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

Culture Your Culture: Innovating Experiences at Work

culture

Innovating Experiences at Work

Organizational culture isn’t just a hot topic–it’s an untapped asset and potential liability for all businesses. And yet, for all its potential to make or break, few know how to manage cultures with proficiency. In her newly released book, Culture Your Culture: Innovating Experiences @Work, Karen Jaw-Madson provides the much needed, step-by-step, “how-to” for designing, implementing and sustaining culture. Karen is principal of Co.-Design of Work Experience where she focuses on culture and organizational change.

We recently had the opportunity to ask Karen some of our own questions.

 

A 2015 survey from Columbia Business School and Duke University found that out of almost 2,000 CEOs and CFOs, 90% said corporate culture was important, but only 15% felt that their culture was where it needed to be.

 

Would you give a quick synopsis of DOWE? What is it and how does it work?

Design of Work Experience (DOWE) is a concept and methodology that partners employees and their employer to co-create, implement, and sustain culture. DOWE is comprised of four main components: the combination of DESIGN and CHANGE processes enabled by leveraging and building CAPABILITY and ENGAGEMENT throughout. When you dig deeper, the process is further segmented into 5 phases: UNDERSTAND, CREATE & LEARN, DECIDE, PLAN, and IMPLEMENT. All the phases are organized as a series of iterative learning loops, each with its own specific set of activities.

 

4 Components of DOWE

Is there one of the four components of DOWE that is more difficult than the others?

The difficulty (or ease) with any aspect of the DOWE process would depend on the individual organization–their current strengths and capabilities, as well as their current context. For example, a company used to constant change may find the change process more familiar than one that has not experienced a lot of change. Another may be dealing with apathy, so engagement may be a challenge, and so on and so forth.

5 Break-Through Insights that Create a Meaningful Workplace

meaning
This is a guest post by Danny Gutknecht, CEO and Co-founder of Pathways, an advisory firm that helps organizations tap their potential. His new book is Meaning at Work – And Its Hidden Language.

 

Create a Meaningful Workplace

Organizations have blundered in their attempts to provide purpose and meaning for employees. But meaning and purpose are not something that companies can provide.

Meaning is a human need that runs an operating system intrinsic to itself. No one can plot it for us; we can’t download it and install it like an app. We can’t live up to or adopt values painted on the wall.

Until we understand the principles of how meaning works for the organization and for human beings, and implement processes that will allow meaning to occur, we’ll continue to experience the churn that comes from lack of alignment.

Consider these five break-through insights that can help create a meaningful workplace:

 

1. Learn how meaning works. 

Meaning is created daily through experience and interactions we have with everything in our lives. We have an inner dialogue with our work, relationships and organizations. Our meaning is the result of how we interpret and interact with our world. When work is meaningful, we strive to improve and engage more deeply with it. When we share meaning with a group or company, each is enhanced and grows. But make no mistake: meaning can’t be given; it can only be shared.

 

2. Make meaning the key to organizational excellence, and to personal excellence.

BE Aerospace won a contract to create a product with multiple iterations in a highly regulated environment. It hired a slew of top engineers in the UK, but the flow of engineers out the door was as steady as the flow coming in. It was killing the company’s ability to deliver. By interrogating and mining the meaning of the company, it became clear that the engineers who were leaving weren’t aligned with those who were staying, even though they thought they were. The message from management in the recruiting phase missed the essence of who they were. Those who left described the work as overwhelming, with impossible challenges and unsolvable problems. The ones who were engaged and loved what they did were fulfilled by the challenge. As one employee put it, “It’s like being dropped into the ocean with no beach in sight — so you start swimming and soon you learn it’s a damn fine beach when you get there.” Because traditional job descriptions and marketing messages dominated the employment conversation, everyone missed the conversation about what mattered most.

 

3. Recruit to meaning.

6 Helpful Insults to Hurl at Your Inner Perfectionist

fire
This is a guest post by Scott Mautz. Scott is CEO of Prof0und Performance, a workshop, coaching and online training company. I highly recommend his new book Find the Fire: Ignite Your Inspiration and Make Work Exciting Again. After I read it, I asked Scott if we could run this book excerpt. You’ll find the entire book full of excellent advice.

