Month: November 2015
Imagine you were looking forward to working into your 80s. What sort of working life would you want?
My guess is few of us would want a life of relentless 9 to 5 or more likely 8 to 6 with a couple of weeks off for holidays. We know implicitly that this is a regime that would see our intangible assets denuded. How would we keep abreast of rapidly changing skills with such little time to step out and learn? How could we keep our health and vitality at its peak with such little time for rejuvenation? Indeed, how could we find enough time with friends and family?
Perhaps that’s why the gig economy is seen as such a promising development. Imagine selling your resources – house, car, skills, or time in a seamless easy way. Imaging having the ability to step off the corporate ladder and change the way you work at anytime, providing a window of different and more flexible work. The benefits certainly look appealing. But of course, the gig economy also comes with its challenges. Our society is still not quite set up to support people who do not have a steady income stream and permanent contract. Try, for example, applying for a mortgage without proof of future income. Or saving for a pension with an irregular cash flow and no employer contribution. These drawbacks mean that few people see the gig economy as their main work activity or as a long term choice – but view it instead as part of a wider portfolio.
For those who plan to build this kind of portfolio in future, and benefit from the real value of the gig economy, they will need to take four important actions:
– work on transitional competencies. Moving from one type of work to another is not straightforward as it often means redesigning broader lifestyle choices and habits. These transitional competencies are developed through building a broad and diverse network – somewhere within that network will be people who have made the transition. Being surrounded by people who are similar to you will simply hold you back from changing. If you want to be part of the gig economy find others who are already there.
– build synergies between types of work. One of the joys of a portfolio life is variety – but this variety can come at a cost. When work activities are very different from each other then there is a ‘switching cost’ and cognitive abilities and working style have to switch between tasks. The more similar the task the less the switching cost. So try to build different job tasks from a platform of similar skills and competencies
– don’t build up tangible asset dependency. Working in the gig economy can bring variety, space and autonomy – but oftentimes people shy away from doing this type of work because they and their family have become addicted to a certain flow of money – holidays, cars, and general consumption. If you want to bring flexibility into your working life you have to ensure that you don’t develop spending habits at the top of your earning cycle. You must also be clear about what is essential for maintaining the standard of living you and your family need, and ensure that you are developing skills in lucrative fields that will deliver the commensurate income.
– realise you can’t have it all. There is much talk today that people (specifically mothers) can’t have it all – a family, big job, happy partner. Perhaps the same is true for putting together a portfolio of work. Most highly paid jobs come with 24/7 availability and pressured work. Gig economy jobs tend to have more autonomy and freedom. That’s why they tend not to be paid so well.
The gig economy has real promise to bring options to a working life. The question now is, are you ready?
This week, Republican candidate Paul Ryan was confirmed as the new Speaker of the US House of Representatives. However, his acceptance of the post was on the condition that he would travel less than previous speakers in order to preserve valuable time with his family. Of course this type of demand from such a high-profile man garnered a lot of press attention, as notions of family time and flexible working remain rooted in the ‘working mum’ domain in many countries, industries and companies. It’s still (sadly) rare to hear as may working dads negotiating school drop offs with busy work schedules, as working mums. So, will Mr. Ryan’s bold statement be a catalyst for change?
My work at the Future of Work Research Consortium highlights time and again the importance of role models when it comes to shifting an organisation’s culture. No matter how many policies and practices HR may devise around flexible working and work/life balance, if those at the top aren’t using them, then those attempting to climb the ladder will take this as a signal that they shouldn’t either. Having leaders simply avail of flexible working options isn’t enough either. They need to use the options in a way that is visible to the rest of the organisation. One of the most interesting comments I heard recently from leaders at a Professional Services firm was that they were working flexibly and assumed that others in their teams were doing so as well. However, this was not the reality. Their teams were often unaware that they were taking this approach as the leaders weren’t communicating about it and hence the signal that this kind of autonomy in working style was accepted and, lo and behold, normal was not being received. Mr. Ryan’s very visible commitment to work/life balance will hopefully act as the cue to his team that making time for family is not a barrier to success.
That is the implication for his own team, but what about the wider American and Global audience? What impact can this action have on a larger scale? These are tougher questions. While Mr. Ryan has the bargaining power to make such demands, the average American worker does not. Moreover, he has previously voted against providing paid family leave for federal employees, which has made him an unlikely advocate for a cultural shift in favour of work/life balance. It’s promising to see signs of his change in views on this and we will have to expect that as a matter of course, he will now work for these rights to be extended broadly so that it is both socially acceptable and financially viable for all dads – and not just those in powerful political positions – to exercise the same choices.
So, can Paul Ryan move the needle on work/life balance? My view is that he can certainly change one important aspect of the dialogue. We need more male leaders to demonstrate their desire to be actively involved in their children’s upbringing and highlight the challenges they face in juggling responsibilities – and of course the flexibility they avail of in order to strike a balance. Making this a conversation that managers have with all employees, rather than a request working mums submit to HR, will be a significant step in achieving work/life balance and gender parity.