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Christopher J. Dwyer

Did March Break “Great Resignation” Records? It Sure Did.

Remember long ago, when we all thought “The Great Resignation” would start to loosen up as we headed towards spring? And remember when a certain Future of Work site called it “The Greatest Resignation” because four-plus million professionals were quitting every month since October of last year? AND, remember when that same site spoke of a “Great Resettling” as these workers began to find a foundation that suited their personal and professional desires?

Of course, we remember. It was just two weeks ago.

The March numbers from the Bureau of Labor Statistics hit last week, and with them, something that collectively made us shake our heads. Over 4.5 million individuals voluntarily left their jobs in March, which is a record thus far since this data was first collected decades ago. (March 2022 to November 2021: “Hold my beer.”)

I said just a couple of weeks ago that there were two pathways for this “Big Quit”: either the numbers would reflect a settling of workers into roles that better suited their desires for flexibility, purpose, etc., or, we’d still be operating in “Great Resignation” mode, continuing to wonder when the tide would finally turn.

The Future of Work Exchange will always remain bullish about “The Great Resettling,” as it reflects exactly how voluntarily-displaced workers will find their calling when the dust figuratively settles…the monkey wrench in that concept, however, is just when the record page of resignations will end. The common refrain, that workers still crave more flexibility, empathy, and purpose, will not change. It doesn’t matter if we’re in the throes of a disruptive COVID surge or in a very awkward period (like we are right now): the collective trauma, experiences, and perspectives going into Year Three of the pandemic will continually translate into workers wanting more and wanting better.

Does that mean a bulk of these workers will join the extended workforce ranks? Absolutely. Does this mean that more and more professionals will become entrepreneurs in a market that, for many tech industries, has become incredibly hot? Yes, of course. Does this mean that those businesses on the backside of those resignations should execute on some self-reflection? 100%, yes.

There’s no one-shot answer to why “The Great Resignation” has become “The Greatest Resignation.” And there’s no firm, calculated timeframe on when we’ll see labor market completely enter a “Great Resettling” phase. All of this means one thing: the changes to 1) the way we work and 2) the workforce itself have become permanent. We’re not going to continue experiencing millions and millions of resignations every month. There’ll be a point in time, which I’m imagining is “soon,” in which those resignations begin to slow…and with it, a newly-resettled workforce that may have finally grasped the flexibility, empathy, purpose, compensation, etc. that they’ve been looking for for so very long.

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Ardent Partners and the Future of Work Exchange Announce “FOWX LIVE,” An Executive Roundtable Event

It’s clear that the world of work and talent has changed. Many facets of modern business have been transformed, from talent acquisition and talent engagement to workplace culture and workplace structure. For today’s business leaders, navigating these revolutionary times requires a Future of Work-first focus on work optimization, enhancement of core workforce management strategies, and major, flexibility-led shifts in how executives think about their talent, their operations, and their workplace.

Ardent Partners and the Future of Work Exchange are excited to announce its inaugural Future of Work event, “FOWX LIVE,” a half-day executive roundtable conference that will bring together business leaders at the historic Harvard Club in Boston, MA on June 14.

The event will include both presentations by industry luminaries and executive roundtable discussions for networking and the sharing of best practices between attendees (as well as an elegant lunch to cap off a whirlwind day!).

Registration is complimentary for procurement, HR, and talent acquisition executives. Sponsored by Utmost, WorkLLama, and Atrium, this event will highlight the major issues driving the Future of Work movement, including:

  • The necessary strategies for managing a remote and distributed workforce.
  • The approaches for navigating a volatile labor market.
  • The Best-in-Class strategies for implementing new technology and innovative tools to enhance how work is done.
  • The ideal pathways to more effective business leadership, and;
  • What the future holds for the world of work and talent.

Register today for FOWX LIVE (June 14; registration begins at 9am ET)!

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Talent Quality-Led Recruiting and the Future of Work

“Talent quality” can be a nebulous concept. Staffing organizations often have to balance the many innerworkings of such an idea, delicately balancing the intricacies of what they believe “talent quality” to be. In a business world that has been dramatically transformed by a pandemic, changes in how businesses operate, and, of course, the impact of Future of Work accelerants, today’s enterprises, staffing agencies, and other key groups must be focused on broadening the definitions around talent quality and put those at the heart of any extended workforce management program.