 

6 Helpful Insults

 

Nobody’s perfect, but some people try anyway. Perfection seems like a noble goal. Managers expect employees to pay attention to detail and perform at their best. Many spouses think their significant others could strive a little harder for perfection (My wife is the one exception.)
In reality, your inner perfectionist is sucking the life out of you and your relationships. You need to squash it to find contentment and inspiration for your work and your life.
So let’s hurl some insults at our inner perfectionists, shall we?

1. “I’m gonna slap the ‘should’ out of you.”

Seriously, strike the word should from your vocabulary. When perfectionists use the word, like in the sentences, “I should go over this again to make sure it’s 100 percent right,” “This should be a lot better than it is right now,” or “I should have done X and Y,” it’s like granting a license for perpetual revisiting and remorse. Stop. Will more massaging really change the outcome? Tell yourself done is done, dammit.

 

“Strike the word should from your vocabulary.” -Scott Mautz

 

2. “Your perfectionism isn’t just hurting you.”

The collateral damage of your perfectionism is everywhere—don’t underestimate it.

Perfectionists tend to judge and criticize not only themselves but everyone else. The more they see their own flaws in others, the more they pick, as a sort of displacement mechanism. The constant criticism and judging isolates and distances the perfectionist from others, further exacerbating their “I must not be good enough” belief. Perfectionists are often unaware of the impact this corrosive behavior has on others. They’re assuming that everyone else is harshly judging them, so to do so as well is just the way of the world.

Expand your worldview and understand that your misplaced heat, like that of global warming, is indeed affecting the world around you for the worse.

 

“Perfectionists are often unaware of the impact this corrosive behavior has on others.” -Scott Mautz

 

3. “Accept yourself before you wreck yourself!”  

Capitalize on the Gig Economy

Gig Economy

Introducing the New World of Work

 

Work is changing.

Technology continues to change everything, and work is no exception. In just a few years, we have seen companies emerge from Uber to Instacart. New digital platforms are emerging that explore different business models.

Marion McGovern founded M Squared Consulting and Collabrus. Her new book Thriving in the Gig Economy: How to Capitalize and Compete in the New World of Work, is a thoughtful exploration of the new world of work. Whether you’re looking to make some extra money or you’re in management, you will want to familiarize yourself with these trends.

 

“The best gig is the one you’ve got.” –Live Shreiber

 

Gig and the New Economy

What is the Gig Economy?

Before I answer that question, let’s clarify the meaning of the word “gig.”  The term was first used with jazz musicians in the 1920s, where they would book one club for a week and another for a few days in a different club across town. A gig referred to work that could vary in duration and was for a variety of employers.  So gigs have been around for a long time. I started my company, M Squared Consulting, in 1988 to match independent consultants with projects. It was a gig economy company long before the term had even been coined. The “Gig Economy” refers to the people who work independently for a variety of entities as well as the companies that enable that work, both the new digital talent platforms, as well as traditional intermediaries and staffing companies.  Additionally, you could include the vast eco system that has sprung up to support this work, including co-working space, productivity apps, collaboration tools, and financial service products targeted at the independent workforce.

 

Successful gig workers have grit, resilience and learn from mistakes.

 

A few years ago, you received two calls that got your attention in a new way. How did that alter your thinking?

Actually there were three random and unrelated calls from venture capitalists and private equity guys who wanted to talk to me about digital talent platforms. One idea was for a platform for professional moms who wanted to work flexibly after the kids were older. Another was to build a pool of on-demand oil field services workers in Western Africa, and the third was to create a product to hire recent college graduates into entry level management positions in a way that would require no human intervention.  All of the players were technologists who had never run a service business, let alone a people-intensive one.  Much of the magic was to be in the algorithms which would match talent and opportunity seamlessly and quickly.  Many of the fairly basic questions I asked—like who would hire the moms? Would they be employees or contractors? And how would the platform make money?—had not yet been answered.  I was struck by the disconnect of talent being the most important thing to the success of an organization, but nonetheless the goal was to eliminate humans in the process of securing that talent. It inspired me to take a much deeper dive into the burgeoning world of digital talent platforms.

 

How is the Gig Economy growing?