The Transformed Talent Terrain

There is a divide between whitecollar office workers and bluecollar front line factory workers and this piece focuses on the changes impacting the former versus the latter and is possibly more relevant in Western countries than those in AsiaThe Five Intertwined ForcesFive forces ricocheting off and reenforcing each other are sculpting a new terrain1 Demographics Most countries outside of Africa and the Middle East are aging as people live longer and there is less immigration and fewer children being born This means more people are going to stay in the workforce longer In addition those aged under 34 having grown up in a very different economy less growth and more shocks technological digital natives and social set up more liberal and more ethnically diverse and have very different mindsets and expectations than those over 50 that might be currently leading companies and making up most of Board leadership2 Unbundled Workplace Post vaccine the office is not dead but it will play a lesser role for a variety of reasons from talent preference to work part of the time from home or near their homes a third place that is not home or the old HQ office a need for companies to either manage costs lower real estate costs or be more aggressive in filling open roles and finding scarce expertise allowing talent to live wherever they want COVID19 has made remote work a reality and very few companies will be able to compete for talent without being open to it3 Technology While broadband technology cloudbased computing and communication software like Zoom and Slack have enabled remote work and collaboration we are on the cusp a quantum jump of enabling technology including integrated AI for improved competency Voice and Augmented Reality for leaps in communication and 5G for faster and more resilient connections4 Government and Policy Most governments are tilting resources to labor and collective infrastructure rather than capital and private enterprise recognizing that after years of disinvestment in society and poor market driven outcomes in some areas such as climate change the pendulum may have swung too far It is also clear that company leadership is now being asked to take stands and work with or influence government5 Culture After a long while diverse voice and points of view are now both being heard and paid attention to all over the world as it is clear that for too long too many talented people39s potential was never unleashed or recognized as well as many company cultures needed to be rethought to ensure greater fairness equality and opportunityThe Challenges and Opportunities Facing Company ManagementThe new terrain provides some unique opportunities for companies to reinvent themselves to create more fluid flexible faster moving and lower cost talent organizations while also raising challenges in managing cultures engendering employee loyalty controlling corporate narrative and dealing with an increasingly complex legal and political talent frameworkOne in four workers 26 plan to look for a job at a different company once the pandemic has subsided according to Prudential39s latest Pulse of the American Worker Survey conducted by Morning Consult in March The number of workers planning to bolt their jobs is even higher 34 for Millennials the largest generation in the workforce today1 Faster moving more flexible AND lower cost organizations One of the key differences between a Hertz and an Uber is that Hertz has many fixed costs they own the cars and have full time employees while Uber has mostly variable costs nonemployee drivers who bring their own equipment to work Uber could dial down their costs and then flex their company into food delivery and not just human deliveryDue to modern technology the furloughs and costreductions of some companies who grappled with a reduction in demand and new supply chains and creative ways to expand talent pools of companies who grappled with meeting a jump in demand every smart company is revisiting many quotgivensquotDo all employees have to be located near their offices What is an office and where should they be located and how much space does each company need in which markets Do all employees have to be full time How can they reaggregate different teams and talents around the world in virtual space How can they combine internal talent with external talent Is there a new type of worker who is neither full time nor freelanceMake no mistake companies who believe they can restart or go back to where the world is in 2019 are very few if any There are too many smart people in board rooms and leadership of firms who know this opportunity to reinvent the acquisition retention organization and housing of talent will not come again and if they do not adapt to the new realities they may no longer be around for the next time2 Managing cultures and work product When some talent works remotely most of the time and others work in the office or when some talent is full time and others half time and different countries have different work environments how does one manage a cultureDoes culture require a campus Is cult like training and indoctrination a part of creating a shared story and fabric of being Or can stories be told and shared training proffered and relationships built without a major need for physical space or gathering outside of a few interludes or for particular phases of a career early or on boardingAnd if these gatherings are needed do people have to come to the museum like campus of the HQ filled with artifacts of the past or could they all gather for a week at a remote location in a fun place Automattic has all its employees gathering once a year for a week while teams that work together gather once a quarter for a week at locations of their choice All the relationship building training and creative brainstorming is achieved without officesDoes work product and quality control require physical rubbing of shoulders for white collar workers Do creative types have to hang out with other creative types for the spark of an idea to be elicitedWhat need is there for a manager to physically hover over a person to monitor work product Has the quality of work declined significantly