Christopher J. Dwyer, Author at The Future of Work Exchange

Digital Workspace Leader Citrix Acquired for $16.5B in Private Equity Deal

Solution Providers Technology and Innovation by Christopher J. Dwyer on 02/01/2022

If there’s anything the business world has learned over the past two years, it’s this: the very concept of “work” is an evolving, organic idea. It’s a living, breathing entity that is actively founded on the principles of market progression, the dynamics of talent and the workforce, and, most importantly, the very way “work” itself is optimized for better business outcomes.

The Future of Work has been defined as many things, but its core definition is as follows: modern business can be transformed for the sake of efficiency and effectiveness through the evolution of new talent-based strategies (particularly the extended workforce), the advent of disruptive technology and innovative tools, and the overall reimagination of business thinking and mindsets.

The COVID-19 pandemic had many, many ramifications on the world of work, however, none greater than the remote work awakening. Future of Work Exchange research has found that, during pre-pandemic times, nearly 21% of the average enterprise’s total talent base (FTEs and extended talent) was operating in a remote or hybrid environment. Going into 2022, that number has more than doubled; 43% of all enterprise talent are currently working remotely or in a hybrid work infrastructure.

Citrix has long been a forerunner of the “digital workspace” industry since its founding in 1989. Today, the tech behemoth is a staple of unified communications and automation, providing virtual desktop technology to nearly 400,000 customers across the world, including 98% of the Fortune 500.

Yesterday, news broke that private equity firms Vista Equity Partners and Evergreen Coast Capital had acquired Citrix for $16.5 billion in an all-cash deal. The plan is to match and merge Citrix’s wide range of digital workspace and unified communications tech with TIBCO, a Vista portfolio company that seamlessly integrates applications and data across the enterprise technology infrastructure.

“The combination of TIBCO with Citrix will be a game changer. Over the past three decades, Citrix has established itself as the leader in remote work, providing secure and reliable access to all the applications and information employees need to get work done, wherever it needs to get done,” said Tim Minahan, Executive Vice President of Business Strategy, Citrix. “With the addition of TIBCO’s connected intelligence capabilities and solutions, we can enhance our digital workspace platform and the results we help our customers to achieve.”

The essence of this acquisition is a straight Future of Work play: Citrix will have additional technological support to expand its virtual desktop platform with the necessary arsenal to provide real-time intelligence, seamless integrations, and enterprise-grade security in a digital working environment.

A source close to the deal confirmed this vision. “[The acquisition] is certainly a testament to the overall strengths of the [Citrix] platform and the executive team’s long-term vision of where the product can go during these evolving times,” the source said, adding that “this is a “proof of delivery” of the remote work work model.”

This is a Future of Work gamechanger, for sure. The acquisition, and subsequent merger, means that Citrix’s incredible breadth of workspace technology can be buoyed by TIBCO’s cloud-fueled integrations and real-time data and intelligence. These two facets, in a convergence unseen in the enterprise solutions market, is a transformative shift towards a more secure, more flexible, and, most importantly, a more agile, hybrid cloud infrastructure for businesses across the world.

Additional Future of Work Exchange analysis:

One of the biggest “knocks” on the digital workspace/remote work environment is its lack of enterprise-level data security. TIBCO’s robust strengths in this critical attribute will help Citrix expand its overall reach to include those organizations that were once trigger-shy when it came to a hybrid workplace due to concerns over security of financial data, intellectual property, etc.
The concept of “better business outcomes” has long been a core Future of Work mindset. The Citrix/TIBCO merger translates into the ability to “blend” virtual workspace technology with agile analytics and intelligence….meaning that, no matter where a professional is located, they can make more educated business decisions by tapping into the same stout data that is available when tethered to an in-person IT infrastructure.
With the extended workforce expected to comprise half of the average company’s total talent pool by the end of the year, this deal reinforces another Future of Work shift, one that relies heavily on non-employee remote workers that require access to enterprise systems, IP, data, and other critical assets in order to get work done effectively.
This deal, which taking into account the combined Citrix/TIBCO solution, is the largest ($25 billion) private equity deal in enterprise tech history. The move displays a level of utmost confidence in Citrix’s current and future ability to deliver on its greater Future of Work vision.

