Tags: Future of work

Is the future big or small?

Posted by mattpoy on Posted in Future of Technology, Future of Work, Marketing Tagged , , ,

FreelancersWe have just returned from a couple of weeks driving along the Californian coastline, one of my favourite holiday spots, where I noticed a change.

When I first started visiting America I remember marvelling at some of the larger department stores such as Bloomingdales, Macy’s and Nordstrom. Today, these stores look like they are stuck in time, and that is if they are there at all. I sensed more boutique businesses, smaller operators and niche products which are of course supported by mammoth online platforms like Amazon that encourage them to thrive.

How much is technology responsible for this and have the large retailers missed the trend change, or have they been hamstrung by huge properties in malls and cannot move fast enough? Online shopping and service has certainly dented any rosy future for them in their current form.

As consumers we are happy to pay for convenience as ordering online has become slicker and quicker and where product choice is unparalleled. Equally no consumer can tell how large or small an online player really is; plus, who cares as long as the product is genuine and delivered on time to our doorstep.

Combine this with the fact that 20% of people have sold something online in the past year (Pew Research), the reduction in free time most people complain of, and the increase in freelance and contract work, and it all points to a new way of living and shopping which we have taken in our stride. It is likely to gather pace, never to return.

Part of me was saddened to see the old stalwarts fading or missing, but it reminded me that we are on a treadmill of tech-led change, and if we stand still we invariably go backwards.

OODA

Posted by mattpoy on Posted in Big Data, Customer Service, Future of Technology, Future of Work, Marketing, Technology Tagged , ,

ZaraOODA stands for Observation, Orientation, Decision and Action.

It is a decision making model that was created by a military strategist called John Boyd, where information is sent back from the field to the decision maker to construct and modify a new theory of attack. It is especially important when you don’t know how the opposition will respond to your first wave.

Boyd said the key wasn’t about the great plan of attack, but how you learn and evolve quickly – the speed with which your strategy could adapt.

I have referenced global retailer Zara before and they have grown to become one of the largest fashion retailers in the world. At the heart of their success is their ability to manufacture and respond to the latest fashions, having product on hangers within weeks.

The vital ingredient and differentiator is how we deal with information: how we digest and put data to use, adapt to changing market and competitive demands and make technology work for us to lead our customers to change.

Like the best military pilots, sportsmen or business leaders, it is about the gift of perception and reaction, to learn to manoeuvre midstream.

Thank you to Derek Thompson, author of the great little book Hit Makers, who introduced me to OODA.

Silver is worth more than gold

Posted by mattpoy on Posted in Future of Work, People, People Skills Talent, Skills, Talent Tagged , , ,

I read a series of articles and opinion pieces about developing young leaders and the importance of doing so in light of the retirement statistics of Baby Boomers.

According to Harvard Business Review, 10,000 Boomers will retire every day over the next decade. This is great for young people, who will have the opportunity, and have to be ready, to assume some of the roles made vacant; plus in many cases they will be fast-tracked by their companies into these positions to address skills gaps.

So with that companies are targeting millennials with the majority of their advertising, after all by 2030 the millennials will make up almost 3 out of 4 members of the workforce.

But pause for thought – are we ignoring some people? We know that the silver surfers have all the money and they know how to spend it (largely on leisure). In addition, as Tom Peters tells us in his inspiring way, women make most of the key decisions, so why does advertising continue to ignore them? I think we may be missing a trick here and not just for allocation of advertising spend. Sure millennials will be an important audience in 10 years, but why wait? Target the most important groups today, because they are ready to spend.

It seems to me the silvers are worth more than gold futures, at least for now.

One size fits One

Posted by mattpoy on Posted in Future of Technology, Future of Work, Marketing, People, Social Media Tagged , , , ,

bootsOne of the most exciting opportunities that technology brings to the table for businesses of every size is the utilisation of data to tailor their offering to each individual customer.

Although we are told that 95% of business data in the UK still remains untapped (Forrster Research), the opportunity to serve each individual’s needs and offer a truly bespoke service is mouth-watering at the prospect. This isn’t Harvey Specter and made-to-measure suits (for fans of the brilliant legal drama Suits), but more about understanding preferences, buying-patterns and data in the aggregate to shape future sales.

I have talked before about the correlation that WalMart made in the US between thunderstorms with sales of torches and pop-tarts! No in-store manager could ever have worked out the link, but the data made it sound obvious.

For those of us in a B2B environment, the dynamic is somewhat different, but we have an additional layer to use to our advantage. We don’t need to make over-the-top sales presentations to our prospects; customers tend to know who we are, they do their own research and they can find pretty much anything they want online. Plus in many cases today they reject sales people outright.

You can tell your story online – your website, blog, videos and customer case studies all wrapped up in your social presence will do as much talking as any salesperson. But augment this by building relationships at a human level, person to person, team to team over time, patiently and with integrity, and you have a formula that is very hard to beat.

One size fits one: the one thing technology can support every business with.

True Grit

Posted by mattpoy on Posted in Future of Work, People, People Skills Talent, Skills Tagged , , , , ,

JohnWayneI spent today at a client, talking futures and opportunities: smart people, open discussion, transparency; the most productive forum for communication.

As I travelled back (reading The Culture Code by Daniel Coyle and doing 3 things at once), I remembered something about people making connections and it is worth a note.