in distributed workplacesMuch of the nostalgia for offices is built around serendipity relationship building and collaboration which is probably true but in no way requires more than a small portion of a work month It is likely that the hybrid model will focus on month or quarter as the time period versus the week Two days a week does not really allow people the flexibility to live far away from their workplace as one week a month or two weeks a quarter doEarly indications imply that employees prefer working from home at least some or a majority of their time and bosses have got better at being bosses since they now treat employees as people versus as workers since they see them home with their families and pets as well as they have become better communicators since they can no longer expect employees to figure out what is needed through osmosisBut a company culture is not just physical space and connections with bosses and other employees but also the opportunity to grow and the purpose and values of the company one works forSome of the best companies in the world have enhanced their cultures by taking more aggressive roles in standing up for the right things working closely with government and giving back to societyAttracting and retaining talent will be as much about policy purpose and meaning as about fancy campuses or group gatherings and these do not depend on a firm39s organizational structure or the physical footprint of how their talent is housed3 The increased role of policy as part of a company39s CSuite Recently Tim Cook of Apple noted that while Apple was not interested in getting involved in politics they needed to take a stand on policies In many ways next generation talent expects their leadership to take stands The pressure on the CEOs of Facebook Google and others are increasingly internal as they seek to attract and retain talentIf in the old days not taking a policy stand was the smart thing to do since all sides of an issue are potential customers it is today seen as spineless and crosspurposes to the agenda of most companies to put forth purpose led agendas If companies stand for a purpose they will need to take stands on policy increasingly because their talent will demand itClearly this is easier said than done and is fraught with peril but in the cauldron of continuous commotion inflamed by technology culture and diversity every leadership team needs to be aware that policy is as much about talent retention and giving muscle to purpose and values as almost anything else in a fastmoving farflung talent landscapeThe Risks and Potential for TalentThe new terrain brings many upsides for talent including a greater flexibility in working conditions to fit one39s lifestyle b increased opportunities given the ability to be hired by any company in the world as one39s physical location becomes less of a constraint and c new access to learning and experiences as more and more events and people that may have been roped off at a Cannes or Davos or TED or Harvard are available via a Masterclass a Coursera or a Google Certification Even as events go back to physical it is very likely a low cost or free online option will continueOn the other hand there are some significant risks which include a the loss of fulltime income as companies seek to rethink full time employment b increased competition since while the new terrain allows one to perform a job anywhere it allows anyone in the world to perform your job and c the need to navigate a complex web of different demographic and cultural cues with less ability to build in person relationships or learn from the nuances of the observed but the unsaidIn order to thrive in this world one may want to consider this threepronged planProng 1 Take charge of your own career and plan it with a longtime horizon Most people will work for four to five decades because they will be healthy longer will find meaning in work or may need to work to make ends meet A company remains in the SampampP 500 for less than 15 years and as the world accelerates and shifts it is important to think about your career in different acts and plan for it This piece entitled 12 CareerLessons is one person39s perspective you may find usefulProng 2 Consider using the next six months to do six things that will serve you well including a stop thinking about a new normal b build new screen skills c learn to operate as a company of one which means it is critical to build a brand earn trust and be highly collaborative and d learn to do with less so it increases your degree of freedom and gives you optionality and leverage More details on the sixstep planProng 3 Cultivate and grow yourself Your career grows when you grow And you are more than your work expertise You will outlive your career You may outlive many careers By keeping your career in perspective amidst the greater and broader life you live will help you succeed also at work and as a leader So a learn to deal with love loss and learning b be open c mind the gap between who you are and who you want to be d unleash the power of compound improvement e learn to improvise like jazz and f read some poetry More on all these hereWhile the future is uncertain and unknown if the past is any indicator on the whole things get better Every person has talent and potential Every person is both an employee and manager even if all you manage is yourself The future does not fit in the containers of the past and neither do youYou are an immigrant crossing the line into tomorrow39s terrain for talent And there is no one there but you who can turn you backamp8230Photo credit Christopher BurkettClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

The Transformed Talent Terrain

Author

Publish date

Channel

Rishad Tobaccowala

Breaking Barriers: Nada Bradbury’s AD-ID Strategy for Advertising Effectiveness and Women in Tech - By E.B. Moss

More Videos:

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

The Transformed Talent Terrain

Enjoying This Commentary? There's More to Love

Rishad Tobaccowala

Stay in the know with more from MediaVillage

TAGS:

Breaking Barriers: Nada Bradbury’s AD-ID Strategy for Advertising Effectiveness and Women in Tech - By E.B. Moss

Cookies