The Alphabet Soup of Today's Future of Work Terminology
MBO Partners
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The Alphabet Soup that is the Future of Work has coined a new term - “Digital Economy Work”. Effectively, digital economy workers are full-time remote workers that use their skills procure fully remove jobs in the business, finance, art, science, information technology, and architecture and engineering sectors.
A recent HBR story discusses the impressive rise of this labor market, greatly accelerated in a post-covid world. Terminology aside, this rise underpins corporate adoption of not just remote work, but the independent workforce overall as a strategic imperative.
But it's no longer enough to just optimize one's workforce. Today's C-Suite now needs to change not just workforce makeup (that's a given) but also understand how to best plan for future success.
MIT Sloan research gets us closer to the answer as it highlights the needed traits of the workforce, organizational factors, and leadership to allow organizations to navigate the future. Given the broad realities of the future, different challenges and opportunities sprout up, including how business leaders can leverage technology to manage remote teams, the implementation of geolocations as new business hubs in response to remote work, and the integration of artificial intelligence to work, among others.
The MIT Sloan and HBR work are just two indicators of how the world of work has changed. This isn't just alphabet soup and catchy terminology -- it's real, and here to stay.
Is your organization willing to do what is necessary to not just adopt a distributed workforce, but also leverage advanced technology, upskill and reskill programs, and an overarching strategic plan to manage not just today's workforce needs, but the corporate imperative that the world of work tomorrow will not look the same as it does today.
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Trending Topics: Spotify Work from Anywhere, Freelance Adoption & More
●?????The latest case of an organization reaping the benefits of the Future of Work is Spotify. As it embraced the “Work from Anywhere” arrangement, Spotify experienced a lower turnover rate than pre-pandemic levels.
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●?????Daniel Newman, the CEO of Broadsuite Media Group, described the Future of Work as more hybrid, collaborative, and automated.
●?????A new study by Kantata presented that more than 40% of full-time employees want to shift to freelance work. The study also showed that three-fourths of the independent contractors surveyed were full-time employees as little as a year ago.
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More News of Note: New Job Titles, Time Flexibility & Nomads in the News
●?????A New York Times article shares the new job titles that emerged due to the rise of hybrid work arrangements.
●?????A Babson Thought & Action article discusses the Future of Work, including a discussion on freedom and flexibility, productivity, and innovation.
●?????Lynda Gratton, one of the renowned global thought leaders on the future of work, shares her viewpoint and explains why time flexibility helps workers to be more fulfilled.
●?????Given the rising popularity of “Work from Anywhere Models”, ThisWeekinFM article shares the best cities for international business trips as it cites MBO Partners’ 2020 Digital Nomads report.