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Apr. 27th Snapshot: The New World of Work

young professionals2 222x3001 150x150 Apr. 27th Snapshot: The New World of WorkAs 2012 progresses and the economy gradually rebounds, we like to keep an eye on the ever-evolving workforce, especially the flexible workforce and the “new world of work.”   We are always on the lookout for current news stories, interesting tidbits and thoughtful commentary to pass along to you.

This week, we feature:

A comprehensive article in the May issue of the Harvard Business Review titled “The Rise of the Supertemp” by Jody Greenstone Miller and Matt Miller paints a compelling picture of today’s top-tier flexible worker and outlines what benefits they enjoy and challenges they face.  Read the article.

Apr.13th Snapshot: The New World of Work

As 2012 progresses, we like to keep an eye on the ever-evolving workforce, especially as it relates to the flexible workforce and the “new world of work.”   We are always on the lookout for current news stories, interesting tidbits and thoughtful commentary to pass along to you.

This week, we feature:

  • Forbes contributor Elaine Pofeldt authored an article titled “Succeeding, Reid-Hoffman-Style In A Diamond-In-The-Rough Economy” that talks about how technology has impacted – and forever changed – the workforce and why we will never revert to the pre-Recession scenario again.  Read more.

Feb. 3rd CEO Corner: 2012 Outlook on the New World of Work

Job creation will be the central issue of 2012 and the upcoming presidential election.  But like a lot of political issues, the facts lie far below the headlines and rhetoric.  Overall, unemployment is unacceptably high, but different groups or classes of workers are faring differently.

Solving the Skills Mismatch
In contrast to the highly publicized 8.5 percent U.S. unemployment figure, the unemployment rate for “management, professional, and related occupations” is just 4.4 percent. It’s no wonder many hiring managers can’t fill higher-level, strategic, management and technology positions. The data suggests there aren’t enough applicants eligible, available or willing to fill those jobs.

Jan. 20th Snapshot: The New World of Work

As we gear up for a new year of opportunities, we continue to keep an eye on the ever-evolving workforce – especially as it relates to the flexible workforce and the “new world of work.” We are always on the lookout for current news stories, interesting tidbits and thoughtful commentary to pass along to you.

This week, we feature:

  • A timely story by Staffing Industry Analysts that highlights compelling survey results released earlier by M Squared Consulting
  • A positive article in the San Francisco Business Times that includes feedback from recently surveyed Bay Area CEOs and executives who are optimistic about the economy as we head into 2012

Is the Tech Boom For Real?

New statistics indicate that the job market is looking up in Silicon Valley.  This week the U.S. Bureau of Labor Statistics reported the pace of job growth in the South Bay was almost double that of California and nearly triple the nationwide rate.  It expanded by 3.2 percent during the 12 months ending in October, the highest metro rate in the nation.

This front-runner status has some wondering if we’re witnessing the advent of another “tech bubble” akin to the dotcom debacle of the past decade.  Stephen Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy, says no, noting that that sector leaders such as Google, Apple and Facebook have real sales and real product plans.

Nov. 9th CEO Corner: Focusing on the Wrong Problem?

It was reported last week that the U.S. economy added 80,000 jobs in October and the nation’s unemployment rate edged down slightly to 9%. After the announcement TV commentators debated whether this was truly good news.

But if you look beyond the headlines, the Bureau of Labor Statistics also reported that the unemployment rate was just 4.4% for “management, professional, and related occupations”.  That’s a figure that most economists would consider “full employment.”  In the high technology sector, for example, there are thousands of job vacancies at many companies but the problem is finding individuals with the proper skills to fill the openings.

Flexible Business Strategies in a Flat World

Leading an enterprise in today’s flat and fast world is a white-knuckle experience for any leader. The world is connected like never before, filled with smart devices and juiced by social media; all news travels fast and loud.  Knowledge and uncertainty are thus amplified, and as a result leadership must be both clear and adaptive.

The Recession of 2008 taught us how fast things can happen.  While the indicators were building for years, the crash seemed to happen almost overnight.  Since 2008, the recovery has taught us how small the world is. Everything is interconnected, business is global, and competition can come from anywhere.  Consequently, enterprises today – and in particular their talent and human resource strategies – must be flat, fast and flexible.

How to Become a “Front Runner”

A top M Squared consultant, Mahesh Rao, recently authored a book titled “Front Runners”.  Rao has more than 20 years of experience helping Fortune 500 companies embrace change, transform, and become leaders of their industries.  The book is a comprehensive yet practical guide covering 10 game-changing strategies for total business transformation.

Book synopsis:
Companies today face a unique predicament—one that most have not seen in decades. Customer needs change rapidly, and changes in buying habits create new market landscapes. If company leaders fail to adapt quickly enough to new market conditions, shareholders can be ruthless in their criticism. Adding to the tough choices are ever-increasing internal constraints on budgets and other resources.

The New Innovators

Today’s economy has everyone in a pinch. Companies need to adapt to a tough business climate and fresh regulatory demands, and executives find themselves scrambling for resources to support new initiatives. Hiring is scant, managers are asked to do more with less, and the sputtering recovery remains largely jobless.
 
This shift has resulted in an evolutionary turn to the flexible workforce, from simply being a cost-effective stop-gap resource to becoming a widely-used source of strategic expertise for large enterprises. No longer on the margins or administrative in nature, the Aberdeen Group reports that nearly 20% of the average company’s workforce is considered contingent labor, and the majority of these flexible workers are white-collar professionals (according to Staffing Industry Analysts).
 
Thus, the flexible workforce is a perfect fit for high-value professionals who often have 10 or more years of consulting experience in a particular field. It provides them with an opportunity to continually grow and share their expertise through a wide range of experiences and peer-to-peer sharing.  According to the Staffing Industry Analysts, in the next decade more than two-thirds of the flexible workforce will be comprised of these highly experienced, upper–echelon independent professionals.
 
 
Creativity Boost
Studies have shown that innovation is highest in groups that are created organically around a challenge. Yet organizations typically aren’t very good at creating and sustaining organic groups. By definition, established organizations are supposed to be established and organized. Try as they might, any new groups created from within are born with the organization’s DNA, and even the most innovative employees bring an automatic bias to a task.
 
True innovation needs to start with a clean slate. It needs to be unencumbered by the “way we’ve always done it” thought process. And it needs to plow new ground and combine varied insights from a wide range of experiences.
 
As the economy continues to gain steam, more companies will look to the high-end of the flexible workforce as their bridge to better times. Increasingly, that bridge will lead them to growth through innovation.