Editor’s Note: Download the industry’s hottest guide to the Future of Work and contingent workforce management (CWM), The State of Contingent Workforce Management 2018, and learn how the new world of work will impact your business in 2018. This epic guidebook, now in its fifth year, is the de-facto research study for learning about new workforce trends, the direction of both traditional and innovative technology, and what the Future of Work means for the typical business.
The New World of Work
At the end of the day, the modern foundational components of work should revolve around 1) a holistic, seamless series of enterprise processes and capabilities, 2) a cultural, diverse network of talent and skillsets, 3) technologies that represent the continued consumerization of business, and 4) a groundswell of intelligent decision-making that is driven by innovative enhancements to work optimization systems. As such, there are several distinct elements that are actively converging to create this brave new world of work, including:
- The continued consumerization of business and talent (i.e., living in an on-demand world).
- Transformational thinking at the executive level and flexibility in how core operational strategies leverage talent.
- The evolution of “traditional” contingent workforce management solutions, like Vendor Management Systems (VMS), that actively leverage progressive functionality to keep up with the demands of the new world of work.
- “Future of Work-era” innovations, such as artificial intelligence (AI), augmented reality, blockchain, machine learning, etc.
- The interconnectivity of key business systems, processes, suppliers, applications, and partners (the Internet of Things driving seamless and “boundary-less” access to on-demand optimization of work), and;
- Most importantly, the continued “talent revolution” that is actively experiencing a surge in growth and criticality (as noted, Ardent’s research has found that 40% of today’s total global workforce is considered “non-employee”).
The continued “consumerization” of business, in which many of the technological and on-demand advantages of the consumer arena cross over into the world of business, is actively driving this new world of work. Combined with transformative and flexible thinking (embracing the Gig Economy), and the technological advancements in both core CWM technology (such as VMS) and Future of Work innovation (like AI and machine learning), today’s businesses are now, more than ever, enabled with the necessary tools and concepts to thrive in new era of business history. With a “boundary-less” and interconnected network of systems and platforms at their disposal, as well, the time is now for the Future of Work to revolutionize how work is done.
To actively thrive in this new world of work, enterprises must adapt their line of thinking across various facets of their organization and buy into the evolution and innovation happening across the business landscape. The organization of the future follows several key principles, including the networked operations and interconnectivity from technological perspectives. The “Internet of Things” is not a business fad, but rather, it is a technological revolution that promotes the interconnectivity of business systems, networks, and devices. This near-endless loop of feedback, intelligence, and communication optimizes how work is addressed, managed, completed, and reconciled from all fronts.
Similarly, being “boundary-less” on all work fronts is crucial in any Future of Work concept. The organization of the future will see few to no “boundaries” when it comes to the ultimate optimization of work. Physical locations, adoption of new technology, and access to valuable skillsets across the world…these will not become boundaries to the organization that seeks to thrive in the new world of work. The transformation of executive thinking is a critical factor in developing a boundary-less organization that will adapt and adopt what it needs to move beyond the outdated and traditional means of work.
Download the State of Contingent Workforce Management 2018 research study today to learn more about the new world of work, what the Future of Work means for your organization, and how the continued evolution of talent and technology will continue to spark a new era in business history.