Straight from Hollywood: The Project-Based Workforce

Straight from Hollywood: The Project-Based Workforce
Posted by Tammy Erickson on January 29, 2008 9:13 AM


A number of years ago, when my colleagues and I first began our research on how companies were preparing for the changing demographics of the workforce, we were amazed to find 85-year-old aerospace engineers successfully at work! From a company perspective, the reasons for this were straightforward -- the industry was then already faced with a severe talent shortage. But why were these folks happily devoting their golden retirement to work?

Today, it’s clear the answer to that question has two important components. First, lots of people are finding that they want to work “forever”-- that the benefits of intellectual stimulation, social interaction, physical activity, and, of course, supplemental income, are ones they value more than endless rounds of leisure activity.

Today, more than three-quarters of adults approaching retirement say they plan to continue working in some capacity.

But the second reason is important, too -- companies are beginning to offer a wider array of flexible arrangements that make it easier for individuals to create a life that includes both leisure and work. The aerospace engineers we met some six years ago were not working full time. They were working “cyclically” -- full time on for 3 or 4 months, then fully off for an equal or longer period of time.

Over the next several decades, as more sectors face the looming talent shortage, there will be a rapid increase in the number of people who work in cyclical or project-based arrangements -- many with no fixed affiliation to one corporation. It’s even possible that project-based work will become the norm in several decades -- with most workers operating as what some have called “intellectual mercenaries” assembled by project, as needed.

Consider the film industry. In the days of Marilyn Monroe and Humphrey Bogart, actors (as well as directors, camera men, and all others required to produce a moving picture) were employees of the studio. Today that is far from the case. Studios have become, in essence, financing and distribution vehicles for project-based endeavors, with the producer (also often independent) assembling a unique cast and crew for each film. It is likely that some form of this model will come to many of our industries over the next decade or two.

Already, nearly half of U.S. workers of all ages who plan to work during traditional retirement years say that they would prefer cyclical arrangements -- periods of full-time work interspersed with periods of no work. These focused periods of time allow individuals to work hard for a period of time (with one employer) then move on to another work period with a new employer, or to a period of leisure, learning, or other pursuits. Conventional part-time arrangements, working part of a day or part of a week, are popular, too – 39 percent like this idea – but less so than cyclic, which allows a different pattern of flexibility.

Both businesses and individuals need to learn to cycle. Organizations need to begin today to create cyclic job options. Individuals should get ready to work this way. Workforce Crisis, our 2006 book, is designed to help companies put this new approach, and other innovative ways of attracting and retaining talent, in place. My next book, Retire Retirement: Career Strategies for the Boomer Generation, is written for individuals -- to help those of you who are planning to make a transition from your “first career” to whatever this second work phase might hold.
How can you put yourself in a position to be a cyclic worker? There are important steps you can take today learn to cycle -- to prepare yourself to land your ideal “second career” situation after “retirement.” If you’re in or nearing retirement, jump on the bike.

• Build and refresh your network
• Clarify and renew your personal brand. Discuss the strongest attributes of your current reputation with a career counselor or trusted coach. Develop a strategy to evolve it toward your “second career” aspiration.
• Stay up to date on the latest thinking in your area of expertise.
• Renew any relevant certifications or licenses. One of the outcomes of increasing cyclic work will be the growing demand for certification, whether to establish cross-company norms or internally, as part of as process of validation for executive readiness. Consider working within your profession, industry, or skill base to establish cross-company certifications that will quickly and easily communicate to others your degree of proficiency in a given field.
• Create the context for discipline. Arrange a home office or other suitable work space. Identify options for appropriate professional support. Working cyclically, you have to manage, not just doing the work, but marketing and selling your skills, customer service, and all the invoicing and collection issues.
• Develop a disciplined schedule. The most difficult part of cyclic work is getting so immersed in one cycle, that you spend no time or thought on the next. Set aside time each day, or at least each week, or focus on “what’s next.”

And remember, “what’s next” for you is likely to be very different than the typical life 70 or 80-year-olds have led in the past. Those cycling aerospace engineers were having a great ride.

(From: http://discussionleader.hbsp.com/erickson/2008/01/draft_for_jan_30_learn_to_cycl.html?cm_mmc=npv-_-listserv-_-FEB_2008-_-finacctg)