Millions of young Americans are experiencing a “quarter-life crisis.” They understand that the economy and the nature of work have changed forever. Talent today want more bang for their buck. They want to leave a mark, make a contribution, have a purpose. In short, they’re seeking a calling more than a career. They crave meaning, autonomy, and exploration. Managing one’s vocation successfully is no different than managing a business. And that’s why the contingent workforce has the power to[...]
Today is Halloween, and I have a scary story for you. According to research from Boston Consulting Group (BCG), which examined talent supply-and-demand data across 25 major economies, the “global workforce crisis” we’ve been hearing about could take hold by 2030. In fact, we could see significant labor shortages in several regions. In others, a surplus. As Paul Sawers wrote in Flipboard, “This imbalance has opened the doors to a number of initiatives that seek to plug shortages in the domestic U.S. market by scouting overseas.” One of the best solutions involves training our people today for the skills of tomorrow. Digital learning platforms, integrated with recruiting ecosystems, could do the trick -- while giving us our treats.
For brick-and-mortar companies in the retail sector, 2017 hasn’t been filled with good news. Yet the culprit isn’t necessarily mismanagement or lack of consumer interest in the products they sell -- it’s evolution. Iconic organizations like Blockbuster Video simply get buried in the fallout of rapid progress. And this week, Toys “R” Us provided us with another object lesson as it filed for bankruptcy in a Virginia federal court on Monday. Analysts will cite a variety of reasons: competition, overhead operating costs, not enough focus on the modern customer experience, lackluster marketing, and more. While all these elements factor in, I believe the root cause is an inability to foster a digital ecosystem that complements the on-demand economy. Companies that continue to stand on tradition and ceremony can’t last. And staffing agencies, despite the demand for talent, are not immune.
Last week, I wrote about the people-centric technologies that are transforming nearly every industry imaginable. The changes are being powered by Artificial Intelligence (AI), the Internet of Things (IoT), virtual reality (VR) and design thinking. Yet these advances are not exclusive to entertainment, gaming, computing or software development. For example, as Len April explored on Tuesday, VR is pioneering new ways to solve medical problems and enhance workplace diversity. The important thing to recognize is that the exciting digital breakthroughs, even if they seem unrelated to staffing, will necessarily shape the future of our work and our industry. So the big question remains: How do we get there? Let’s look at some ways we can alter our business cultures and thinking to prepare for the next evolution in human technology: the people-centric, digital workforce.