The New Social Economy: How Communities, Collaboration and Social Technologies Drive Innovation and High Performance
The shift to our new social world has brought about disruptive changes to the way we work, the way we live, and the way we govern. Our social connections and communities have given us newfound power, and the rules will never be the same again.
As a result of our uber-connectivity, we are fast-moving from the knowledge economy to a social economy. Here the line is blurred between the value of what we know and the value of who we know. Our social connections are fast becoming one of the most important aspects in determining success and growth within this new social environment.
Social Outlets are Defining the New Parameters for Doing Business
A Social Economy is where:
Power shifts from traditional institutions towards individuals and communities (e.g., Pinterest, Facebook, Instagram, Twitter, etc.)
Small start—ups now compete with enormous industry leaders (e.g., Fab.com, Internet banking)
Advertising is useless — consumers (the people) now have the branding power — Which do you trust — advertisements or 100 customer reviews?
Communication is no longer one to one — it’s the many to many (social group to social group). For example, YouTube, Ebay & Photobucket (groups of people posting and reviewing to groups of people watching/searching)
Corporate Hierarchies are flattening — titles are becoming antiquated
Learning is social, community oriented, self—driven, and a continuous journey. MOOC (Massive Open Online Courses) like Academic Earth (MIT, Columbia, Cornell, etc..), Khan Academy, etc.. are making us reevaluate expensive college degrees
Massive growth in part time/contingent workforce is trending over traditional full time positions — plus the rise of the virtual worker further distributes the workforce
Talent communities and networks proliferate and become a mighty tool for recruiting key talent
What Is Social Business?
Social Business is about being socially involved, more connected, and more human.
Values, attitude and culture are determined (and evangelized) by the group or community to influence other groups and communities.
Trust is the new currency — By being more authentic and empathetic, we increase trust with consumers, clients, peers as well as the workforce
Innovating Out Loud — Today’s Most Critical Factor to Success
This difference between innovating privately and innovating out loud is one of the most significant differentiators between successful innovators and those that fail. The new social economy largely explains the success of new venture accelerators, corporate new venture groups, and even academic researchers.
Those with the most robust, engaged, and diverse social networks win!
New Leadership Skills are Crucial to Succeed in Social Business
Whereas past leadership efforts have been all about the individual as a leader, it’s now about the collective efforts of a cross functional team. New skills are needed to thrive and process this environment, (trust, collaborative leadership, digitally savvy, globally aware). Learn the strategic development experiences that hone new leadership proficiencies to better connect managers to the workforce.
- The challenges managers face change rapidly, but the methods used to train them have stayed the same. New skills like more complex and adaptive thinking, driving collaboration, generating trust and transparency are not fostered in traditional training programs.
- The majority of managers are developed from on—the job experiences, training, and coaching/mentoring; while these are all still important, leaders are no longer developing fast enough or in the right ways to match the new environment.
- Leaders are now responsible for an entirely new workforce. A critical leadership component is a deep understanding of social platforms so as to provide guidance that drive collaboration, innovation, and direction to teams working across different time zones, different countries and in difference capacities.
- Leadership development has come to a point of being too individually focused and elitist. This is the old way. We are currently transitioning from traditional leadership, which resided in a single person or role, to new leadership that is a collective process that is spread throughout networks of people.
Learning Has Transformed into a Continuous and Social Medium
Learn about the newest delivery systems, learning communities, corporate universities, and the new focus on speed-to-market content, and the role of learning leaders as Solution Architects.
- Learning leaders must transition into a Solutions Architect, someone who designs innovative approaches for employees to access knowledge, when they need it, in relevant chunks, no matter where they are. They find ways to make information available in ways it’s never been accessed before.
- In a networked and distributed world, learning is continuous, social as well as community based. Learning communities, corporate universities, and online self—driven training are trending to be the new standards in corporate education.
- Time is money. People want knowledge fast. Companies want employees who are at peak performance faster than their competitors. Speed—to—market is critical to the success of any company, but speed—to—knowledge is the necessary first step. A new emphasis is place on how fast learning leaders can continually get relevant content developed and available to the learners.
- One of the greatest opportunities to improve talent development is in helping employees learn how to create internal and external coalitions for their creative ideas. Building political equity and market acceptance of an idea is not a skill explicitly taught in school, yet it is perhaps the most fundamental skill that will be required for organizations to succeed in the future.
Sample Track Sessions for Learning and Leadership Development
- Creating Communities of Learning that Fosters Engagement, Knowledge Transfer and Develops Fresh Business Opportunities
- The Future of Learning and Talent Development and the CLO as a Solutions Architect
- Content Chop Shop: The Down and Dirty of Getting Relevant Content Out Fast
- Collaborative Leadership: The New Standard for Leaders and a Critical Component to Organizational Growth and Sustainability
- Succession Planning in a Global and Distributed Environment
- Leaders Developing Leaders: Engaging Programs that Encourage Executive Mentorship
Workforce Planning — Talent Communities and Organizational Branding Drive Real Results in the Social Economy
Learn how about the challenges of on—demand employment, how to overcome the large talent gap, and how utilize the increase of part timers in WFP. We will also cover how WFP analytics and big data can help improve decision—making capabilities.