FOWX Notes: January 28 Edition

General Insights by Christopher J. Dwyer on 01/28/2022

Some picked-up pieces, news, and insights from across the evolving world of talent and work:

On Tuesday, the Biden administration withdrew its vaccination and testing regulations for large employers. The Supreme Court’s rejection earlier this month forced the President’s hand here. While vaccination mandates would have helped the United States gradually tick up immunity, especially in the age of Omicron, now it is solely up to large enterprises themselves to keep or introduce vaccination and testing mandates as the winter months drag by.
Although talk of “COVID endemicity” is absolutely premature, it is critical for businesses to look at a brighter, more hopeful future. Epidemiologists and pundits alike were both quick to talk COVID as an eventual endemic disease and strike the discussion down given the consistent curveballs the novel coronavirus has thrown at us over the past two years. However, the power of optimism is critical, especially today, when so many businesses and professionals are stricken with various forms of fatigue. It is imperative that companies look ahead, even to this coming spring and summer, to boost optimism that better days are ahead and to “open” innovative thinking and product development.
An exciting new European labor market report by PRO Unlimited finds some interesting trends. PRO’s new Labor Market Report for Europe finds that IT skillsets are in-demand, time-to-fill rates are climbing high, and that American trends are similar across the world. In its Belgium-specific analysis, for example, the report found that “sourcing these individuals [sales, IT, business development, etc.] over the last three quarters has proven more difficult than in recent years, with the average time to fill increasing from 15 days in 2020 up to 23 days in 2021. This is a result of an increase in international talent acquisition in the contingent space, which has coincided with the greater interest in remote work.”
With so much discussion around the pros and cons of remote and hybrid work, it’s refreshing to see innovative companies thriving within this model. Great article at CNN proves that forward-thinking organizations that were once vehemently anti-remote work are now fully-remote, with leaders at these organizations stating that employees have never been more satisfied nor more productive. “The shift to remote work over the course of the pandemic has had a noticeable effect, said Cindy Owyoung, vice president of inclusion, equity and belonging at Robinhood. “Over time, it became increasingly clear that our employees were happiest and did their best work when they had the flexibility to determine where and when they work best,” Owyoung said.”

In 2022, the Future of Work Must Be Driven By “Purpose”

Business Leadership Talent by Christopher J. Dwyer on 01/27/2022

The Future of Work means very different things to different executive leaders, workers, and business professionals. For some, it’s a focus on technology, innovation, and new forms of automation. For others, it’s about the strategic transformation of how the greater business operates. For those in HR, talent acquisition, or contingent workforce management, it’s an evolving focus on how talent is engaged, sourced, and onboarded. And, historically, the Future of Work simply translated into the achievement of better business outcomes via the utilization of new solutions and strategies.

In 2022, however, the Future of Work must be driven something that affects all levels of the enterprise and its workforce: purpose.

The “Talent Revolution,” which is what “The Great Resignation” is truly driven by, is a deeper representation of this statement. Workers are leaving their jobs because, in an age when work defines who we are as people, there should be some semblance of humanity, emotion, and, most critically, purpose behind what we do. The COVID-19 pandemic thrust all of us into a collective reawakening of sorts; when faced with consistent anxiety, stress, and trauma, workers became more human and began to integrate the emotional and professional sides of their personas.

Work attributes such as flexibility, remote and hybrid work, empathy (and empathy-driven leadership), pre- and mid-pandemic workplace safety standards, and an inclusive culture are crucial ideas for the modern-day worker. Too many business leaders are pushing the wrong agenda in regards to the so-called “Big Quit,” in that workers don’t want to work, don’t want to commute, and are only looking for higher compensation.

The truth is this: workers today want to work, but they want that work to have a purpose that aligns with their beliefs, their goals, their journeys, and their cultural personas. On the surface, it’s the ability to say “I love my job,” and, going much deeper, the ability to state, “This job fulfills my purpose.”

Tens of millions of workers left their positions in 2021, a record year for resignations. In the early days of the pandemic, many professionals were grateful to be working, to telecommute, and to continue providing for themselves and their families during uncertain times and the biggest health crisis of our lifetime. During the pandemic rollercoaster ride, many professionals began to understand what they wanted from their careers and their jobs, owing a newfound sense of purpose within the “how” and “why” of work.

Every business executive should be placing purpose in perspective in how they manage their staff, how they engage and acquire talent, how they lead and mentor their talent, how they operate the overall enterprise, and how they integrate technology and innovation into corporate processes and initiatives. Purpose is a multi-faceted concept that will drive the Future of Work in 2022; it is up to businesses to support and cultivate the symbiotic relationship between purpose-driven thinking and the way the organization addresses how work is done.

