Choosing to incorporate and become a resource for hire is the new weapon of choice for technology leaders seeking to combat unstable employment markets. The Lehman Brothers episode impacted more than just our perception of risk in light of investment banking, it also enhanced the risk we perceive when committing to full time employment agreements.
In 2009 I saw a significant change within my talent network. Whether they were in the trenches of technology or on the peripheries like human resources or marketing; the economic shake down drove people out of their full-time jobs and onwards to hang consulting shingles, launch professional services firms or start promoting themselves as incorporated entities.*
Offering permanent employment these days comes with a list of challenges that revolve around an urgency to produce reciprocal ROI early in the game. Gone are the days of hiring someone and giving them a five year plan. These days, five months is generous. Hitting the ground running is a given, in fact, you better be able to sprint with ground shaking beneath your feet. The risk of full-time employment is two sided and the doubts have everything to do with our economy, and meeting expectations. Employees’ tolerance factors for unmet expectations are as low as the employers they decide to join.
With risk out weighing stability when it comes to fulltime employment decisions, organizations have to become more adept at identifying, attracting and retaining permanent employees. Unfortunately I’m seeing far too many employers rely on recruitment and human capital solutions providers who claim to tackle this challenge and do not.
The inevitable symptom of weak and unstable fulltime hiring practices is a larger contract work force. Ultimately this can be a drain on corporate capital, both intellectual and financial. Especially if organizations continue deny the fact that they aren’t set up to handle the kind of strain a revolving work force can place on an infrastructure that isn’t set up to manage the kind of budgets outsourced resources require or capture knowledge transfer properly. It’s a trend that is strengthening the power and effectiveness of consultants and contractors who have amassed valuable tool kits and proprietary approaches to the work they do. The end result is a resource driven market.
There is a bigger talent pool looking for work than we’ve seen in decades. That means an over whelming amount of profiles and skill sets to choose from. This makes identifying who you want to hire very difficult. In fact, with droves of candidates being sourced thru social networks and job boards and not enough good old fashioned head hunting, sourcing talent is more like casting a commercial size fishing net than a targeted selection process.
Now that too many people are applying and being identified for opportunities, hiring managers are prone to navel gazing and creating long cycles to hire, especially for fulltime hires. This is because they can re-set the horizon with every candidate they meet and often believe that someone better will come along. In the mean time there is always a pressing project or launch that needs immediate attention, and this becomes a need that can be met with a contractor or consultant.
Here’s where someone on short term assignment can always meet demand. With diverse accomplishments in varied environments, contractors and consultants boast impressive engagements that are defined by a beginning and end. Their resumes often detail projects that have been conducted in less than a year within aggressive deadlines involving millions of dollars. Project focused perspectives have an advantage here from the get go. Selection to hire is more rapid, because it is often geared to very specific skills and experience and less about fit. When there is a clear task at hand and a defined impact that can be made, tolerances for cultural discrepancies are very high. In fact, environments run by out sourced talent are some of the most diverse and colorful I’ve seen.
If I were a sociologist or economist, I’d be researching the effects that this new breed of work force will have on corporate cultures, their performances and P&Ls. I’d also be looking at the changes that have to be made in how we educate and prepare our workers and employers of the future. If ultimately we become focused upon 6 month to 12 month engagements, who will be accountable for the long term picture and how will that unfold? What new approaches to talent management and retention will evolve? In what ways will we control the future of our companies and corporations?
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*Here are some organizations that have helped improve the Canadian landscape for individuals who choose to incorporate and/or launch consulting businesses:
The National Association of Computer Consulting Businesses – http://www.naccb.ca
The Tech Serve Alliance – http://www.techservealliance.org/about-techserve/about-techserve.cfm
George Wall and Associates – http://www.wallca.com/Index.html
