The concept of the “Future of Work” is multifaceted and dynamic. From artificial intelligence (AI) to the utilization of mobile applications, this notion will alter various aspects of the global world of work (stay tuned to CPO Rising over the coming weeks for a brand new series on the future of work topic). As such, rapid transformation is an accepted attribute of the non-employee workforce industry, worldwide talent, and its place in the future of work, as the permeation of consumer-styled expectations and content accessibility bleed over into the business world. On-demand engagement of talent, the Gig Economy, the actual shaping of the future of work… all of these ideas originate in the synergetic relationship between a business and its talent.
The very idea of the “future” of the global workforce is complex; that is, attributes related to talent acquisition, talent management, innovation, business culture, and executive leadership all play vital roles in the workforce of the future. The modern enterprise lives in an exciting era, fueled by the emergence of on-demand and social tools and the evolution of talent across generational continuums. The short-term future of this workforce is founded on these principles, propelled into a new age by advances in technology and strategy:
- A time when collaboration between HR and procurement will be the standard, not a desired state. Seventy percent (70%) of enterprises believe that the effective blend of contingent workforce management (CWM) and human capital management (HCM) will be the norm in the future, furthering the notion that the underlying ramifications of “talent” will sprout beyond one mere enterprise function.
- The future of the workplace. The physical office is just now becoming a legacy attribute of talent management as more and more workers ride the virtual route to work. More innovative concepts, however, such as hot-desking (i.e. shared tools and desks utilized by multiple workers), co-working spaces that encourage collaboration and knowledge-sharing between independent workers, and agile allocation of talent (utilizing the strengths of talent on a shifting basis rather than the traditional “one employee = one role” notion), are all revolutionizing not just how work is addressed, but also where it gets done.
- New data will lead to never-before-seen insights. Another linkage between the consumer and business worlds, enterprises will soon be able to leverage GPS and health/fitness monitoring to gain additional insights into their total workforce, understanding the relative “well-being” of their talent. This intelligence, which provides visibility into stress levels and other physical aspects, can be leveraged to make more educated talent engagement decisions when new projects or initiatives arise.
- Artificial intelligence as a supplemental source of expertise. AI seems to get a bad rap in the social landscape, as many workers believe that this new progression will eventually lead to “job-stealing” and other negative business ramifications. However, in an age when talent, no matter the source, is a true competitive differentiator, AI can be a boon to supplement human workers and assist in greater corporate decision-making.
Stay tuned to CPO Rising in the coming weeks for a brand new series on the Future of Work. And if you’re interested in learning more about the evolution of CWM, please subscribe to the industry’s first and only dedicated weekly podcast, Contingent Workforce Weekly.
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