Colleen McDonald, Principal and Nithyia Vaduganathan, Managing Director and Partner at The Boston Consulting Group present BCG’s Tapping into Fluid Talent report on this Center for the Transformation of Work meeting.
As we all know the modern workplace is changing and company leaders need to tap into a variety of resources to get work done. This is what BCG calls “fluid talent.” Rather than just drawing from traditional sources, companies need to look to former employees and freelancers as well as talent that is hidden elsewhere in the company, borrowed from other companies, or working in other geographic markets. Join us Thursday to dive in!
NEXT CTW MEETING: Thursday, July 7, 12-1pm ET. To receive a calendar invite please register for a free CTW individual membership here.
Chat room transcript:
00:10:21 yoshiehattori: Hello all, Yoshie Hattori is Steven Forth! Using wife’s laptop.
00:10:57 Link: Dr Gordon! Good to see you!
00:11:39 Carin “Solid Talent” Knoop: https://www.bizjournals.com/bizjournals/news/2016/12/01/what-your-necktie-knot-says-about-you.html
00:16:55 Rochelle Haynes: crowdpotential.co.uk
00:17:03 Cynthia Hansen: www.innovationfoundation.net
00:17:25 Rochelle Haynes: https://www.linkedin.com/in/drrochellehaynes/
00:19:10 Carin “Solid Talent” Knoop: premature breaking up of breakouts
00:19:28 Laura Marella: Nice to meet everyone! Here from Overflow https://www.weareoverflow.com/
00:20:05 CTW: CTW Community Meeting – June 2, 2022: Orchestrating Workforce Ecosystems with MIT Sloan Management and Deloitte: https://transformationofwork.org/blog/ctw-community-meeting-june-2-2022-orchestrating-workforce-ecosystems-with-mit-sloan-management-and-deloitte
00:20:34 Paul Estes: The site for the new venture is finally live, check it out – https://www.xpertlink.ai/
00:20:40 Colleen McDonald: Kathryn what is your geographic scope?
00:21:07 Jeffrey Moss: Great to see you again Kathryn – has been way too long!
00:21:40 Kathryn Minshew: TheMuse.com if you want to check it out 🙏
00:22:24 Kathryn Minshew: Hey there Jeffrey! it has been
00:23:46 Dyan Finkhousen: Hey who are those two swanky dudes over in London? 🙂
00:24:40 CTW: CTW Community Meeting – May 19, 2022: UST’s Open Talent Initiative: https://transformationofwork.org/blog/ctw-community-call-usts-open-talent-initiative
00:24:56 CTW: GOOD LUCK UST!!
00:25:00 Robert Jackson: Robert Jackson – https://www.linkedin.com/in/robert-w-jackson/ Robert@dorseyasset.com
00:25:23 Ilyse Shuster-Frohman: Hi all!
00:25:54 David Messinger: Congrats @Paul!
00:25:54 CTW: Paul Estes: https://www.linkedin.com/in/paulfestes/
00:25:55 Jeffrey Moss: Congrats @Paul!
00:26:05 Dyan Finkhousen: Woot woot Paul!
00:26:08 Lance Martin: Great to meet everyone. https://www.linkedin.com/in/lancemmartin/
00:26:10 Alejandro – KellyOCG: Hello Everyone…Alejandro Builes. I lead the Services Procurement Product for KellyOCG. First time on this call, pleasure to meet you all.
00:26:31 Jeanene Kroetch: Jeanene Kroetch @Overflow PBC https://www.linkedin.com/in/jeanenekroetch/
00:27:00 Rochelle Haynes: Thanks! So nice to meet everyone!
