The Expertise Economy: How It Will Change the Way We Work

expert economy

How We Work

The world of work is going through a fundamental transition. In the age of digitization, automation, and acceleration, companies have a new imperative: to build workplaces in which employees are encouraged and given the opportunity to learn new skills as a regular part of their work lives. Workers of the future must be quick to evolve, constantly developing new skills. This is what Kelly Palmer and David Blake, two top officials at Degreed, argue in The Expertise Economy: How the Smartest Companies Use Learning to Engage, Compete, and Succeed.

The onus is on businesses to make this happen, they write. “While government can be a powerful force when it comes to launching skills initiatives, it’s companies and their leaders who need to lead the way.”

I interviewed Kelly about what businesses, employees and workers of the future — including today’s graduates — should know in order to come out on top.

 

“Expertise is any organization’s most crucial asset.” -Kelly Palmer

 

What is the “Expert Revolution”?

There have been previous major shifts in the world of work, such as the Industrial Revolution. Over the past couple of decades, there’s been a technological revolution. Now, we’re looking at an Expert Revolution, in which workplace skills are the most important currency. That’s why we call it the Expertise Economy — expertise is any organization’s most crucial asset.

With digital disruption constantly changing how business is done and offering new possibilities for how business can be done, we need a workforce full of agile learners who are passionate about developing new skills all the time.

This requires getting rid of the old ways of doing corporate L&D (Learning and Development). Top-down strategies in which bosses send employees to day-long lecture sessions in classrooms are no longer the answer. In our book, we explore the proven best practices for workers to develop real expertise, and for business leaders to inspire them to do so.

 

“It’s time to put learners in the driver’s seat. Businesses should let employees decide what they want to learn.” -Kelly Palmer

 

Shift to Skills from Credentials

Hiring managers think in terms of degrees and credentials more than skills. Will this shift over time? Why or why not?

It has to shift. We call for this to happen as quickly as possible. Already, some business leaders hire new graduates only to find that these new hires are wholly unprepared to succeed at their jobs or to navigate the real world of work, especially in this challenging and rapidly changing environment.

A university pedigree doesn’t tell a hiring manager what skills or knowledge the applicant has. The same goes for GPA, job titles, and logos on a resume — all factors that have in the past been seen as “credentials,” but in reality, don’t show you a candidate’s potential.

This is why at Degreed, we offer skill assessments and certifications. These show the kinds of expertise each candidate brings to the table. Most current resumes don’t provide a clear picture of the knowledge a candidate has learned, whether through school, in a learning program, or through years of experience.

It’s also time to fill the gap between what students learn in college and what they need to do practically to be successful in the workplace. Universities and corporations can build closer connections to help give students a better shot at developing relevant skills for the job market.

 

“One of the most important skills is being an agile learner. You want your workforce to have a desire and passion for continuous learning.”-Kelly Palmer

 

Become a Lifelong Learner

4 Steps to Managing Your Self-Talk

self talk

Managing Your Self-Talk

Self-talk is not often covered as a leadership topic, but Erika Andersen cites it as one of the most important skills to master.

Erika Andersen is the founding partner of Proteus, a firm that focuses on leader readiness. She’s the author of three other books:  Leading So People Will FollowBeing Strategic, and Growing Great Employees. All of her books are full of actionable advice from her three decades of advising and coaching executives.

I recently spoke with her about her tips to manage our internal conversations.

 

Leadership Tip: listening and mastering self-talk are critical skills for leaders.

 

Let’s talk about managing your self-talk. How important is managing self-talk?

Critically important. If I had to name the two most valuable skills I’ve learned over the past thirty years, I’d pick listening and managing my self-talk. It’s enormously powerful to be able to recognize and shift how you’re talking to yourself about yourself and your circumstances. It allows you to have much more control over how you respond to what happens within you and around you.

 

4 Steps 

You give 4 steps to managing it: Recognize. Record. Rethink. Repeat. 

Yes, here’s how it works:

Recognize: In order to manage your self-talk, you have to “hear” it. Unless you’re aware of this internal monologue, it’s impossible to change it. For instance, let’s say you’re feeling incurious about something you need to learn. You notice your mental voice saying, This is so boring – I can’t possibly focus on this enough to learn it. Once you start attending to the voice in your head, and recognizing what it’s saying, you can begin to do something about it.

 

Success Tip: writing down your self-talk is a key part of managing it.

Never Stop Learning

never stop learning

Stay Relevant, Reinvent Yourself, and Thrive

 

Almost every conference I have attended in the last ten years has highlighted the rapid changes that we are experiencing in every aspect of society. Companies need to evaluate digital futures, new technologies, and global strategies. Individuals need to develop plans to keep developing their skills.

How do we best deal with this constant pace of change?

Brad Staats is an associate professor of operations at the University of North Carolina’s Kenan-Flagler Business School. His new book, Never Stop Learning: Stay Relevant, Reinvent Yourself, and Thrive, provides the framework to help all of us become dynamic learners. He says that, “If we fail to learn, we risk becoming irrelevant.”

He also says that we aren’t so great at learning.

I recently spoke with him about his extensive research into learning.