The Extended Workforce is a Cornerstone of the Future of Work

Talent by Christopher J. Dwyer on 01/26/2022

Over the past several months, I have been focused on (amongst many other research findings) a key statistic in Future of Work Exchange research: 47% of the average organization’s total workforce is considered “extended” or “non-employee.” This means that nearly half of the staff surrounding you (or, of course, working remotely) is comprised of temporary staff, SOW-based labor or professional services, gig workers, independent contractors, freelancers, etc.

Back in 2014, based on the trajectory of the growth of the contingent workforce, Ardent Partners had boldly predicted that it was a matter of when, not if, this workforce comprised half of the average company’s total staff. “Accelerants” along the way, particularly the growth of digital staffing, advanced Vendor Management Systems, Managed Service Providers expanding their breadth of offerings, and direct sourcing, all played vital roles in pushing the extended workforce to where it is today.

Of course, the pandemic played a role, too, in that more and more businesses found that the best way to be agile, and the best way to scale their workforce up and down as the market dictated, was to heavily-involve extended talent into their organizations. Future of Work Exchange research found that 82% of enterprises derived true workforce scalability and flexibility from extended talent throughout 2020 and 2021, with another 70% of businesses stating that the extended workforce assisted them with “business continuity” initiatives in the face of uncertain economic times.

That’s right: the extended workforce wasn’t just a way for businesses to leverage on-demand talent when and where they needed it…it was a way for enterprises to survive and thrive when the world was in utter chaos.

There are other critical aspects related to work optimization that were accelerated due to pandemic times, including remote and hybrid work becoming table stakes, DE&I becoming more integrated into core talent acquisition initiatives, and the rise of the empathy-led, inclusive workplace. These are all crucial attributes of the Future of Work that have been, since this site launched, significant conversation pieces around how enterprises effectively get work done.

Think about it: the Future of Work movement has always followed, amongst other key focal areas, a considerably powerful mantra. Optimize how work is done. In both the good times and the bad, non-employee talent has been there to help businesses maintain continuity, support resiliency efforts, and, most importantly, serve as a talent-fueled boost to true workforce scalability. Getting work done today means tapping into the very strategies that support Best-in-Class extended workforce management, including:

Boosting candidate experience and hiring manager experience efforts with “Direct Sourcing 2.0” technology and approaches.
Applying the next-generation functionality and purpose-driven technology of today’s extended workforce platforms to both tactical and strategic elements of extended workforce management.
Deriving value from integrated workforce management systems that can play “platform” roles in managing all facets of the extended workforce, from direct sourcing and SOW management to DE&I.
Providing upskilling and reskilling opportunities to talent pool candidates as a way to enhance talent redeployment efforts.
Developing true talent sustainability that can blend total talent intelligence with talent nurture processes to ensure that all networked workers are amiable and open to reengagement for new and/or continued projects and initiatives.

The extended workforce will soon comprise half of the total global workforce. As enterprises continue to optimize how work is done, this workforce will continue to be a crucial cornerstone for the Future of Work movement.

The Remote Worker Burnout Epidemic…And Why Too Many Professionals Can’t “Unplug”

Business Leadership by Christopher J. Dwyer on 01/25/2022

Flexibility is at the very core of the newfound “Talent Revolution” you’ve been hearing so much about recently. Sure, it’s being called “The Great Resignation,” but we all know that the underlying foundation of the so-called “Big Quit” is that the workforce has collectively decided “Enough!” and have been angling for better benefits, safer workplace conditions, and, most importantly, the flexibility they require to live their lives effectively with a solid semblance of work-life integration.

The Future of Work Exchange has covered this attribute of our industry quite frequently, and we truly believe that until business leaders come to the conclusion that these facets of work truly matter to their talent, The Great Resignation will become “The Great Stalemate” and we’re going to see millions more workers voluntarily leave their jobs over the early months of 2022.

For remote workers, the very concept of flexibility is a core aspect that’s baked into their everyday roles. Some professionals have been work-at-home staples for years and years, while others have just recently become part of this crowd when the pandemic hit. No matter the maturity of the remote-working professional, there seems to be an epidemic occurring that is oft-overlooked when discussing the age-old (and now, much-too-prevalent) issue of “burnout”: the inability to “unplug” both laptops and minds.

For years, I’ve kept a running diary of Future of Work-related ideas in the “Notes” app on my iPhone, which is always nestled and charging on my nightstand. If I’m awake at 3:30am and an idea strikes me, boom, it’s jotted down and revisited some time the day after. There are evenings when the glow of my laptop fills my home office at 1am, with some music playing in the background (lately, I’ve been obsessing over both Black Map and the Magna Carta Cartel), and pages and pages ahead of me to fill.

