Future of Work – Croixstone

Martha Stewart and Leonardo da Vinci? They have more in common than you know.

Leonardo da Vinci.
Andy Warhol.
Walt Disney.
Martha Stewart.
Dwayne “The Rock” Johnson.

Two weeks ago, our Managing Partner and co-founder Mark Weber returned for a command performance to LOOM Coworking, Gallery and Event Space in Fort Mill, SC to share insights on the common thread that ties these five, highly accomplished professionals together.

The common thread?

Each of these famous people built a “portfolio career”, a style of working where a professional combines multiple streams of income to earn a robust living. Think of a portfolio career like an investment portfolio whereby you derive income from multiple streams that you professionally manage with a high degree of care, strategy and intentionality.

Portfolio careers are booming. In a recent article published by Ben Legg, the former COO of Google Europe, it was noted by the Organisation for Economic Co-operation and Development (based in Paris) in its Future of Work study that an estimated 50% of developed country workforces would be gig workers by 2030. Similarly, Ladders published a story that featured a forecast from Statista, the market research firm, that freelancers will make up more than 50% of the USA’s workforce by 2027.

So why are portfolio careers growing?

For starters, more and more professionals are realizing that they have the right and power to veer from the traditional career script. Many of the most skilled and intelligent workers crave both variety and challenge in their careers, and they find it fulfilling to meet their needs outside the traditional career path.

For these professionals, there is often a greater sense of purpose, clarity, and flexibility that accompanies the building of a portfolio career.

Respected thought leaders including Harvard Business Review and Forbes are publishing a growing body of articles and videos that are providing legitimacy to those attracted to the concept of a portfolio career. Additionally, a growing number of employers, including Croixstone Consulting, are intentionally building and diversifying their workforces by designing and implementing talent strategies focused on portfolio professionals.

Visit Croixstone Consulting’s Linktree to find a variety of links to learn more about the benefits and rewards of building a portfolio career.

Career Tips + Strategies for Experienced Professionals

More than 500,000 people in North Carolina have filed for unemployment in the weeks since businesses starting closing down due to the pandemic. This equates to 10% of North Carolina’s workforce. And the picture is certainly challenging in South Carolina, too. Last week, WalletHub released a study that compared unemployment claim increases in USA states for the week of March 30, 2019 to the same week in 2020. North Carolina’s unemployment claims rose 4282.7% year-over-year (7th highest in the nation), while South Carolina’s claims rose 3931.2% (33rd highest in the nation).

With the rise in unemployment, we have curated links that have relevance to professionals – especially those who are experienced in their career paths.

It might be time to think about a career change.
Times of crisis can fuel pivots in your career path. This article provides terrific insights and is aimed at professionals in the 50+ age range.
C lick here.

LinkedIn has free resources to help with job search strategies.
11 free courses to help you build a job search strategy, lean on your professional network, and improve your interviewing skills.
Click here.

Why losing a job deserves its own grieving process.
The loss of a job triggers grief. Understand the grieving process and use these 3 tips to get into a productive mindset.
Click here.

How to prepare for the future of work in uncertain times.
Some great career tips from Forbes on how to use the disruption created by the pandemic to take control and future-proof yourself.
Click here.

How to train your mind for high-pressure situations.
Tips from an Olympic Coach to help you excel during interviews, negotiations, etc.
Click here.

Farewell Linear Career Path.

The days of the structured career path are long gone.
While the route to a long-term career has been irrevocably changed, many professionals are still working to catch-up.
How does one define career in 2020?

Hello Flexible Career.

The myriad of forces that are driving the future of work
require that we build career momentum
and measure career
success in new ways.
Career progression isn’t about moving down the road.
It is all about transformation.

Learn more here.

Know Globots + Telemigrants

The future of work is bringing new language to us. We all know that artificial intelligence is bringing about seismic changes to the workforce. But “globots” and “telemigrants” are predicted to cause major upheaval as well. Learn more.

The Future Is Calling. Are You Listening?

“The future whispers to us in faint signals rather than full sentences.” We love this quote from a new strategy article written by Paul Schoemaker for Inc. magazine. The future is calling you every day. Learn how to listen & be prepared.

5 Ways Work Will Change in the Future

At least 30% of the activities associated with the majority of occupations in the United States (including knowledge workers) could be automated according to a McKinsey Global Institute Report. Even though we can’t predict all the changes that will occur in the future, we do know there are things you can do to be prepared. Read 5 ways work will change in the future via Forbes.

A Virtual View of the Skills Gap Dilemma

According to the just-released 2018 Employer Needs Survey, 50 percent of North Carolina businesses report hiring difficulties and 60 percent of NC STEM-related and manufacturing companies experience the same. A recent Deloitte study estimates 2.4 million positions may go unfilled over the next decade.

Immersive technologies, such as virtual reality (VR), augmented reality (AR) or mixed reality (MR) [collectively called XR], are being used to address the skills gap behind those numbers. Charlotte-based Lowe’s finds VR particularly useful for simulating the numerous home environments a sales or service representative may encounter. Global shipping giant DHL Supply Chain reports an average 15 percent or greater improvement in productivity in its warehouses utilizing AR glasses, while also reducing onboarding and training time by 50 percent.

What does this mean for employee training? Read more on: A Virtual View of the Skills Gap Dilemma.

About Our Guest Writer

Lorraine Russell is President/CEO of Room to Focus. The firm provides the tools and content to help companies increase training retention, attract digital natives, and reduce time spent onboarding and facilitating routine training.

2018 U.S. Emerging Jobs Report

Each year LinkedIn analyzes data from the previous five years to identify emerging jobs and the skills associated with them. Some of the biggest takeaways in the recently released LinkedIn 2018 U.S. Emerging Jobs Report are as follows:

AI is here to stay (6 out of the 15 emerging jobs are related to AI in some way).
Basic business operational functions are on an upsurge.
Soft skills – oral communication, leadership and time management – account for the largest skills gap.

Read the full report to learn more about the top 15 emerging jobs, those jobs with the largest hiring growth and the skills with the biggest skill gaps.

What’s the Future of Management Consulting?

Recently, Croixstone Consulting participated in a thought-provoking webinar about the state of the management consulting industry. Hosted by ALM Intelligence, the webinar provided insights into the future of the industry and featured proprietary research and analysis from ALM’s team of analysts. View the webinar (it is an hour-long) to learn answers to the following questions:

What is the size and growth rates for consulting globally and by region?
What’s the future of consulting?
What will the profession look like in the next decade?
How are client expectations changing the game?
What will a successful firm look like in 2020?

Businesses are Moving Toward Being Technology Companies

Our Managing Partner, Mark Weber, kick-started last week with a conference call with the CEO of one of our clients. The conversation focused on the topic of talent development (the #1 concern of mid-market CEOs who attended last month’s sixth annual mid-market CEO convention at the Wharton School at the University of Pennsylvania). During the call, the CEO stated that in today’s world, ALL companies are tech companies. Many organizations don’t understand this concept and continue to see technology as a separate entity from the rest of their businesses. Greg Williams, the Deputy Editor of WIRED Magazine, recently published a blog post on the 5 reasons why businesses are moving toward being technology companies. Read it here.

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