 

“One of the most powerful ways we can learn from others is to ask, ‘What do you think?’ and be open to the answer.” -Bradley Staats

 

Learning is a Key Differentiator

Why is learning more important today than in past generations?

Learning has always been a key competitive differentiator. What has changed is that things are moving faster and increasingly we are in a winner take all (or at least most) environment. There are four factors I’d highlight that are driving these changes. The first is routinization. Through the use of technology (information and otherwise) we can knock out repeatable tasks. That means our attention can turn to new things where we can innovate. If one looks at job changes in the US over the last 30 years, the data reveals that routine jobs are flat and growth has only occurred in the non-routine settings.

jobs

The second driver is specialization. Knowledge around us is increasing, often exponentially. It is estimated a physician would need to read 29 hours a day to stay current on all the necessary knowledge. So we are forced to pick areas to dig in. The third driver is globalization. In the 1990’s, in particular, the global economy opened up as countries like India, Russia, Brazil and China flooded the global labor market with talented individuals. Success is no longer a local affair, it is a global one. Finally, we have digitization. We can capture knowledge digitally and share it around the world. All of these factors mean that great products and services can quickly capture markets and squeeze out others—so we have to learn if we are going to stay relevant. As Microsoft’s CEO, Satya Nadella, has said, “Ultimately, the ‘learn-it-all’ will always do better than the ‘know-it-all.’”

 

“Whatever we achieve inwardly will change outer reality.” -Otto Rank

 

Why are we so bad at learning?

How to Build an A Team

a team

Build an A Team

Those who aspire to be successful quickly realize that individual performance isn’t usually enough. Only a team of committed individuals can accomplish great things. So a leader’s job turns to finding, selecting, and cultivating an amazing team.

If you wonder whether you are performing at your best, look at your team. My philosophy has always been that, if they are growing, your company will follow.

 

“Successful business leaders prioritize talent-development as a recruitment tool in the same way top athletic coaches do.” -Whitney Johnson

 

One way to tell whether you are growing is to look at where your team falls on the S curve. Based on Whitney Johnson’s proprietary research around disruption, every organization is a collection of individual S – or learning – curves. You build high performing team by optimizing these individual curves, including yours. In her book, Build an A-Team, you will learn how to manage people all along the S-curve and what to do when they reach the top of the curve. As employees are allowed, even required, to surf their individual S-curve waves, disrupting themselves, you will not only be less vulnerable to disruption, you’ll also be a boss people want to work for.

 

“The mind and skill-expanding opportunity motivates great engagement more than money or accolades.” -Whitney Johnson

 

After the release of your last book, Disrupt Yourself, you traveled and met the leaders of many organizations. As you spoke with them, what surprised you most?

Many people feel stuck, like a genie corked in a lamp; if somebody (usually their boss) would just pull that cork, they could make magic. They say, “I’m ready to disrupt myself. How can I persuade my boss to let me?” Or, “How can I get my team to disrupt themselves? How can I get my boss on board with that?” In Build an A Team I answer these questions and address the fact that, in most cases, fear of failure is the cork. We may be the cork in the bottle—our own, and our employees’.

 

“Want to know if you are about to be disrupted? Take the pulse of your workforce.” -Whitney Johnson

 

Be the Boss People Love to Work For

A Travel Guide to Training Around the World

global travel

Learn from Other Cultures

Every year I have the opportunity to travel and conduct business around the world. Learning from other cultures is something I treasure.

The world is getting smaller. When I run into someone I know halfway around the world, I’m no longer surprised. And I’m reminded daily that social media is an exercise in global communication.

Getting a team trained, no matter where they’re located, can be a daunting task, even without cultural differences. Add in the need to think globally, and it can be overwhelming.

That’s where Donna Steffey and 15 other authors can help, with their book Destination Facilitation: A Travel Guide to Training Around the World. As someone who has conducted training in 25 countries, Donna is someone I was eager to talk with about developing a global mindset.  

Donna Steffey, MBA, CPLP, president of Vital Signs Consulting, is an international trainer, author, facilitator of the ATD Master Trainer™ Program, and adjunct faculty member at Lake Forest Graduate School of Management.

 

“Cultural Intelligence develops intentionally with your commitment to increasing your global mindset.” -Donna Steffey

 

The Impact of Globalization on Training

How are the major trends in technology and globalization impacting the field of training?

DestinationFacilitation-EditedbyDonnaSteffey-bookCoverThe traditional face-to-face classroom training is now less than half of all training done. According to the Association for Talent Development (ATD) 2017 State of the Industry report, that means that 51% of training is delivered via webinars, mobile, self-paced online, or other methods like DVDs or Podcasts. This represents a 10% change in the last 5 years away from traditional classroom training. With over 300 multi-national organizations employing over 35 million people around the globe, online technologies really do become the best method for reaching remote employees.

We see a trend toward mobile learning with 67% of people saying they now use mobile devices to access learning. What is interesting is that only 20% of organizations have formal mobile learning programs.

A trend known as micro-learning is becoming popular to shorten the path from learning to succeeding. Micro-learning is a bite-sized chunk of learning lasting 3-10 minutes and only covering 1-2 crucial points. It often includes interactivity and testing. According to the Dresden University of Technology in Germany, micro-learning improves retention by 20%.

 

67 percent of people use mobile devices to access learning.