For most days (and nights!), my brain can’t be “turned off,” which, in turn, means my laptop is also not turned off. Employee burnout occurs when professionals clock more hours than they should because of a variety of reasons (one today being staff shortages), when they are tasked with the work of multiple individuals and have to handle it solo, or, when they toil as an entrepreneur running their own business (or, working for a small business and wearing “multiple hats”). The list goes on, but the Future of Work Exchange has frequently made the call for business leaders to not ignore employee burnout.

Many individuals may consider remote work a way to avoid burnout, however, the exact opposite is true: it’s happening at a scale that is similar in size and impact to traditional worker burnout. Remote workers may feel that their leaders expect them to be available both in and outside of typical work hours, while others could “condense” work on a particular project by burning through 12-hour (more more) workdays. There’s also a long-unfortunate reality that many professionals that work remotely feel mistrusted by their bosses since the in-person factor isn’t there for check-ins and similar meetings.

With a pandemic still raging and the Omicron variant keeping caseloads at near-triple what they were in early 2021 at their worst, the remote workforce has the added anxiety and stress of dealing with homeward disruptions (sick teachers and children causing school or daycare interruptions, etc.) on top of an added workload within their roles. The fact is this: right now, in the early days of 2022, remote worker burnout is a very real and very catastrophic epidemic that is not getting the attention it warrants.

Working remotely, whether it’s a full-time setup or part of a hybrid work infrastructure, is a flexible benefit that has both aided productivity and contributed to enhanced workplace safety controls. However, two years into this health crisis, and the sheer volume (over 42% of all workers, according to Future of Work Exchange research, nearly double what it was pre-pandemic) of remote workers translates into burnout and stress becoming unfortunate realities for these types of positions.

To curb remote worker burnout, business leaders must take into account the following strategies:

Encourage remote workers to take time for themselves for exercise and overall wellness. We’ve seen Zoom happy hours and Friday afternoon cocktail sessions so remote workers can take part in workplace activities that don’t involve shop-talk. While these are a fantastic idea, there needs to be more support for these professionals outside of the office. Some remote workers feel guilty if they take 45 minutes during the workday to hop on their Pelaton or take the dog for a long walk; the reality is, however, that business leaders and managers should be encouraging remote staff to incorporate exercise and similar activities into their daily routines. Top-down encouragement is the key here to make remote workers feel more comfortable about leveraging exercise during the workday. (This “time” doesn’t have to necessarily revolve around exercise; merely encouraging workers to take periodic breaks away from their laptops is incredibly beneficial.)
Provide remote workers with the necessary tools, guidance, and services for mental health support. This is an area that traverses beyond mere support from immediate leaders and managers and into providing remote workers with the actual digital tools, human-led services, and other offerings. Telehealth psychiatry support is incredibly beneficial for remote workers that are in need of virtual talk therapy, especially in the time of COVID; too, with so much personal stress and anxiety on top of typical work-related issues (which, of course, are bringing on burnout), it is imperative that leaders actively communicate the availability of mental health services and loop these offerings into existing healthcare plans.
Enhance access to digital workspaces (and communicate the operational merits of such technology). Citrix’s CMO, Tim Minahan, recently wrote on the Future of Work Exchange that businesses can fuel innovation through remote and hybrid work. This could not be more true, as organizations that tap into the power of unified communications and digital workspaces can effectively drive collaboration, product development, and improve innovative ideation across the greater business. Remote workers required on-demand and digital tools that can not only help them get work done, but also communicate with leaders and colleagues in an efficient manner. A crucial component of remote worker burnout is having to experience less-than-ideal systems access, lack of communication with team members, and outdated technology.

There are many other factors that business leaders can leverage to reduce remote worker burnout, including extending more frequent encouragement over tasks performed well (“thank you”s go a long way!), subsidizing digital wellness programs (such as Pelaton’s monthly membership), and providing additional “mental health” days that fall outside of traditional paid time off.

The Link Between DE&I and Direct Sourcing

Direct Sourcing Talent by Christopher J. Dwyer on 01/24/2022

In 2022, diversity is no longer a “check-a-box” factor for many enterprises around the world; rather, it has become a cultural movement within business that emphasizes the depth of talent pools, talent communities, and talent networks without bias or barriers. The truth regarding diversity, equity, and inclusion (DE&I) is that direct sourcing programs (and contingent workforce management (CWM) programs) that are diverse tend to be more successful. If businesses can embed a spirit of inclusion within their direct sourcing processes and act in accordance with this mindset, they can broaden the existing talent landscape and improve upon it with new ideas and opportunity.