The Future of Work Exchange is excited to partner with Glider.ai for an exclusive Q&A event tomorrow (May 5) at 11am ET. Ben Walker, a longtime thought leader and expert in the workforce solutions industry, will join me to discuss:

  • The impact of talent quality-led recruiting and how these strategies should be developed and executed.
  • How artificial intelligence can be a gamechanger in regards to eradicating talent fraud and improving overall candidate quality.
  • The priorities of today’s extended workforce programs, and;
  • The key KPIs and performance metrics that are required to gauge the impact of talent quality programs.

Click here or on the image below to register for tomorrow’s event. Looking forward to seeing you there!

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Instant Analysis: Beelines Receives Major Investment From Stone Point Capital

Earlier this morning, global Vendor Management System (VMS) and Extended Workforce Management Platform Beeline announced that the company received a majority investment from funds managed by Stone Point Capital, a leading private equity firm based in Greenwich, CT. New Mountain Capital, existing investor, will remain a minority investor in the solution, and will maintain representation on the company’s board of directors.

The acquisition represents an ideal scenario for the industry’s largest independent provider of workforce management technology, as the move will allow Beeline and its team to execute on a progressive roadmap and introduce new and innovative solutions in a market dominated by Future of Work accelerants.

“New Mountain was a great home for us and we appreciate the opportunity to continue to partner with them,” said Beeline’s CEO, Doug Leeby. “We are thrilled to be part of the Stone Point Capital family; I’m confident that their support will allow us to follow through on our long track record of innovation and growth in this exciting industry.”

The move will allow Beeline to continue operating as the largest independent extended workforce/VMS technology solution, as well as serving as a catalyst for the company to enhance the way its customers find, engage, source, and managing the growing and evolving non-employee workforce.

The Future of Work Exchange highlights the following in its instant analysis:

  • Extended workforce management technology is a must-have in a “Great Resettling”-fueled business world. Ardent Partners and FOWX research have found that 47% of the average company’s workforce is considered non-employee, a figure that is expected to grow in 2022. Beeline already has a long track record of success, however, the strategic investment will enable them with even more support to continue the platform’s global scalability, especially considering the new influx of extended talent that will be entering the market as “The Great Resignation” continues.
  • Beeline will become a major player in the acquisitions market. The workforce solutions ecosystem has never been more robust: talent marketplaces, digital staffing outlets, direct sourcing platforms, and progressive point tools (i.e., candidate assessment and skills validation) are all critical pieces of the Future of Work puzzle. Beeline will have the capabilities to increase its acquisition activity, perhaps by building on moves such as what they did last year with the JoinedUp acquisition.
  • A major strategic investment = more runway to build on the role of VMS in the Future of Work. We know the story by now: VMS was once considered “eProcurement for staffing” until the contingent workforce grew in size and strategic prominence. Today, it’s a vaunted enterprise solution that serves as the nexus of all things related to independent talent. Beeline’s VMS and extended workforce platform is well-positioned to help its clients thrive in a Future of Work-led world with this investment, as it can build on its unique functionality in a way that supports progressive ideas, such as remote talent acquisition and hybrid work augmentation.
  • Data-centric enterprise technology computing will be enhanced across Beeline’s product offerings. The Stone Point investment means that Beeline can devote more R&D to intelligence-fueled functionality and enable its user base to make more data-oriented talent decisions. Data sits at the center of talent engagement and talent acquisition today, and in response, FOWX believes Beeline will continue to invest in its intelligence capabilities to bring more insights into all pieces of the end-to-end workforce spectrum.

“The extended workforce is a critical facet of the Future of Work movement,” said Leeby. “As this workforce grows and evolves, Beeline will continue to do so in parallel. With Stone Point behind us, we have an opportunity to innovate around the unique needs of today’s workforce and provide solutions that can help our customers succeed in a transformative world of work and talent.”

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Once Again, Businesses Have an Opportunity to Experiment with Workplace Strategy

Although it seems as if many regions (and individuals) around the world are acting as if the pandemic is over, the hard truth is that we’re still not close to the finish line. Last week, when pandemic expert and longtime virologist Dr. Anthony Fauci clarified previous remarks and stated that the United States was out of the “acute phase” of the pandemic, it meant that businesses, professionals, and us as people were in an odd gray zone; case counts are rising, but hospitalizations are falling. We’re returning to many of the events and situations that weren’t possible last year, however, we’re still remaining cautious in specific instances.

