Welcome to our Week-in-Review series, Catalant’s roundup of all things on-demand economy, from breaking news to newly minted reports to upcoming events in the industry.
What People Are Asking This Week: What trends can we expect to see in the future of work in 2018? How will AI continue to affect the workplace? How is technology transforming the employee experience? Where can I find an overview of key terms and definitions?
Read on for the latest in the gig economy for business this week.
Predictions for 2018 and Beyond
With the start of the new year, everyone is talking about what to expect in the gig economy and the future of work. Just a few weeks ago, Steven Hunt, Senior Vice President Human Capital Management Research at SAP SuccessFactors, provided his take on 2018 predictions for the gig economy.
In his Forbes article, Hunt discusses the increasing level of complexity in HR. While “staffing” traditionally meant looking for and securing full-time, in-house employees, it simply is no longer the case. With a major rise in short-term contractual work, HR teams must tap into the virtual, contingent workforce — which, by the way, is more global and sophisticated than ever. Emphasizing the critical importance of workforce agility, Hunts notes that by “tapping into people’s innate capacity for learning, growth and innovation,” companies are better equipped to adapt to continued upcoming changes.
Human capital experts, including Hunt, also expect improvement in the overall employee experience, especially through more advanced technological options such as chatbots, mobile solutions and social platforms that make jobs easier and quicker to accomplish. The hope is that these continued improvements will make the workplace more engaging and enjoyable for workers.
Other interesting 2018 predictions include the reconceptualization of compensation, the redesign of talent management practice to identify and address bias, the phasing out of org charts and new views on retirement. As you can see, there’s a lot to look forward to this year.
Curious about the future of the future of work? This article is definitely worth a read: Future Of Work 2018: 10 Predictions You Can’t Ignore.
What Does AI + Human Intelligence Equal?
Speaking of advanced technologies, HR expert Jeanne Meister recently published a great piece in Forbes about the implications of AI in the workplace. Meister notes the importance of developing an AI strategy and conducting research on how to reimagine the workplace, specifically in regards to talent acquisition, employee engagement and learning and development.
Reiterating the message that a greater and more personalized employee experience will be highly significant in 2018, Meister concludes that while companies must work side by side with technology, they must also pay attention to the human experience. “Look for a resurgence of and innovation in the power of storytelling,” says Meister, as she points out that ensuring employees have ample opportunities to get to know each other and connect is hugely important, especially in our digital age. Some companies are finding creative ways to do this, for example, via company podcasts, where employees can share their stories and personal experiences.
Meister co-authored The Future Workplace Experience: 10 Rules for Mastering Disruption in Recruiting and Engaging Employees, which won the 2017 Axiom Business Book Award for Best Business Book for Human Resource Professionals. Sound interesting? Read the full article on Forbes here: AI Plus Human Intelligence Is The Future Of Work.
Want to hear more from Meister? Check out our special Q & A session: Award-Winning HR Expert Jeanne Meister Discusses the Growth of On-Demand Expertise.
Gig Economy Overview and Recap
Just before the new year, Andrew Karpie and Jason Busch at Spend Matters published a 29-page report on the landscape of the contingent workforce. Outlining four distinct categories of technology and services solutions, the report dives deep into key definitions and descriptions of components and benefits.
With helpful information on some of the top platforms for businesses to engage and manage independent workers, including Catalant’s on-demand talent marketplace, Spend Matters offers a comprehensive outlook on the contingent workforce and services industry. As this landscape plays an increasingly crucial role in procurement, it’s vital for business leaders to pay attention. If you’re not yet up to speed, you might want to download and read this report: Contingent Workforce & Services Landscape Definition and Overview.
Do you enjoy reading and listening to Andrew Karpie from Spend Matters? Secure a copy of our our whitepaper The Role of Platforms in Sourcing and Engaging Business Talent, in which Karpie examines real-world case studies. Then listen to our webinar Enabling the Future of Work, in which he talks with change management expert Stuart Kliman of Vantage Partners.
From everything we’ve been reading about the future of work, it’s safe to say there’s a lot coming down the pike in 2018. Innovation is snowballing, and we’re likely going to see even more changes in the workplace in order to keep up with it all.
When it comes to human capital innovation, contingent workforce solutions, on-demand knowledge economy research, trends and updates, we’ve got you covered. Check back next week for another edition of Catalant’s Week-in-Review.