And, while established diversity programs previously existed in many enterprises, the events and civil unrest of the past two years drove many businesses to develop and communicate more purpose-driven goals, which are linked to societal, economic, technological, and sustainable shifts. To achieve these goals, a large number of businesses are trying to harness the power of a diverse workforce.

Using direct sourcing to hire diverse talent gives HR teams a direct ability to link purpose with DE&I efforts. For example, businesses can opt to tap into professional networks that were already designed for diverse workers from various backgrounds, cultures, and genders and link these to talent curation efforts. Direct sourcing initiatives can also benefit from “diversity automation” that is enabled from direct sourcing platforms that have partnerships and integrations with diverse job boards and networks. They can also offer anonymizing functionality that can hide specific information about different candidates.

Layering DE&I into direct sourcing is about changing behaviors and removing hiring barriers and unconscious bias from talent engagement and talent acquisition. Utilizing technology to help guide and enforce a new mindset can be extremely valuable and create awareness that the deepest talent pools are diverse talent pools.

Future of Work Exchange research finds that DE&I initiatives will be boosted with next-level intelligence over the next year-and-a-half. DE&I remains a critical piece of direct sourcing and talent acquisition overall. Today, roughly a quarter of all businesses utilize AI within direct sourcing for DE&I purposes (27% for worker diversity data and 24% for general diversity and inclusion insights). More than half of all enterprises plan to use AI to drive these initiatives over the next 18 months. Businesses that invest in developing AI-led data collection will be able to cast a wider net within the realm of diversity, capturing gender, culture, background, neurodiversity, etc. These insights can provide hiring managers and executives with the intelligence needed to monitor and improve DE&I initiatives.

Diversity, equity, and inclusion represent, perhaps, the most important of the “strategy-led” Future of Work tenets and deserve a rightful place in the pantheon of work optimization approaches. Diverse workforces, inclusive workplaces, and an overall environment of equity can pay massive dividends for businesses seeking to spark innovation within their total talent community, especially in an unsettled labor market that will see a hopeful end to the so-called “Great Resignation” in early 2022.

Reminder: Join WorkLLama, Ardent Partners, and the Future of Work Exchange this coming Thursday (12pm ET) for an exclusive webcast on “Direct Sourcing 2.0,” which will highlight how businesses can develop powerful, repeatable, and scalable direct sourcing processes to drive next-generation talent acquisition and recruitment strategies. Click here or on the image below to register.

The Four-Day Work Week Can Be A Reality…But Not Until the Pandemic is Over

Business Leadership Talent by Christopher J. Dwyer on 01/20/2022

Researchers at Cambridge University, Boston College, and Oxford University, not-for-profit organization 4 Day Week Global, UK think tank Autonomy, and the 4 Day Week UK Campaign, along with over 30 businesses across the UK, are set to begin a trial of four-day work weeks from June until December 2022. The study, which is open to other companies that apply before the program starts, aims to put real-world data behind the benefits of the four-day work week. “The four-day week challenges the current model of work and helps companies move away from simply measuring how long people are “at work,” to a sharper focus on the output being produced. 2022 will be the year that heralds in this bold new future of work,” Joe O’Connor, pilot program manager for 4 Day Week Global, told Mashable earlier this week.

The four-day work week has long been perceived as a savior for productivity and a boost for overall employee engagement, allowing employees with the option to savor three-day weekends and spend more time with their families and loved ones. An “automatic” additional day off every week would certainly improve mental health, employee wellness, and help alleviate some of the issues that workers have been dealing with over the course of the past two transformative years.

I was highly encouraged by a study run by the Reykjavík City Council in Iceland in which 2,500 employees participated. “Workers reported feeling less stressed and at risk of burnout, and said their health and work-life balance had improved. They also reported having more time to spend with their families, do hobbies and complete household chores,” the BBC article stated.

Here’s the caveat, though: the Iceland trial took place from 2015 to 2019. And, the upcoming UK experiment will take place during a pandemic.

Nearly every facet of both life and business has been altered in some profound manner since March 2020. Many of the attributes of work, including traditional commutes and afternoon lunches with peers, were taken for granted the second our cities and towns went in lockdown. In fact, with the Omicron variant raging across the United States and other countries around the world, we still those aspects for granted whenever there’s an exposure or infection and we’re quarantining for five, seven, or ten days (depending on country-specific guidance and restrictions).