00:27:03 Pablo López: Pablo López @WOKI https://www.linkedin.com/in/pablo-lopez-guitian-4a6079149/
00:27:08 CTW: David Swift: https://www.linkedin.com/in/david-swift-7409641/
00:27:37 Paul Estes: Here is the weekly gig newsletter – https://www.linkedin.com/pulse/remote-work-reserch-mixed-gamification-gig-economy-end-paul-estes/
00:27:39 Siddharth Birla: Siddharth Birla
00:28:01 yoshiehattori: Steven Forth https://www.linkedin.com/in/stevenforth/
00:28:55 Paul Estes: Steve’s blue shirts = Zuckerberg’s hoodies 🙂
00:29:22 yoshiehattori: Among other things, I manage the design thinking group on LinkedIn, where many people work in the open talent economy https://www.linkedin.com/groups/37821/
00:29:40 CTW: Steve Rader: https://www.linkedin.com/in/steve-rader-92b7754/
00:30:32 Jeffrey Moss: https://www.parkerdewey.com/blog/life-changing-study-break
00:31:19 CTW: John Healy: https://transformationofwork.org/board
00:31:34 CTW: LISH: https://lish.harvard.edu/
00:34:01 CTW: Tapping into Fluid Talent: https://www.bcg.com/publications/2022/tapping-into-fluid-talent
00:42:41 Jeffrey Moss: Where does the concept of using gigs as a proactive way to engage and assess candidates for full-time roles fit into your research?
00:42:55 yoshiehattori: Teams are important to the future of work, and we need to provide better support for the team economy!
00:44:28 Jeanene Kroetch: Overflow would like to invite all of you to a discussion with Jon Younger (for those that don’t know him—global expert on the future of work, open talent platforms and freelancing. Next Thursday, June 23, 12 noon EST.
Register on EventBrite.
00:45:00 CTW: Jeff Schwartz: https://www.linkedin.com/in/jeff-schwartz-deloitte-consulting-us/
00:46:04 Steve Rader: I find this to be a super interesting chart!
00:46:45 CTW: Bryan Pena: https://www.linkedin.com/in/bryanpena/
00:47:22 Jeffrey Moss: Seems like one of the challenges is misperceptions by HR. Busy professionals have projects that are great for freelancers outside the org, but HR doesn’t feel that pain so isn’t incented to solve it (or realize how it helps them).
00:48:42 DSWIFT1: The HR function is stuck in the 20th century.
00:49:39 Bryan Pena: I’m fascinated by how technology can expand opportunity for those who have been excluded.
00:49:49 Steve Rader: @Bryan +1
00:49:57 CTW: Nithya Vaduganathan: https://www.bcg.com/about/people/experts/vaduganathan-nithya
00:51:31 David Alberts: is anybody in Cannes Lions festival next week and interested in meeting up
00:51:57 Kathryn Minshew: I’m thinking about it David but haven’t made a call
00:52:11 Steve Rader: Enel is doing some amazing open innovation work (and has been for a long time)
00:53:10 CTW: Enel + Wazoku: https://www.yahoo.com/now/enel-launches-crowdsourcing-campaigns-unearth-145500471.html
00:53:44 Jeffrey Moss: Question: all of these are around using freelancing to address immediate, tactical pains with on-demand labor. Where does the use of freelancing as a path to finding the right full-time hires fit in?
00:54:40 DSWIFT1: It’s a great way of test driving talent. I am currently hiring some of freelancers
00:54:58 Jeffrey Moss: This is what Parker Dewey does for the college students / recent grads
00:55:05 Jeffrey Moss: (And no referral fee)
00:55:29 Jeanene Kroetch: And there are a significant number of freelancers are not interested in becoming full-time–they like the freedom!
00:55:51 DSWIFT1: And the great day rate!
00:56:51 Steve Rader: Has anyone studies positive or negative impacts on companies where their employees are active in gig work (in addition to their full time job)?
00:57:08 Steve Rader: *studied
00:57:35 Pablo López: In Spain (where I am based) there is the belief that freelancers have no other job options rather than to be freelancers because nobody hired them, well this is not the case!
00:58:43 Paul Estes: the change is managing work and not people
00:59:00 Dyan Finkhousen: and outcomes
00:59:18 Steve Rader: This is really great information, thank you Colleen!!!