Many commentators talk about the human side being just as important, if not more so, than skills or IQ these days. Recruiters look for accomplishments outside the norm, such as inventions, entrepreneurial achievements and especially how an individual has come from or dealt with difficult circumstances.

With soft skills carrying more weight in hiring decisions, those that can show courage, perseverance, resilience as well as an openness and willingness to learn, will win the day in future. This is defined as grit, and some even pattern-match to find people that have these gritty characteristics. It’s part of our evolution and only today we talked about traditional education transforming in response to digital technology and culture – industries will move ahead without us if we don’t change.

One final consideration – no mention of the word “technology” in grit. We are in the people business. We always will be.

(Image to the right: the legendary John Wayne from the Western ‘True Grit’, 1969).

Speed up or slow down?

Posted by mattpoy on Posted in Future of Work, Ideas, Skills Tagged , ,

Dubai workshopI spent a great week in the Middle East last week where we hosted a skills workshop for clients and guests – with the topics productivity, talent and technology high on the agenda.

As always, following the media and talking to locals I picked up some interesting stories, no least from an article describing the ability to “zip through the airport in 10 seconds” on its way to the region. This is great news, especially as most people have a story to tell about crowds, delays and hours standing at baggage carousels scrolling through emails on their phone waiting for their bag. But is it really that good for us?

I welcome technology making our lives easier, speeding up processes and helping avoid queues, everything faster and shorter, but does it genuinely save us time or encourage us to try and fit more in. We seem to have fallen into the habit of squeezing more into less time, allowing ourselves no time to think and more items to have to juggle and worry about.

Should we be cramming more activities into less time, or should we be doing less in order to think it through and do a better job of the task?

Does technology ultimately buy us more time, or just more pressure?

The answer is in the room

Posted by mattpoy on Posted in Future of Work, Ideas, People Tagged , ,

Most people think that to generate and brainstorm the next big idea has to involve far-reaching experts nobody has ever met, when in fact, regardless of age or generation, the answer to our needs is normally in the room – all we have to do is find the most effective way to facilitate the discussion and identify it.

Plus you don’t need a focus group; the world talking and debating online every day, customers talking about your company and product and service, is the biggest focus group you will ever need.

What is your moat?

Posted by mattpoy on Posted in Future of Technology, Future of Work, Ideas Tagged , ,

moatI read an insightful interview with an executive from a major player in hotels where he discussed the future of the industry and his organisation’s “moat.”

When you think about a moat, you immediately see protection and defence, and with so much change happening around us, and accelerating in many ways, we all need to consider what it is that differentiates, but also protects, our company and service, to such a degree that we can actually visualise our place in the market for years ahead?

Today, most companies can’t.

 

You may hate gravity, but gravity doesn’t care

Posted by mattpoy on Posted in Big Data, Future of Technology, Future of Work, Marketing, Technology Tagged , ,

Let’s open with a great quote from Harvard Business School Professor Clayton Christensen:

“You may hate gravity, but gravity doesn’t care. Substitute gravity with cloud computing, big data, mobility, or social.”

However you challenge and dispute it, technology-led change is happening all around us. I recognise how hard it is to adjust decades-old practices and how different these may be compared to traditional methods of marketing and communication, but it isn’t about to slow down or go back to how it used to be. The transformation is ongoing, it will lead us down its own path, and like many the job roles in future, we are not quite sure where it will end up, because a lot of it has yet to be invented.

But we must take note, and here is a quick story to make the point:

A Chinese consumer spends millions each year in Beijing and is recognised across the city for her taste in luxury goods, lifestyle and events. She flies to Europe on business, takes her morning exercise and whilst in her running gear, pops into a designer store (of which she is a top 5 customer back in Beijing). She is ignored because she is not recognised and she leaves, unhappy. This is not acceptable. Because of the customer service expectation that the likes of Amazon, Netflix and others have bestowed on us, we expect the shopping experience to be highly personalised.

Data is the new currency. People will gladly share their data but in exchange they want value (however your product or service might define it). You have to recognise every customer, regardless of where they are and when they move across the world, and provide them a unique experience utilising the new technology.

Think of the impact if you don’t.

Humans turning robotic – robots becoming human

Posted by mattpoy on Posted in CompTIA, Future of Technology, Future of Work, People Skills Talent, Skills, Technology Tagged , , , ,

I enjoyed being part of an engaging panel session at the CompTIA Annual Member & Partner Conference in London where we talked about skills and employability, and how employers continue to struggle to find the people to meet their needs.

Well how about the baby boomers (born 1946-1964) and Generation X (born 1965-1976)? We have the time, wherewithal and the experience, and more often than not the resilience to compete. That determination is manifesting itself by standing our ground – we won’t give in easily, to age or to retirement plus we can handle the demands placed on us.

I suppose technology isn’t helping us, but is it really tech’s fault? Haven’t we brought this on ourselves? Are we just obsessed with being online and staying connected for more and more hours throughout the day, waking at 4am for a sneak peek at email and responding to the last of the day’s messages with drooping eyelids 20 hours later? Moreover, if you are in a business that covers all time-zones of the world, does it ever stop?

We need to remind ourselves what humans are good at and take a good look at the work and roles that machines cannot do as well as humans in future. We need to reassert and take control, yet isn’t it ironic that we have become robotic in automating our lives, at precisely the time that robots endeavour to become more human.