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European Financial Services Round Table

Monday, June 29, 2020
EFR Paper on the Impact of Digital Transformation on Labour

There is much that can be done to support workers in the digital transformation process, both on a financial security and mental well-being level. EFR members are committed to do their part as employers of around 2.12 million people worldwide. Also, as providers of (retirement) saving and income protection products, they are striving to make their services fit for purpose for the changing environment.

However, action is also needed on the policy side to prepare society for this new era and ensure the legal environment and public policies in a larger sense (such as education and health sys-tems) are also fit for purpose. Those needs are even reinforced by the Covid-19 crisis as trans-formation is likely to accelerate.

With the EFR Paper on Digital Impact on Labour, which includes various recommendations for policy actions, EFR wishes to contribute to the EU debate on the impact of digital transformation on labour and related workforce protection.