The Future of Work Exchange was created with many concepts in mind, but one core goal was to point to the forward-thinking ideas, technology, and strategies that support work optimization and the Future of Work movement. “Flexibility” is a linchpin to how companies enhance how work is done in today’s evolving business environment, and, yes, that does include progressive approaches such as the four-day work week. This mode of work will have its benefits, no matter when it’s launched; employees will feel more engaged, workers will be able to connect more with their loved ones, and, yes, there is the fact that staff will work “smarter, not harder” and improve overall productivity.

There are reasons, though, why right now (meaning, literally, right now) may not be the proper time to launch such an experiment. Here’s why:

The prevalence of remote and hybrid work is translating into a failure to “disconnect” from work. I can attest to this first-hand: there are typically two or three evenings per week (sometimes more) when the bright lights of my laptop illuminate my home office while I’m listening to a new album or film score, typing away and not noticing that it’s 1am. For many workers that are now part (or have been part of) remote or hybrid infrastructures, the issue of “burnout” has always been an issue. Sometimes, no matter what the calendar looks like, a worker is going to put in well over 40 hours (and possibly close to 50) if they cannot disconnect from their strategic projects and initiatives. It’s a much different story in light industrial and similar industries, because…
Four-day work weeks are not “one-size-fits-all,” as in-person operations heavily favor a shortened calendar (with some risk). When forklift drivers, picker-packers, and those directly on the shop floor have the ability to condense their work into four instead of five days and maintain their productivity, it’s a win-win for both employees and executives. As stated above, however, white collar workers are not guaranteed to not work on those fifth days given the easy access to enterprise systems and their home office setups. The “risk” for non-remote employees is quite straightforward: what happens when manufacturing targets aren’t hit, or when “stow” goals are off at the end of the week? There is inherent risk built into four-day work weeks for these types of industries, that when mitigated, will surely be outweighed by other benefits.
There is too much uncertainty regarding the pandemic and its immediate workforce ramifications. “The Great Resignation,” which we call the “Talent Revolution,” is masking the true foundation of the long-term labor market. There is no way to conduct specific types of work-based experiments when, in the United States alone, over four million workers are resigning monthly from their positions. There are still big-name CEOs and executives that eschew remote and hybrid work, not to mention the fact that COVID cases are on a seven-day average of over 800,000, nearly triple the amount during the horrible 2020-2021 winter surge. It may be too much to say that COVID needs to be endemic before businesses begin tinkering with four-day work weeks, however, the next couple of months will prove to be yet another series of uncertain days when businesses will flirt with vaccine mandates for employees (and customers), staggered opening depending on caseloads, and other reactions to an ongoing public health crisis.

There are many other issues with the shortened work week that are linked to the “customer experience,” in which a day in which employees aren’t manning call centers or “Contact Us” chats could negatively impact relationships with key buyers. This has been a key pivot point for artificial intelligence in the workplace, allowing AI-led interactions help customers. As this form of AI becomes more prevalent (and accessible), businesses will have an easier time moving to the condensed work week. For now, however, the pandemic brings too much disruption, especially in the throes of the Omicron surge.

Start Off 2022 With Some Exciting New Future of Work Events!

General Insights by Christopher J. Dwyer on 01/19/2022

After the holiday lull, this is an exciting time for HR, procurement, talent acquisition, finance, IT, and other business leaders, not just because 2022 finally gets into full swing, but also because it’s the official “restart” of industry events! The Future of Work Exchange is incredibly excited to join several big events over the next couple of weeks, with plenty more in store for the month of February.

First up: tomorrow, join Beeline, iValua, Ardent Partners, and the Future of Work Exchange for its annual “Big Trends and Predictions” webcast. Ardent’s Chief Research Officer, Andrew Bartolini, and I will be joining Beeline’s Linc Markham (VP of Product Strategy Ecosystem) and iValua’s Vishal Patel (VP of Product Marketing) to talk procurement, HR, and Future of Work trends and predictions for 2022

Next week: Super excited to join WorkLLama’s COO and co-founder, Saleem Khaja (as well as other to-be-announced special guests), for an awesome discussion on the evolution of direct sourcing and how “Direct Sourcing 2.0” strategies, solutions, and technologies can revolutionize talent acquisition and talent engagement.

Also on tap for next week: I’ll be joining the World Staffing Summit for a featured appearance on “Why the Extended Workforce is the Cornerstone of the Future of Work” during its North American Day of the event. Neha Goel of Utmost and Cesar Jimenez of myBasePay will co-present with me. The Future of Work Exchange will also be represented on a panel discussion hosted by the team at JoinedUp.