We know what this means for us as individuals; we can make calculated risks based on our comfort levels, where we are physically within the country (local transmission levels), and our personal networks (i.e., opportunities for infect at-risk family members or friends). However, what does this mean for the typical enterprise?

Well, the Future of Work Exchange believes that this is another opportunity to experiment with how they want to operate from a workplace structure perspective. Although we’ve heard (over and over and over again) that return-to-office plans were in place, there are still tens of thousands of organizations that have still not finalized their strategy regarding how they want their work. And, those that have opened their doors to workers should hopefully be viewing the past several months as the greatest opportunity to see what works, and what doesn’t, in regards to hybrid models.

The remote vs. hybrid vs. all in-person debates have been raging since the summer of 2020, a time when both professionals and people tired of four or five months’ worth of stress, anxiety, loneliness, fear, and frustration. While there was a political storm brewing over when to ease lockdowns, business leaders faced yet another critical quandary in how they were continuing to operate in evolving, previously-unknown conditions.

Last year, I suggested that enterprise utilize their time to experiment with various workplace structures, management methods, and technology-led collaboration to see what made the most sense for when the business world ultimately called for a return to workers getting back to “normal.” While we now know that there is no normal, nor should there be, some organizations tooled with hybrid schedules, fully-remote options for specific functions, and core in-person work for roles that demanded it. There was a massive payoff to this: business leaders were able to glean the productivity benefits, flexibility, and overall worker engagement that resulted from these endeavors. Too, these organizations were also able to determine how to move forward during those uncertain times, all in preparation for when the pandemic would be at a more controllable phase.

While it’s way too early to say that the COVID-19 crisis is nearing its resolution, it is safe to assume that we have entered a more controllable state, one in which vaccines are aplenty, there are antiviral options that can have a tremendous effect on high-risk individuals, and the fact that immunity may be at its highest point. While the specter of another immunity-dodging variant looms, as does a fall and early winter surge, now is the perfect time for those organizations that haven’t experimented with new work models to do so.

What does that entail?

  • Determine which functional groups require in-person collaboration and the frequency of such coordination, then build a hybrid schedule around these meetings. Workers that crave a hybrid workplace model will be much more productive if they know that their in-office days are centered around the meetings they require, rather than wasting time at desks and cubicles on tasks and projects that can be effectively supported remotely.
  • Gauge the overall culture of the workplace and consider what needs to be done to positively engage workers. Culture is a foundational element of the Future of Work, as well as one of several crucial attributes that play vital roles in talent attraction and talent retainment. Does the organization’s culture reflect rigidity and an unwillingness to be flexible? Is this depleting morale? If so, now is the ideal time to experiment with hybrid and remote models, and, measure their effectiveness on the overall mood of the workplace.
  • Create a “beyond perks” program that is attractive to both in-office and remote workers. Some businesses are offering meal plans to those who commute to the workplace everyday, while supporting fully-remote workers with financial support for home office hardware. These small tokens may seem trivial in the greater vacuum of business, however, they can go a long way in helping workers feel like they are appreciated.
  • Understand that “safety-first” plans may still be required for at-risk individuals. While many of us have been enjoying some pre-pandemic activities, such as restaurants and concerts, there are many of us who are at-risk for severe virus outcomes (immunocomprised persons, for example). Forcing workers to appear in-person when they are at this risk of severe illness is not only irresponsible, it’s one way to lose an employee’s engagement with the workplace. Smaller and mid-sized organizations can handle these situations with specific remote or hybrid plans, while enterprise-sized companies can put together blanket guidelines that work for all at-risk workers.
  • Use this time to harness the power of digital workspace technology. Digital workspaces have become a necessity in today’s flexible working world. As remote workers continue to require access to systems, data, and intelligence, businesses will need to enhance their workspace technology to ensure that professionals can tap into the power of a more secure, more flexible, and, most importantly, a more agile, hybrid cloud infrastructure no matter where they are located.

