Sometimes, you really need a crystal ball. Looking ahead, thinking about the future, predicting markets and consumer preferences, they’re all important aspects of business.
You also know that you need to embrace change, difficult as it is. In “Rethinking Work” by Rishad Tobaccowala, that acceptance starts at the workplace, no matter where that workspace is.
Hard to believe it was five years ago that the world halted because of COVID-19. Few could imagine the impacts it would have on industry, commerce, trade or on work itself. Changes during the pandemic left us with “Five interlocking forces… sculpting the future of work,” Tobaccowala says. They include differences between generations, modern technology, “new ways of working” and the aftereffects of COVID.
First, the “gig economy” is growing. Two years from now, Tobaccowala says, roughly half the U.S. workforce “will be freelancers.” He calls those workers “fractionalized” employees, and five years ago the vast majority of them enthusiastically embraced working from home – a work style that millennials and Gen Z particularly appreciated – although “disengagement” can be a problem for those younger workers today.
Regarding technology, Tobaccowala notes tech is both good and bad. Business owners must remember that success is not through technology but through the “talent” that best uses it. Also remember that one of the better aspects of new technology is the opportunity to reinvent things.
There are many new ways to leverage new marketing, and much of it uses methods you already likely understand. Flexibility will be key for the retention of tomorrow’s employees, and that might include allowing them the freedom to work side gigs while working for you, too.
Think of diversity as a way to utilize the best talent and gain over your competition. Be open to new skills for everyone at your workplace. And finally, Tobaccowala says, remember you can feel nostalgic about the way things were five, 10, 20 years ago, but know there’s really no going back.
Page through “Rethinking Work” a minute and you might feel overwhelmed. There’s a lot inside these covers, and you’ll spot things that are repetitious or commonsensical. Some you already know, and some of it presents a new way of thinking. The pleasant surprise is that the former two work to bolster the latter in this book.
Tobaccowala helps readers see past the clutter and politics of modern business to understand that change, if embraced properly, can make employees happier and boost retention.
At first, Tobaccowala’s ideas and recommendations may seem counterintuitive but careful reasoning accompanies each point. The chapters here are full of numbered lists to help break down each statement and there are plenty of real-life cases and touchstones to draw in even the busiest of businesspeople.
This is the kind of book that won’t allow swiftness in reading; you’ll want to take your time with “Rethinking Work” so that you can absorb everything that’s in it. Grab it soon and you’ll see that the need to look ahead is crystal-clear.
Terri Schlichenmeyer’s reviews of business books are read in more than 260 publications in the U.S. and Canada.