Why Agility Should Be The Foundation of Every Business in 2022

Business Leadership General Insights by Christopher J. Dwyer on 01/18/2022

In the first month of the pandemic (March 2020), I quickly became a fan of The Atlantic’s Ed Yong and his consistent and informative coverage of the coronavirus crisis. Yong would end up winning the 2021 Pulitzer Prize for Explanatory Reporting for his collection of 2020 work as the pandemic was unfolding, along with its healthcare system ramifications, its effects on the frontlines, and coverage of the historic vaccine development that followed months of trauma and uncertainty.

This past weekend, I re-read one of his first pieces on the pandemic (“How the Pandemic Will End”) and was struck by the below paragraph, which I had to read several times because of the striking mode of thinking that this would be in the rear-view by the time we hit 2022:

“It’s likely, then, that the new coronavirus will be a lingering part of American life for at least a year, if not much longer. If the current round of social-distancing measures works, the pandemic may ebb enough for things to return to a semblance of normalcy. Offices could fill and bars could bustle. Schools could reopen and friends could reunite. But as the status quo returns, so too will the virus. This doesn’t mean that society must be on continuous lockdown until 2022. But “we need to be prepared to do multiple periods of social distancing,” says Stephen Kissler of Harvard.”

And here we are, in 2022, dealing with another variant of concern that is causing record cases, overwhelmed hospitals, confusing CDC guidance, and continued ramifications for an evolving labor market. I don’t think Yong or any of us would have still thought we’d still be in this position, let alone wearing facial coverings in 2022. In fact, I vividly recall a conversation with my mother in the summer of 2020 in which she had called me after she saw an epidemiologist on television that had stated that masks would be part of our lives through 2022 and possibly beyond. “I can picture a scenario where we still have to,” I said, thinking of the then-Presidential administration’s utter lack of failure in containing the pandemic, “but I really think we’re only looking at another year of this.”

Well, I was wrong, as was everyone else. Because two years in and the pandemic is still throwing curveballs at us. Facial coverings are recommended indoors, even for those of us vaccinated and boosted. Talk of a milder Omicron means little if the United States is averaging over 800,000 cases a day and hospitals are overwhelmed. And it also translates into a need for something else that’s been oft-recommended since day one: business agility.

Back in March 2020, the world was in panic mode. Layoffs, furloughs, supply chain disruptions, workforce issues, etc. were all the norm. The businesses that were able to thrive were the ones that could respond dynamically to the real-time, real-world problems that that COVID-19 pandemic wrought on the world at-large. What does “dynamically” mean in this instance? Well, it’s a multifaceted answer, but one that is rooted in the very foundation of business agility:

Pivoting to alternative supply and materials sources when supply chain issues immediately erupted (and are happening now as China imposes an Omicron-fueled lockdown).
Engaging on-demand talent and incorporating the extended workforce into functions across the greater business.
Moving away from “resiliency” and into true “adaptability” as the business continues to shift due to societal, political, and cultural changes.
Integrating diversity, equity, and inclusion (DE&I) into not just talent acquisition strategies, but the very fabric of how the business operates.
Pushing empathetic and empathy-led leadership as a way to foster better relationships with (and, more importantly, retain) talent and staff.
Leveraging digital workspaces to support the permanent move to remote and hybrid work, and;
Blending elements of digital transformation with existing technological infrastructures to create a truly digital enterprise that can drive operational scalability when or how it is needed most based on corporate dynamics.

The Atlantic‘s Katherine J. Wu’s piece yesterday is the best way to approach the Omicron wave from both business and personal perspectives, and supports the criticality of agility in the months ahead. As continued uncertainty looms, it is crucial for business leaders to keep relying on the agility methodology that has helped them thrive over the past two years.

“What we can say is that the higher a wave crests, the longer and more confusing the path to the bottom will be. We need to prepare for the possibility that this wave could have an uncomfortably long tail—or at least a crooked one…But as the virus continues to trickle into more rural, sparsely populated parts of the country, that story gets more complicated: a smattering of regional peaks could slow and lengthen the overall decline. We tend to talk about “the peak” as if it’s one monolithic thing, but it’s an aggregate of asynchronous outbreaks…”

The Four Things that Will Determine the Future of “The Great Resignation”

Business Leadership Talent by Christopher J. Dwyer on 01/17/2022

By now, you’ve heard the phrases. “The Big Quit.” “The Great Resignation.” “The Great Reassessment.” Around these parts, we’ve typically referred to the massive, massive numbers of workers voluntarily leaving their jobs as a “talent revolution” unlike anything businesses have ever experienced before. Calling this a “revolution” rather than attributing the volatile labor market solely to a continuously-raging pandemic is selling short so many aspects of what today’s workforce truly wants, needs, and, most importantly, deserves.

