***Article 3*** [ The Network Economy - The N Gen and Employee Retention ]

With “81% of all organisations percei[ving] [employee] turnover as having a negative effect on their effectiveness”[1]; how can organisations in todays network economy engage their workforce in a cycle of continual excellence that leads to high employee retention?

To really dig into this we need to firstly analyses the fundamentals that define a Network Economy [ since like I haven’t really done that in the introductory post as effectively as I would like to in hindsight ].

Kelly and Liebowitz in a publication I have which I will scan on my Google Picasa public page soon indicates that a Network Economy is more like a “all for one and one for all” type of economic system made up of millions of different types of networks – where a network – per se – can be anything from users to a forum, mailing list subscribers and facebook fan page members, collaborative or networked businesses, computers, trucks and even fax machines!

Now when this is put into context, we can appreciate that businesses have always relied on a network of any king – whether be its supply chain or vendors or even campaigns that incite word of mouth advertising. Therefore, the concept of the Network Economy is not a new concept; but more so the result of an alchemy of industry trends, technological advancement and global intellectual appreciation which consequently manifests in the form of exemplary examples of network economics at work.

A very vivid example would be the Blizzard Network which incubates and actively self-propagates an active subscriber base that interacts with a global network of gamers in a computer generated fantasy world.  These types of virtual worlds are prime examples of the increasing popularity of collaborating or finding alternative lifestyles through the power of the internet. This provides anyone with a poignant point of reference to understand the mechanics of how the future of work may be i.e. virtual avatars and real time simulations.

So basically, to be successful in maintaining your employees in anticipation of this paradigm shift, businesses need to understand a) the changing nature of relationship management with employees and more significantly b) the N-Generation as an army nurtured through the rise of the internet.

This new generation of workers have a new work ethic which aligns themselves to the interests and paradigms of their time. Things such as openness, freedom, authenticity and innovation are endemic attributes each one possesses.

Therefore, attracting what is known as N-Gen Capital will require companies to revamp their employee development model from recruiting, training and retaining to initiating their development and helping them evolve their relationships and capabilities.

Now these are just the basics! The complexity arrives when organisations need to align their research and people departments with a seamless integration of the new workforce with existing organisational values and systems. So things like what is the role of technology in an N-Gen workforce and how N-Gen norms will change management will arise in all levels and forms.

Attraction and retention will take a whole new form with individual and organisational influences requiring a flexible approach in creating a culture of engagement to accommodate this new breed of worker.

Doesn’t this sound like an excellent means to promote a pay rise for yourself guys? Go for gold!

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[1] Source: TalentDrain statistic sourced from slideshare.net

**Article 2**[ The Network Economy : Doom or Bloom ]

Right, thealphaswarmer seems to be getting some interesting traffic these days and most of them are from business oriented enterprises. So, we will start by saying that did you know that embracing “work anywhere” can reduce your HR/staffing costs by a whopping 40%!!??

As the baby boomers reach transitionary retirement and start accessing their preservation benefits (superannuation), there is a literal army of Generation Y and younger who are emerging into the workforce.

This generation is like no other, equipped with astute emotional intelligence and discerning antennae for searching ‘what’s new and happening’ in I guess every dimension. I mean this new workforce is now capable of ‘broadcasting’ information about anything ranging from who is dating who within their social circles to intensive feedback or tribulations about services and products in what we now appreciate as the Network Economy.

Information flows like open rivers, asymmetries exist only for a small time (I mean traders who look for arbitrage openings only have minutes if not seconds to respond – hence the proliferation of artificial intelligence software systems used by traders). 

These days, before a prospective interview, job seekers can run complex (and often real time) searches about conversations about that employer, company, its products/services or even about its people. The Network Economy facilitates these conversations in what we can now attribute as the world wide web 2.0 transitory into the www 3.0.

Now back to the point; what would the new worker value? From traditional values to emergent ones; aspiring to the management hierarchy is now outstripped by the dissolution of fear to change jobs frequently. New roles will emerge. Companies will need people to fill positions such as Collective Intelligence Officer, Ecotects to things like Neurological Training Officer.

Amongst the change or manifestation of new roles and career pathways is the core requirement that the future worker be highly social, highly collective and be able to tap into and contribute to the intelligence of crowds.

With the rise of another field – which will be another volume in fact – Enterprise 2.0 in the future of work means that knowledge management will take a whole new perspective. Aligned with the emergence of new roles such as Collective Intelligence Officer (as mentioned above) will be the utilisation of collective platforms, predictive markets, crowdsourcing and wikis to a whole new level.

Co-working in its own right will be re-defined as the means to band together in an ad hoc fashion to create infrastructure and community through diverse means including virtual worlds and environments which enhance augmented cognitive abilities and coordination skills will become innovation imperative.

Complex computational systems will treat everything as a multivariate algorithm; from crowd dynamics to staffing and real time administration of departments such as administration and customer contact centres.

With all this in light – its strongly foreseeable that tertiary courses within social sciences, environmental sustainability and change management will equip the worker of the Network Economy with an arsenal of tools to create, sustain and manage the future workplace and its dynamics that is upon every one of us.