00:59:22 Paul Estes: ditto
00:59:33 Steve Rader: Taskify
00:59:42 Steve Rader: (that was for Paul)
00:59:56 Dyan Finkhousen: nod to the Gig Mindset!
01:00:01 Pablo López: Actually last week, the 6 biggest platforms in Spain got together along Jon Younger to do for the first time a Freelance summit in the country, here is more info! https://www.linkedin.com/showcase/talent-revolution-spain/
01:00:05 Colleen McDonald: + 1! Breaking into components (for a project, or a job, etc.)
01:00:06 Jeff Schwartz: Yes. This is great research and stretches our thinking, which is timely.. Thank you to the team at bcg
01:00:44 Paul Estes: They do not want to be held “captive” where sidehustle still = moonlighting.
01:00:56 ashleyryall: The “freelancers” who work for me have full time jobs as well.
01:01:35 David Alberts: has there been a change in the compliance perception from big companies .. any research our suggestions to overcome this hurdle
01:02:07 Jeffrey Moss: Great question @Steve. We don’t have data for existing employees, but for college students doing professional gig work have higher rate of college completion, full-time employment upon grad (>96%), salary, etc.
01:02:32 Dyan Finkhousen: Those are interesting insights @Jeff
01:02:50 Colleen McDonald: I wonder if the way companies use fluid talent also plays in. Anecdotally bringing in experts for advisory in mixed teams tends to be well received, help upskill. Where there is more discrete/outsourced short term tasks I see less of it.
01:02:54 Steve Rader: Thanks @Jeff
01:03:38 Link: In celebration of LGBTQ+ Pride Month, The CTW Advocacy Community is hosting a conversation on Tuesday 6/21 on how we support LGBTQ+ in the future of work when LGBTQ+ language and identities are not all the same universally. Link for the Advocacy conversation: https://transformationofwork.org/blog/ctw-advocacy-community-meeting-inclusion-beyond-the-rainbow-in-the-future-of-work-space
01:04:36 Link: If you would like to know more about the CTW Advocacy Community, please don’t hesitate to reach out https://www.linkedin.com/in/linkdreams/
01:04:46 Jeff Schwartz: @colleen and @nithya What’s your sense on how quickly we will see broader adoption of a robust portfolio of fluid talent? It sounds like you see us in the discovery/ experimental phase? What’s next?
01:04:57 Colleen McDonald: Building the On Demand Workforce: https://www.hbs.edu/managing-the-future-of-work/Documents/Building_The_On-Demand_Workforce.pdf
01:05:33 Colleen McDonald: Rethinking the On Demand Workforce: https://hbr.org/2020/11/rethinking-the-on-demand-workforce
01:05:54 Steve Rader: @Akhil +1
01:06:17 Jeffrey Moss: 100% agree re compliance, etc. That said, have seen companies like Northrop Grumman get through this without a heavy lift. All comes down to the scope of the project / work
01:06:38 Steve Rader: Which given reputation systems that many freelancers use, they seem to have more incentive (than full time employees) to be true to NDAs and protect IP.
01:07:56 Paul Estes: many freelancers can not get credentialed accesses to internal systems as they are not designated for lower level access provisioning. With PII and GDPR this is a real issue.
01:07:56 Steve Rader: This was a really great session! I’ve missed this group while I’ve been traveling… love the conversation!!!
01:07:59 CTW: Thanks you to Colleen and Nithya for taking time out of your busy schedules to join us today!
01:08:07 Nithya Vaduganathan: Thanks so much for having us!!
01:08:12 Colleen McDonald: Thank you all!
01:08:13 Jeff Schwartz: Big thanks!
01:08:22 Jeanene Kroetch: Great information—thank you!
01:08:22 Lance Martin: Thanks Collen and Nithya. Great info.
01:08:31 CTW: Good luck at the awards Akhil 🤞
01:08:40 Dyan Finkhousen: So incredible – thanks everyone!
01:08:41 Bryan Pena: good luck!