Moderated by Ardent Partners’ Andrew Bartolini, the session featured industry experts, Christopher Dwyer, SVP of Research at Ardent Partners, and JB Nussbaum, VP of Enterprise Sales for Network, who explored the evolving demographics of frontline workforces and the external workforce strategies to optimize shift fulfillment.

In this three-part series, we provide some of the webcast highlights and a link to the full event.

Let’s begin with Part One and the key takeaways around how the workforce is undergoing a generational shift, with Millennials now being the largest working group and Generation Z expected to overtake them, bringing new expectations shaped by digital engagement and a preference for flexibility.

A Demographic Shift in the Workforce

The workforce is undergoing a significant demographic transformation, with the rise of younger generations reshaping the landscape of employment. While Baby Boomers are gradually retiring, Generation X still maintains a presence in the workforce. However, Millennials have now become the largest working generation, and in the coming years, Generation Z is expected to overtake them. This shift is not only changing the composition of the workforce but also altering workplace expectations and demands.

New Generations, New Expectations

Millennials and Generation Z bring unique perspectives and expectations to the workforce, influenced by their upbringing in a digital era. Their preferences for flexibility, purpose-driven work, and digital engagement are redefining traditional employment structures. The impact of this generational shift is particularly pronounced in the frontline workforce, which constitutes approximately 80% of the global workforce. Frontline workers span a wide range of industries, including public safety, food service, retail, healthcare, manufacturing, logistics, education, and customer service.

The Rise of the Gig Economy

Historically, discussions about workforce demographics were not as prevalent as they are today. However, businesses now recognize the need to adapt to the changing expectations of younger workers. The rise of the gig economy over the past decade further illustrates the evolving nature of work, with many employees seeking flexible schedules and greater control over their work-life balance. This trend has been accelerated by economic factors such as inflation, as well as the widespread adoption of remote work.

Flexibility and Autonomy: Key Drivers for Younger Workers

The gig economy, initially driven by the desire for flexibility and autonomy, has grown in response to economic pressures and shifting workplace norms. Many individuals, particularly younger workers, view gig work as an opportunity to supplement their income, gain experience, and achieve a better balance between work and personal life. Millennials and Gen Z, in particular, prioritize control over their schedules, which has made gig and shift-based work highly appealing to them.

Adapting Hiring and Workforce Management Strategies

From a business perspective, it is essential for hiring managers, HR professionals, and recruiters to acknowledge and adapt to these generational changes. Millennials and Gen Z now form the backbone of the frontline workforce, making it imperative to develop strategies that cater to their unique expectations. Effective talent acquisition and management strategies should incorporate flexible work arrangements, opportunities for career growth, and a strong emphasis on employee well-being.

The Power of Digital Engagement

One of the key factors in attracting and retaining younger frontline workers is digital engagement. Millennials and Gen Z are digital natives, and they prefer mobile-first communication and technology-driven work environments. Employers who leverage digital tools for recruitment, onboarding, scheduling, and internal communication will be better positioned to engage and retain these workers.

Well-Being as a Workplace Priority

Another crucial aspect is the prioritization of well-being. Younger workers place a high value on mental and physical wellness, seeking employers who support a healthy work-life balance. Businesses that integrate wellness programs, provide growth opportunities, and foster a sense of purpose within their workforce will be more successful in attracting and retaining talent.

The Future of Work: Adapting to a New Generation

Ultimately, the demographic shift in the workforce serves as a wake-up call for businesses to reevaluate their employment strategies. The expectations of Millennials and Gen Z are shaping the future of work, necessitating a shift toward more flexible, purpose-driven, and digitally connected workplaces. Organizations that recognize and adapt to these trends will not only improve their ability to attract top talent but also create a more engaged and productive workforce in the years to come.

The post Millennials and Gen Z Transforming Frontline Work, Part 1 appeared first on The Future of Work Exchange.

The Enterprise in the Metaverse

When it comes to the future of the internet, it is the metaverse that often comes to mind. Integrated technologies working together to form a virtual interactive world. While its current existence offers cutting-edge interactivity, much of the grand potential of the metaverse is yet to come. What lies on the horizon will most certainly influence the future of work and what it means to collaborate and exist as an enterprise.

Currently, enterprises that want to enhance their production processes, for example, can now replicate their facility using digital twin technology. By simulating production lines or other assets, organizations can determine potential failures before they occur and develop mitigation strategies.

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Ordinarily, another feature would take, let’s say, a few months before revisiting the scope of MSPs, right? Well, no. There’s so much more to be said about how the MSP model is becoming a nexus of Future of Work innovation.

“Innovation” in and of itself is an interesting concept; given where we are in the greater Future of Work movement, the talent technology industry is awash in new technology, enhanced functionality, fresh approaches to automation, and a convergence of both old- and new-school hiring strategies.

Late last year, Ardent Partners and the Future of Work Exchange had the opportunity to evaluate and analyze the Managed Service Provider arena. The MSP Solution Advisor provider landscape highlighted the strengths and differentiators of 13 global managed services solutions.

One of the major learnings for me, even after nearly two decades in this industry, revolved around the idea of innovation within the MSP world. Many enterprises that leverage the MSP model for extended workforce management do so with “traditional” outcomes in mind: outsourced CW processes, payroll support, staffing supplier management, with a sprinkle of “next-gen” approaches like direct sourcing and skills-based hiring.

