With the current retirement age in most companies and countries leaving workers several decades to continue working, the rise of semi-private networks is helping to organise people and companies to create new value.
Author and idea maven, Seth Godin, anticipates, “These entities will become ever more powerful as the economies of the firm begin to fade, replaced by the speed and resiliency of trusted groups.”
For seasoned workers, these ‘guilds’ can be as simple as a network of people with similar interests sharing ideas and projects to groups certified at advanced levels. Future Work Forum is a global think tank with bi-monthly calls to share members’ expertise and collaborate for maximum impact.
Critical Eye, in Asia and Europe, is a peer-to-peer board community for information and ideas. Mercer has been evaluating retired employees as a network of potential subcontractors that might take on extra work from time to time, already trained in the style, standards and values of the firm. The opportunity for firms to tap into this kind of senior expertise, once only accessible via personal networks, is now easier than ever.
With widespread disruptions due to the COVID-19 pandemic requiring companies to rethink HR policies, now is the time to rethink standards, policies, and practices to support a well-functioning multigenerational workforce.
The opportunity is manifold: retain market-valued intellectual capital, raise the stability and engagement of highly skilled employees and deliver products and services designed by a representative workforce stand to benefit.
Companies without strategies to integrate this shift in demographics into their workforce planning will miss out as their competitors move ahead.