The work environment is changing. Know how “The Great Realization” is affecting today’s workforce model! [Fridays: Mindfulness by Miles]
Miles Everson’s Business Builder Daily speaks to the heart of what great marketers, business leaders, and other professionals need to succeed in advertising, communications, managing their investments, career strategy, and more.
A Note from Miles Everson:
On July 16, 2021, I had the honor of speaking at the Harvard Club of Boston for the webinar, “How a Global CEO Reinvents the Workforce.”
In this event, we talked about why I decided to leave my job as Global Advisory and Consulting CEO at PricewaterhouseCoopers (PwC) and pursue my current role as CEO at MBO Partners.
We also discussed the trends that are currently shaping the future of work, why many Americans are choosing to become independent professionals, and how to win in a modernized workforce.
You may click on this link to listen to the recording of the webinar: Miles Everson @ Harvard Club of Boston: How a Global CEO Reinvents the Workforce
We encourage you to keep reading the article below as we highlight some key takeaways from the event. We hope you find these insights useful as you work towards achieving optimum performance in your career.
Miles Everson
CEO, MBO Partners
Chairman of the Advisory Board, The I Institute
Mindfulness by Miles
Technology…
Artificial intelligence (AI)…
Computing power…
Nowadays, the rate of innovation is increasing along with the development of these things. Because of that, there has been a significant shift in the workforce.
According to MBO Partners CEO Miles Everson, this shift is seen in the automation and digitization of some processes in some companies, and in many Americans―particularly millennials and Gen Zs―who are choosing to become independent professionals.
In his July 2021 webinar titled, “Miles Everson @ Harvard Club of Boston: How a Global CEO Reinvents the Workforce,” he shared some insights regarding the future of work, including reasons why many are deciding to go down the independent career path and several trends that the COVID-19 pandemic helped accelerate.
Here are some of them:
Migration from Knowledge Stock to Knowledge Flow
A knowledge stock refers to a single asset that you trade in binary transactions. It’s a pipeline business, and according to Everson, that was how the industrial era was built.
Meanwhile, knowledge flow is a trade-off of the flow of information associated with the transactions. In this model, competitiveness is not measured by the number of workers in a firm but by a firm’s degree of access to a global pool of talents.
For example: Everson said that 25 years ago, geniuses wouldn’t share their technology patents or innovations with anybody. What they would do is sell those technological breakthroughs mostly in binary transactions―a feature of knowledge stock―and earn big from their intellectual properties.
… but when knowledge flow came into the picture, the setup changed. Now, if you don’t share your technology or innovation with anybody, people will question your decision.
If you don’t use and share your brilliant ideas to help the world improve, people will think you’re wasting your time.
That’s why open source technology is the trend nowadays. According to Everson, this is currently one of the most innovative technologies in the world.
Erosion of Employee Tenure
Everson said that if you’re under 45 years old in the US today, you’ll likely change jobs every 4.5 years. If you’re under 35, you’ll probably change every 2.8 years.
Using that information, he asked business leaders and executives:
“Do you really believe you have a stable workforce?”
He asked that question because he believes the decrease in employee tenure nowadays supports his claim that “The Great Realization” is happening.
Using the State of Independence in America report, Everson said 46% of employees in the US say they plan on changing jobs within the year.
For him, that’s a massive change!
That’s why he addressed business leaders and executives who attended the event at the Harvard Club of Boston, saying:
“How can you conclude that you’re good at managing a variable workforce if your primary focus when you talk about your people and your talent is your full-time workforce?”
Everson said leaders and managers shouldn’t misinterpret what he stated―they should still value their full-time staff.
What he meant was leadership teams should not only pay attention to their full-time workforce but also welcome other assets that can help grow and create value in their companies.
- Asynchronous Communication
Everson believes businesses can’t succeed in managing a fluid, transient workforce if all they do is synchronous communication.
[Synchronous Communication: A type of communication that takes place real-time between two parties.]
Why?
It’s because for him, asynchronous communication, or the transmission of information without an external clock signal, is important in the conduct of business too!
In fact, Everson stated that asynchronous communication is used by most educational institutions nowadays and has been going on since the rise of social media and advanced technology.
He also added that this type of communication is one of the significant factors that will help drive productivity and efficiency in a firm’s workplace.
Opportunities, innovations, and technological breakthroughs abound in today’s work landscape.
… and according to Everson, you should take advantage of these things so you can boost your career and effectively work as a good team player or leader.
His advice?
Value every learning opportunity! As long as there is work to do, your soft and hard skills will always be needed by different clients, companies, etc.
One more thing: Everson said if you give your best in whatever you do, highly likely you will be an independent―not because you decide to not stay at one company as a full-time employee or because independence is a growing trend, but because you will trade yourself at your own competitive price.
We hope you’ve learned a lot from Everson’s message at the Harvard Club of Boston event!
(This article is from The Business Builder Daily, a newsletter by The I Institute in collaboration with MBO Partners.)
About The Dynamic Marketing Communiqué’s
“Fridays: Mindfulness by Miles”
High-performance businesses are run by people who think and act differently.
In other words, these are people who are high-performing individuals.
Companies and individuals of this kind have found ways to escape the grind of commoditization and competition by focusing on the RIGHT goals.
High-performing businesses and individuals are also “return driven” businesses and “career driven” individuals. They conscientiously develop unique capabilities and resources that allow them to deliver offerings in ways no other firm or individual can.
Every Friday, we’ll publish tips and insights from MBO Partners and The I Institute’s “The Business Builder Daily” newsletter.
These will help you gain knowledge on the things that Miles Everson, the CEO of MBO Partners, often talks about regarding the future of the workforce.
We’ll also highlight other mindfulness tips and advice on how you can be a high-performing individual both in your career and personal life.
Hope you’ve found this week’s insight interesting and helpful.
Stay tuned for next Friday’s “Mindfulness by Miles!”
Cheers,
Kyle Yu
Head of Marketing
Valens Dynamic Marketing Capabilities
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