These are just a handful of recommendations for experimenting with new workplace models. If businesses can take advantage of these next few months, they will be better equipped to pivot if required in the event of a fall or winter surge. In addition, experimenting with flexible arrangements will result in several fantastic by-products, such as an improved workplace culture and better worker engagement.

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The Future of Work Exchange Meets the “CPO Open Mic” Podcast

I had a wonderful opportunity to join Beeline’s Chief Procurement Officer, Mike Schiappa, on the CPO Open Mic podcast. In what ended up being one of my all-time favorite discussions, Mike and I chatted about “The Great Resignation” (and how it will become “The Great Resettling”), the growth and impact of the extended workforce, why direct sourcing should be top-of-mind, and how business leadership needs to be more human. Tune in!

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Demystifying Artificial Intelligence for the Extended Workforce

Today, AI is prevalent in both full-time/traditional talent acquisition and within the extended workforce arena. Ardent Partners and Future of Work Exchange research finds that nearly 60% of organizations are effectively “blending” AI and human-led processes into the current hiring initiatives, with another 34% expected to do the same over the next 12-to-24 months.

Back in February, I joined Beeline and HiredScore for an exclusive webcast on demystifying the role of artificial intelligence in hiring and extended workforce management. Beeline’s Colleen Tiner (SVP Strategy), HiredScore’s Athena Karp (CEO & Founder), and I discussed how AI could be leveraged to enhance hiring, drive total talent intelligence, and combat the ramifications of The Great Resignation. If you missed the webcast, we’ve got you covered:

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When Will “The Greatest Resignation” Become “The Great Resettling”?

When we take a 30,000-foot purview of what’s happening right now regarding “The Great Resignation,” it looks pretty dire: nearly four-plus million workers have left their positions each month since October of last year. Not counting numbers for March (which have not yet been announced by the Bureau of Labor Statistics), that’s nearly 16 million people who have resigned, quit, etc. over a four-month period.

Economist Arindrajit Dube recently sparked an interesting discussion on why he believes that The Great Resignation is more of a “Great Reshuffling,” given that data points to workers’ resignations concentrated in industries such as retail, restaurants, hospitality, mining and logging, etc. And, interestingly enough, just last week, he tweeted:

There is no Great Resignation … people are not leaving the workforce. Prime-age employment rate is back to 2019 levels! What we have is a Great Reshuffling: workers moving to better paying jobs. That’s what a competitive labor market actually looks like!

So, if we were to agree with Dube, the approach towards what’s happening right now would look something like this: workers, unhappy with wages, left their positions en masse for better compensation, creating a “weird” labor market that is now competitive compared to the disconcerted workforce foundation that we experienced earlier in the pandemic.

I’m not one to disagree with a talented economist who bases his public insights on hard data. However, I’d like to throw some additional thoughts onto the pile to reflect some of the other influences on The Great/Greatest Resignation. For one, Dube’s only miss in his statement is that there’s so much more to resignations than compensation. In fact, we’ve talked about them (at-length!) here at the Future of Work Exchange. Purposeful work, flexibility, remote and hybrid work options, etc.…these are absolutely critical facets that contribute to the ongoing, massive numbers of resignations.

What many pundits seem to be getting at in their messaging is this: why is the labor market so competitive even though 16 million workers (not including those who had done so in March) left their positions voluntarily over the past several months? Is The Great Resignation even real?

Well, yes, it is. We just cannot argue with the fact that millions of people left their roles; the numbers are there to prove that. It’s what’s happening after the resignations that is so vitally important. This is where I feel what is happening is more of a “Great Resettling” rather than a “Great Reshuffling,” as workers who have left their jobs are “resettling” themselves within a different dynamic.

Economist Dean Baker brought up an interesting point in an article from a few weeks ago, stating, “The number of people who reported being self-employed (both incorporated and unincorporated) in March was 618,000 above the average for 2019. The fact that self-employment remains high, even as the labor market has tightened enormously, indicates that self-employment is a choice rather than an act of desperation.” (Future of Work Exchange research discovered this, as well, back in the summer of 2021: 43% of the workforce was considered “non-employee” before the pandemic and increased to over 47% during it.)