- More organizations are trying to go to on—demand employment, bringing people on when you need them — It's a strategy that saves money. The recession has helped organizations to maximize productivity at current low staff levels, which makes the decision to increase hiring more difficult to make.
- Skills and qualifications gap — it’s here and it’s real. Despite investment in higher education, there are significant gaps in skills in scientific, technical, engineering and math disciplines. An estimate 80% of the talent gap in organizations stem from a lack of appropriately qualified candidates. This makes proper distribution of people/skills even more imperative.
- Many organizations have experienced a dramatic increase in contracted labor use. The resulting workforce composition will have proportionally more complexity and require discrete management and planning to ensure the workforce plan is well aligned with the immediate and long—term objectives.
Sample Track Sessions for Workforce Planning
- Planning for Gaps in the Workforce and Available Talent
- Integrating Workforce Planning into the Business Planning Cycle
- Workforce Analytics: Leveraging the Full Potential and Flexibility of Workforce
- Expanding Contract and Contingent Talent to Balance the Workforce
- On Demand Workforce Planning — Strategy, Timing and Talent
Recruiting and Acquisition Lives in the Social Sphere
Learn how to develop talent communities to attract and keep key talent on—hold. Discover the newest strategies for finding niche and technical talent in active and passive candidates via social professional networks.
- A LinkedIn Study demonstrates that social professional networks or talent communities are the fastest—growing source of quality hires in the US. What is a talent network/community? An online community run by a specific organization to hold and pool key talent until the company is ready to offer them a position. Candidates can opt in themselves or the organization can bring them in as a member. They can also be networking groups focused on particular skills, industries, topic areas, etc.
- Surveys show the number of workers searching for jobs via mobile devices has skyrocketed from 2.3 million to 9.3 million in the last year. But only 20—30% of Fortune 500 companies currently offer mobile—friendly career sites and portals.
- There is a renewed focus on employment branding — organizations are taking a closer look at how they are represented as employers — from onboarding to doing good for the community — perception in everything. Arecent studyby CareerBuilder shows that about 75% of job seekers will accept a lower salary for a good brand.
Sample Track Sessions for Recruiting and Acquisition
- Talent Brand: Competitive Advantages and Threats
- Data: Metrics You can Use Tomorrow to Measure Recruiting Success
- Mobile Recruiting: Fishing in a Stocked Pond
- Developing Talent Communities and Infiltrating Communities of Practice to find and/or to keep key talent on hold
- Innovations and Roadblocks to Developing Agile Talent Acquisitions
Engagement Drives Everything! More Transparency, Trust and Employee Driven Development are the New Norms
Facilitating communication and communities for ties that bind. Learn how to drive retention, innovation and loyalty from a very diversified workforce (virtual, part—time, global, on—site). Discover how to leverage corporate branding and evangelists in the social community.
- Employer—employee relationships will become less standardized and more individualized. Recognition and reward systems help to support, encourage, and motivate the workforce.
- Employee—driven development is becoming the new normal. With a free and rich set of tools and learning opportunities for employees outside the organization, workers now have the ability to set their own course and pace of study — whether it happens through a tablet, smartphone or other electronic device. Rather than depending on the organization to define their path, many workers want to take their career development into their own hands.
- Focus on internal mobility. With pressures to fill key talent positions, there will be a greater focus on internal mobility and up skilling employees.
- Leaders and managers must generate trust and transparency to engage and retain the workforce. They must make the connection to the hearts and minds of employees.
- Leaders must find ways to engage the virtual workforce as well as the part—time employees as well.
Sample Track Sessions for Engagement
Engaging Front Line Managers to Drive Results in Organizational Performance and Productivity
Developing Communication that Motivates, Drives Trust, Loyalty and Transparency
Employee Driven development — Using Virtual Communities and Resources to Grow and Engage
Engaging the Virtual and Part-time Workforce — Driving Collaboration and Increased Customer Service
Fast Tracking Talent: Accessing the Express Lane with Internal Mobility
Tools Needed to Navigate a Social World
Big Data — HR needs to harness and analyze Big—Data for business performance results. With the right information, companies can quantify the impact HR has on business performance, forecast workforce demands near and long term, identify critical skills gaps, explore different scenarios, and develop people strategies to meet the needs of the company in a fast—changing global environment.
Integrated Social Media will result in better communication and collaboration. Software that embeds social media capabilities across daily processes, (as opposed to separate platforms), with internal and external colleagues is the optimal collaborative tool.
Virtual Collaborative Tools are transforming the workplace. Remote working arrangements will continue to proliferate expanding outside country boundaries forcing employers to be more innovative in how they use collaboration tools.
Mobile tools become even more prevalent from senior management through hourly workers. Anywhere, anytime access to information speeds up recruiting, boosts productivity, and increases efficiencies that benefit not just employees but suppliers and customers.
Reward and Recognition Programs — Online social recognition is becoming a mainstay for the engagement and retention for social and community members