Transform Your Workplace
9 Forces that Will Reshape the Workplace with Phil Simon
Tue Jun 20 2023Description
The episode explores the tectonic forces shaping the workplace, including worker engagement, burnout, labor market imbalance, artificial intelligence, and blockchain. It discusses the impact of inflation, remote work, and hybrid work on employee engagement. The labor market imbalance and job opportunities are examined, along with the benefits of remote work and technological implications. The use of generative AI and blockchain as workplace safeguards is explored. The future of work, including AI, analytics, productivity, automation, and worker empowerment, is also discussed.
Insights
Remote work offers benefits such as cost savings on real estate and access to a wider pool of talent
Remote work allows for better work-life balance and increased engagement. Forced return to the office may decrease productivity and engagement. Companies like Cisco have transformed their office spaces to prioritize collaboration over individual workstations. Business travel will need to be more purposeful in the future. Flexibility in remote work is desired by many, but it can impact collaboration and communication. The trend seems to be moving towards three days in the office and two days at home. Burnout and mental health challenges are prevalent among workers, with a high percentage experiencing burnout. Difficulties in finding basic information contribute to stress and burnout.
The labor market is imbalanced with more job openings than available workers
Employees spend a significant amount of time trying to find basic information and coordinating work across different tools. Collaboration Kabuki theater is a phenomenon where employees feel the need to constantly appear busy and working, especially in remote or hybrid work environments. Proximity bias makes it challenging for managers to evaluate remote employees' performance when they can't physically see them. The great resignation is driven by various factors, including the rise of remote and hybrid work, more powerful collaboration tools, and the ability to switch jobs without major disruptions. Generative AI and automation may alleviate labor market concerns but cannot immediately replace all workers due to legal, trust, security, quality, and truth issues. Layoffs are primarily concentrated in the technology sector despite news coverage suggesting widespread layoffs. The tight labor market is influenced by empowered employees seeking better opportunities, remote work options, higher wages due to inflationary factors, and lack of personal bonds with managers. Compensating wage differences apply to location as companies increasingly offer equal pay regardless of where employees live.
Blockchain can provide a safeguard against chaos in the workplace
Zillow's decision to pay people irrespective of where they live challenges the traditional notion that location determines income. Remote work offers benefits such as cost savings on real estate and access to a wider pool of talent. The use of generative AI in the workplace depends on the company's approach, with some embracing it and others banning it due to privacy concerns. Historically, new technologies have created certain jobs while destroying others, leading to shifts in employment opportunities. Management should not dismiss these technologies outright but also not assume they can replace employees entirely. Tools like blockchain can be essential for verifying the authenticity of content in an era of deep fakes.
AI and analytics have implications for academia and the spread of fake news
Generative AI can create original art by using a database of existing art. Prompt engineering may be necessary to output desired art. Using AI tools to generate images may violate artist rights and lead to legal liability. Blockchain is a distributed ledger that records immutable transactions. Blockchain can be used for digital signing, supply chain tracking, and ethical sourcing verification. Adobe and Microsoft are developing blockchain-based verification technology to counter deep fakes. Blockchain can provide a safeguard against chaos in the workplace.
The future of work involves automation, analytics, and worker empowerment
The importance of including blockchain as a safeguard against chaos in the workplace. Concerns about the dangers of AI and the need for government involvement. The potential impact of AI-generated content on academia and plagiarism detection tools. Recommendation of the book 'AI 2041' by Kai Fu Lee, which explores the implications of AI in society. Discussion on deep fake videos and the role of blockchain technology in verifying authenticity. The spread of fake news stories and the need for discerning viewers to read labels. Nine important factors for companies to consider in order to survive technological advancements. Cautionary note about relying too heavily on analytics and measuring targets rather than true effectiveness.
Automation and generative AI may lead to job displacement
There is an obsession with employee productivity, but it is difficult to define and measure. Analytics are not a holy grail and can be misleading. Baseball has made rule changes to make the game shorter and more entertaining for fans. Quantifying everything in remote work using digital tools can lead to gaming the system. The book 'The Tectonic Forces Reshaping the Workplace' offers a conceptual perspective on work. Worker empowerment is important, as seen by the increasing approval of labor unions. Automation and generative AI may lead to job displacement and the need for universal basic income. The future of work will be interesting, with both positive and negative aspects.
Chapters
- The Tectonic Forces Shaping the Workplace
- Remote Work and Employee Engagement
- Labor Market Imbalance and Job Opportunities
- Remote Work Benefits and Technological Implications
- Generative AI, Blockchain, and Workplace Safeguards
- AI, Analytics, and the Future of Work
- Productivity, Automation, and the Future of Work
The Tectonic Forces Shaping the Workplace
00:00 - 07:17
- Phil Simon, author of The Nine, discusses the tectonic forces shaping the workplace.