The word “choice” in that statement means all of the difference between “reshuffling” and “resettling.” A great reshuffle, at least to me, would mean that workers are moving in vastly different pathways than they were in pre-pandemic times. A great resettlement means that:

  • Those who were of retirement age during the pandemic but didn’t want to retire will make the choice to do so out of either necessity or for the sake of health and safety.
  • More and more workers will adopt a flexible, contingent-led career pathway that afforded them the ability to be independent.
  • Professionals who reached a breaking point with their current organizations’ lack of employee engagement (and flexible work models) will seek culture over compensation.
  • Tens of thousands of workers have started (and will continue to launch) their own companies to take advantage of an entrepreneur’s market, and;
  • “Digital nomads,” who wanted to leave major metropolitan areas and had the flexibility to work remotely because their industries supported it, will easily adopt new work structures wherever they want to be.

Figuratively, the “dust is settling” right now. If the March resignation numbers mimic those of November, December, January, and February, we’re still operating in Greatest Resignation mode, with workers about to rethink their future pathways aiming for a more settled foundation for the second half of 2022.

Actually, today, professionals are settling into positions that satisfy long-desired urges, including flexibility, empathy, and purpose. The Great Resettling seems to be a more on-the-nose phrase to use, since it encapsulates the ways workers are settling into extended/contingent roles, independent positions, and solo-preneur/entrepreneur ventures.

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Navigating Services Procurement in a Future of Work-First World

I recently had the pleasure of moderating an edition of Randstad Sourceright’s Talent Navigator series to discuss the reimagining of services procurement. RSR’s Global Head of Services Procurement, Paul Vincent, Deployed’s co-founder and COO, Kayleigh Kuptz, and Senior Director at Visa, Sarah-Jayne (SJ) Aldridge, joined me to discuss how a business-first and Future of Work-focused services procurement and SOW management program is required to drive true ROI, not just cost savings, from these initiatives.

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Direct Sourcing 2.0 and the Hiring Manager Experience

Beyond deeper and more meaningful candidate relationships, direct sourcing allows a business to leverage (and manage) its culture and brand to attract recruits that are easily engaged for future projects and initiatives. Hearing long-employed (and loyal) HR and business professionals discuss the traits and culture of their organization is a more significant and credible way to learn about a potential employer than through the words of a recruiter with a commission on the line. The informal testimonials of the internal hiring teams can effectively build engagement and ultimately, worker loyalty.

While the talent curation part of direct sourcing typically takes time to develop, most organizations possess an innate ability to identify strong cultural fits and highly-desirable skillsets. Additionally, the ability of internal recruiters, HR, and hiring managers to collaborate and tailor job searches to a unique team, manager, project, or location is unmatched when dealing with outside recruiters.

The level of nuance can be akin to the difference between a surgeon and a butcher. The ability to increase recruiting precision can be particularly valuable when businesses are managing specific skills-based recruiting initiatives.

Given the current challenges to find and retain top talent, leading HR organizations are investing in ways to improve the “candidate experience” (similar to the “customer experience”), where every aspect is designed to be positive, engaging, and beneficial to the recruit.

In a market where the candidate holds more power than ever before, compensation and benefits, employment perks, AND the employer’s credentials (i.e., brand, culture, vision, values, etc.) can play a major role in attracting a qualified candidates. This will continue to be true as an increasing number of candidates are incorporating their personal views on an organization’s culture and brand into their decision-making.

While the candidate experience is critical, the hiring manager experience should also be considered. Hiring managers are often on the front lines of the war for talent and must account for:

  • The specific needs of each role, position, and project.
  • The intricate requirements of a multifaceted talent acquisition strategy that balances direct hire, job boards, talent marketplaces, staffing suppliers, etc.
  • The necessary data and intelligence to make faster, more educated talent and hiring decisions.
  • The proper balance between the human touch, automation, and third-party services, etc. that can be used to find, engage, and source high-quality talent.

Traditional recruitment is not typically seen as scalable due to the manual work often associated with it, while direct sourcing relies heavily on hiring teams to drive activity, scalability, and value. Just as HR leaders are realizing that candidates should be treated like customers, hiring managers also need an experience that is seamless and boundaryless.

Business and HR leaders must also arm their hiring managers with the necessary resources, technologies, and capabilities to effectively tap into different talent pools without the worry of internal barriers or archaic inertia. To achieve this, digitization of key direct sourcing processes is vital.

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