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.
It’s October, friends, which means the spooky season is upon us. And for businesses that have staked their profits on the presumed longevity of the retail space, the stories we’re reading have become frightening tales. Longstanding, traditional merchandisers like Toys “R” Us and Payless recently filed for bankruptcy. Enterprises such as Walmart, sensing the stormy seas of change, are connecting themselves to the digital landscape through strategic alliances with the likes of Google. Some analysts have labeled the phenomenon a “retail apocalypse.” Others call it the “Amazon effect.” I think it goes beyond that. What we’re witnessing, as I wrote in September, is the emergence of talent ecosystems -- the next iteration of transformation from the roots of the gig economy. IKEA’s acquisition of TaskRabbit provides another strong hint. And one day soon, blockchains may create an entirely new future of work through Decentralized Autonomous Organizations, as the power of the crowd grows.
The competition to attract and retain exceptional workers remains fierce. Very fierce. Job openings pile up and go unfilled. Employers are desperately seeking skilled candidates who will integrate well with the mission and the team. And the needs of today’s talent, particularly those in millennial generations, have taken more nuanced turns. Cultural fit, Forbes recently emphasized, has become even more important in the modern age. For recruiters, the process of sourcing and interviewing prospects has reached new levels of complexity. What questions should you ask? How can you really judge attitude and aptitude? While labor regulations make it clear that we can’t get too personal in our inquiries, there is one bygone line of questioning we may consider reviving -- asking talent about their interests beyond the office.