- The book covers worker engagement, burnout, labor market imbalance, artificial intelligence, and blockchain.
- These forces are expected to have a holistic impact on businesses and employees in the immediate future.
- Inflation is a significant force that will affect various aspects of the workplace.
- The mean rate of inflation over the last 60 years was close to 4%.
- Artificial intelligence and automation tools like robotic process automation will also shape the workplace.
- The interrelationships between these forces are fascinating to explore.
Remote Work and Employee Engagement
06:50 - 13:15
- Remote work allows for better work-life balance and increased engagement.
- Forced return to the office may decrease productivity and engagement.
- Companies like Cisco have transformed their office spaces to prioritize collaboration over individual workstations.
- Business travel will need to be more purposeful in the future.
- Flexibility in remote work is desired by many, but it can impact collaboration and communication.
- The trend seems to be moving towards three days in the office and two days at home.
- Burnout and mental health challenges are prevalent among workers, with a high percentage experiencing burnout.
- Difficulties in finding basic information contribute to stress and burnout.
Labor Market Imbalance and Job Opportunities
12:47 - 19:05
- Employees spend a significant amount of time trying to find basic information and coordinating work across different tools.
- Collaboration Kabuki theater is a phenomenon where employees feel the need to constantly appear busy and working, especially in remote or hybrid work environments.
- Proximity bias makes it challenging for managers to evaluate remote employees' performance when they can't physically see them.
- The great resignation is driven by various factors, including the rise of remote and hybrid work, more powerful collaboration tools, and the ability to switch jobs without major disruptions.
- The labor market is imbalanced with more job openings than available workers due to structural issues like declining birth rates, immigration challenges, and shortages in certain industries.
- Generative AI and automation may alleviate labor market concerns but cannot immediately replace all workers due to legal, trust, security, quality, and truth issues.
- Layoffs are primarily concentrated in the technology sector despite news coverage suggesting widespread layoffs.
- The tight labor market is influenced by empowered employees seeking better opportunities, remote work options, higher wages due to inflationary factors, and lack of personal bonds with managers.
- Compensating wage differences apply to location as companies increasingly offer equal pay regardless of where employees live.
Remote Work Benefits and Technological Implications
18:45 - 24:57
- Zillow's decision to pay people irrespective of where they live challenges the traditional notion that location determines income
- Remote work offers benefits such as cost savings on real estate and access to a wider pool of talent
- The use of generative AI in the workplace depends on the company's approach, with some embracing it and others banning it due to privacy concerns
- Historically, new technologies have created certain jobs while destroying others, leading to shifts in employment opportunities
- Management should not dismiss these technologies outright but also not assume they can replace employees entirely
- Tools like blockchain can be essential for verifying the authenticity of content in an era of deep fakes
Generative AI, Blockchain, and Workplace Safeguards
24:41 - 31:02
- Generative AI can create original art by using a database of existing art
- Prompt engineering may be necessary to output desired art
- Using AI tools to generate images may violate artist rights and lead to legal liability
- Blockchain is a distributed ledger that records immutable transactions
- Blockchain can be used for digital signing, supply chain tracking, and ethical sourcing verification
- Adobe and Microsoft are developing blockchain-based verification technology to counter deep fakes
- Blockchain can provide a safeguard against chaos in the workplace
AI, Analytics, and the Future of Work
30:34 - 36:30
- The importance of including blockchain as a safeguard against chaos in the workplace
- Concerns about the dangers of AI and the need for government involvement
- The potential impact of AI-generated content on academia and plagiarism detection tools
- Recommendation of the book 'AI 2041' by Kai Fu Lee, which explores the implications of AI in society
- Discussion on deep fake videos and the role of blockchain technology in verifying authenticity
- The spread of fake news stories and the need for discerning viewers to read labels
- Nine important factors for companies to consider in order to survive technological advancements
- Cautionary note about relying too heavily on analytics and measuring targets rather than true effectiveness
Productivity, Automation, and the Future of Work
36:17 - 41:59
- There is an obsession with employee productivity, but it is difficult to define and measure.
- Analytics are not a holy grail and can be misleading.
- Baseball has made rule changes to make the game shorter and more entertaining for fans.
- Quantifying everything in remote work using digital tools can lead to gaming the system.
- The book 'The Tectonic Forces Reshaping the Workplace' offers a conceptual perspective on work.
- Worker empowerment is important, as seen by the increasing approval of labor unions.
- Automation and generative AI may lead to job displacement and the need for universal basic income.
- The future of work will be interesting, with both positive and negative aspects.