Posted by Dave Lorenzo - Business Coach

Mary Sullivan and Jeff Cornwall both brought to light some interesting information last week.  They both pointed us to a report by the Herman Group that says:

“As employers move through the next 10-15 years, they will discover that concentrating on individuals will be considerably more productive than pushing any one-size-fits-all concept. Employees seek, expect, even demand the personal attention. Their attitudes will drive employers, and then others, to correct their deficiencies. We will see this shift from groups, teams, and classes of people in practically all aspects of corporate life.

Job descriptions will disappear. Replacing them will be role descriptions and individualized “Expectations Statements”. No longer will we attempt to force square pegs to fit into round holes. People will be hired for attitudes and competencies, then trained to build their skills even further. Their training will match their jobs, giving them confidence and satisfaction. Additional training will support job expansion.

Compensation will also be tailored to each employee, rather than paying everyone in the same position the same amount. People, who come to an employer with higher skills, even if those skills are not utilized in their current jobs, will be paid commensurate with those skills. As employers pay more attention to performance management, merit pay will be given more attention. Benefits packages will be designed for each individual employee and his or her family.

Supervisors will engage in more serious performance management, linking individual expectations with individual results. Accountability will be pushed downward in smart organizations, building a greater sense of personal ownership of results.”

This is a utopian success model for what I describe in Career Intensity as The Individual Economy.  In the Individual Economy the value created by an individual becomes personal equity and it is portable.  There is no more need for loyalty to companies as the individuals who provide the most value will always be in high demand.  In a corporate environment these individuals will be called Intrepreneurs.  In small businesses these folks are entrepreneurs.

On the flip side of the coin we will find Workplace Warriors and Management Mavericks.  These individuals provide limited value and will be subject to the same conditions that currently exist in the corporate environment today. 

This is precisely the reason that each and every person must take charge of their own future.  The Individual Economy will reward Intrepreneurs and Entrepreneurs while all others will be stuck in jobs that show little dramatic improvement over the status quo.

For more information, please review the Career Intensity Matrix by clicking here.

Filed under: Individual Economy
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1. The Individual Economy Levels the Playing Field

   I just put up a post over on The Career Intensity Blog that provides a description of The Individual Economy.  In the Individual Economy the value created by an individual becomes personal equity and it is portable.  There is no …

   Trackback by David V. Lorenzo | SoHoSavvy.com — February 12, 2006 @ 17:48

2. […] This goes back to our conversation about The Individual Economy.  In the future the value you bring to your company and your customers will dictate compensation.  A title is worthless if the compensation does not match it. […]

   Pingback by Career Intensity Blog - David V. Lorenzo — February 13, 2006 @ 20:11

3. […] This is the fastest way to succeed in the Individual Economy. […]

   Pingback by Career Intensity Blog - David V. Lorenzo — February 15, 2006 @ 04:44

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