In December alone, 4.5 million workers resigned from their positions. In September of last year, it was 4.4 million. October and November’s stats were just as eye-opening. For nearly the past year, the Department of Labor has constantly been breaking its own records for the “highest number of resignations in a single month,” with May 2021 serving as the first solid month of The Great Resignation.

Halfway through the first month of 2022, the expectation is that January will topple those December 2021 figures, adding to an already-volatile labor market that is consistently disrupted by yet another coronavirus variant, uncertainty regarding vaccine mandates, and other market-shifting dynamics that are proving to turn 2022 into yet another transformational year for the world of talent and work.

While I’m a bigger fan of the phrase “talent revolution” in lieu of “The Great Resignation,” the facts don’t lie: tens of millions of workers have left their roles over the past nine months and there are too many reasons why to list out in a single article on the Future of Work Exchange. The focus should be on solving this, not merely talking about how disruptive it is (although this is certainly a gigantic pain to hiring managers, HR execs, and talent acquisition leaders that are absolutely struggling to fill positions, especially in certain industries).

That being said, here are three things that could determine the future of The Great Resignation:

The Omicron variant’s peak hitting rural America, the South, and pieces of both the Midwest and the West Coast. There are optimistic signs that Omicron is peaking in the Northeast (where I call home in Boston), New York, Washington D.C., etc. Many of the jobs quit over the past year have been in industries that have shouldered the brunt of the pandemic’s worst, whether it’s in retail, healthcare, hospitality, etc. These are positions that are not, unfortunately, prone to flexibility, safer worker conditions, and competitive compensation. The constant rollercoaster effect of the pandemic’s surges and waves have meant that workers cannot appropriately support remote learning when it was the only option, cannot work due to a lack of daycare, and are often forced into working conditions that aren’t equipped with the best PPE or vaccine and mask mandates. If Omicron is truly as mild as scientists indicate, and if this is the last stop on the road to endemicity, then the regions that aren’t peaking with Omicron will soon, and that could mean (given the speed at which this variant’s cases cause and respectively fall) that, by the spring months, the country will be in a much, much better place than it is now for public health and safety.
Business leaders finally realizing that aspects such as empathy, culture, and flexibility aren’t just “nice-to-have” elements. We’ve covered it here before on the Future of Work Exchange; some well-known business leaders touting their dismissal of remote and hybrid work, and only revealing that they have no clue that, of course, business culture evolves. Major labor market shifts (in pre-pandemic times) were because of economical and financial reasons; although huge increases in unemployment would certainly cause personal distress, the major difference over the past two years is that workers were faced with uncertainty, anxiety, and stress at both the professional and personal levels. Thus, workers require some level of emotional support as well as an optimistic, positive, and inclusive workplace culture. The “flexibility” problem is simple: bake remote and hybrid work into the very fabric of every position that can support it (and make these flexibility-driven changes permanent!).
Inflation becoming too much of a financial burden. The inflation problem is real. Everything from cars to diapers to produce are several percentage points more expensive now than there were just a couple of years ago. For some individuals, this may not be an issue, however, for many more, it’s incredibly disruptive. Many workers hit “pause” on their careers in the spirit of finding happiness, satisfaction, and prosperity. Those dreams are squashed very quickly when household necessities cost 5% or 10% more than they did a year or two ago. Look for more workers to find positions that may check several (but not all) of their ideal workplace boxes until the economy is less inflated than it is today.
Businesses that lead with innovative talent acquisition models, including direct sourcing and AI-driven talent analytics, will fare better than other organizations. Artificial intelligence-led decision-making. Hiring managers with access to vast data oceans. Automated referral campaigns and digital recruitment marketing. The power of “Direct Sourcing 2.0” strategies. These are all innovative approaches towards finding the best-fit candidates; as businesses begin to harness the power of advanced talent acquisition solutions, combined with the benefits of AI-fueled data and predictive analytics, they will create the ideal environment in which to find, engage, and source the best-fit talent when, where, and how it is needed most. Too, the value of the remote and hybrid work models and their impact on talent acquisition cannot be understated; there is an increase in the availability of remote positions, and with business leaders expanding roles to those across the globe (instead of just their backyard), they are opening new channels of talent that can work from anywhere.