Once again, Tom Peters provides inspiration for what we are trying to do at Synaptus. In his post yesterday Now Don’t You Worry Your Little Self…, he raises the alarm about 40 million jobs moving out of the US in the next 10 years.
40 million jobs, is that a lot? According to the Bureau of Labor Statistics there are about 150 million Americans in the work force. 40 million jobs moving overseas is over 25% of the jobs in the US. What could cause this to happen?
China has 798 million people in their labor force. India has 509 million workers available in their labor force. Their real wages are far below the US and Europoe. As education rises in these countries and communication technology improves, businesses will move work to where it can be performed well-enough at the best cost.
Stop and think about what this means. The way companies do work is going to change. We are just entering the knowledge-based, or project-based, or information-based world. My kids will be entering the job force as this world becomes predominant. It took 50-100 years to get really good at managing industrial based organizations. The businesses and individuals that figure out how to thrive in this new world of work are the ones that will survive and grow.
Aligning a dynamic organization with strategy, understanding and improving processes across your business (regardless of your organizations boundaries), productive collaboration, talent management, and project management become key skills to build and manage organizations that will thrive now and survive in future.
The ability to gain competive advantage from these shifts, both for you and your organization, is there today. On the other hand, 10 years is a long way away. You can wait for someone else to figure out how to run businesses profitably and manage the new workforce. I chose not to wait. What will you be doing in 10 years?