However, the Managed Service Provider structure is a foundational solution for talent engagement, workforce management, and Future of Work-era thinking for a major reason: many of these providers are actively blending their robust features with offerings that drive scalability, talent sustainability, and talent intelligence.

Companies mentioned in this article include Magnit, Airswift Resourcing, HireGenics, and KellyOCG.

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Metaverse Defined

What is the metaverse? Simply stated, it is a virtual world(s) where people interact as 3D avatars, gaming, socializing, and working. That immersive experience is made possible by several technologies. Virtual reality and head-mounted displays, coupled with spatial technology and augmented reality bring the immersion to life. Other technologies like blockchain, artificial intelligence, and machine learning act as the brains for the metaverse, enriching the virtual environment through automated transactions, decision-making, and world-building.

The metaverse ecosystem is a vast network of hundreds of companies from a variety of industries all working toward developing specific metaverse attributes — infrastructure, economy, user experience, etc. And there are many metaverse platforms (e.g., Decentraland, The Sandbox, etc.) to put your virtual stake in the ground as no one owns the metaverse (yet).

Transition from Gaming to Business

Much of the metaverse is rooted in gaming. Unsurprisingly, children (and adults) are well-versed with virtual worlds through Minecraft (140 million monthly players), Fortnite (250 million-plus active users), and Roblox (30 million daily players). This bodes well for future generations adapting to the virtual world of work.

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The extended workforce has long been a critical realm within the concept of the Future of Work, fueling a strategic approach towards talent management that has a variety of key benefits ranging from shorter-term engagement, more focused projects and initiatives, access to the world’s deepest skillsets, and the traditional cost savings that have long been associated with this type of labor.

And, speaking of the “traditional” aspects of the extended workforce: the Future of Work Exchange defines this talent as the natural evolution of the contingent workforce, meaning that, at its core, this workforce is still comprised of non-employee talent, however, its impact, value, flexibility, purpose, and accessibility have all progressed to become key elements of the Future of Work movement (even more so than ever before).

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Enterprises and HR executives who are not at least exploring the possibilities of AI’s impact on CWM will find themselves at a competitive disadvantage when sourcing talent and executing extended workforce strategies. Beeline stated that the “effects of AI in extended workforce management are just beginning and can be seen shaping how jobs are described, how candidates are evaluated, and how contracts are written. AI will soon be employed for more strategic outcomes like workforce planning, workforce optimization, and total workforce management.”

AI Paves Several Paths for CWM 

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A little over a decade ago, when enterprise software giant SAP acquired Fieldglass (a VMS pioneer), I was quoted as saying, “By 2020, half of the global workforce will be considered “contingent” or “external.” At that point, upwards of a third (33%-to-34% and growing) of the workforce was considered external. From 2015 to the early weeks of 2020, we were getting closer and closer to that 50% threshold…and then something happened that sparked another spark in contingent workforce growth.

The COVID-19 pandemic was, of course, a watershed moment in both human and business history; it was a global health crisis that sparked an economic crisis that sparked Future of Work accelerants that we all leverage today five years later (like remote and hybrid work, for instance). During the hardest, earliest months of the pandemic, businesses needed to scale up or scale down their workforces based on fluctuating conditions; when cases were down and demand for products/services returned, hiring managers and talent leaders shored up the workforce with contingent labor. When demand waned (especially during the very difficult 2020-2021 winter), it was easier to scale down with a temporary workforce.

It was well before this, though, that the VMS platform more than proved its worth for a simple reason: the external workforce kept growing. No other solutions (technology, that is) were as well-fit and aligned with managing this growth like Vendor Management Systems.

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Think soft skills are only a recent workforce concentration? Not quite. In 1918, the Carnegie Foundation published Charles Riborg Mann’s A Study of Engineering Education, which cited that 85% of a person’s job success is a product of soft skills and that only 15% of success is based on technical knowledge. Even more than 100 years ago, the criticality of workplace soft skills was being emphasized. However, the pandemic helped bring soft skills into sharper focus as other Future of Work elements (e.g., flexibility, remote work, empathetic leadership) became mainstream concepts and areas of importance.

Now with artificial intelligence leading the way in technology utilization, enterprises have an opportunity to leverage AI for greater workforce enablement — particularly around soft skills.

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The big game offers a unique, Future of Work-oriented lens for business insights, transforming the world’s biggest sport evening into a masterclass of strategic planning, leadership dynamics, and operational innovation.

So, some business lessons from Super Bowl LIX:

• Homegrown talent is still critical to enterprise objectives. The Super Bowl MVP, Jalen Hurts, was drafted in the second round of the 2019 NFL Draft. Landon Dickerson and Cam Jurgens comprise 80% of the Eagles’ stout offensive line that was drafted…

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Upskilling is akin to learning new skills to better perform your job — not to be confused with reskilling, which is investing in skills for a different job. This leads to a key question: How critical is upskilling? According to the World Economic Forum, the U.S. could add $800 billion to its GDP by 2030 through upskilling efforts alone. Artificial intelligence can help execute upskilling initiatives and deliver on those economic estimates.

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