The Future of Work.
Next week (Feb 4) my second book Rethinking Work on which I have worked for two years will be published by HarperCollins in the US and India and then the rest of the world very soon after. It will be available as a hardcover, an ebook that can be read on any platform on any device, an audio book and on Kindle.
If you order it today you will have it on Feb 4. Here are all the places to order from including Amazon, Walmart, Barnes and Noble, Target, Independent Book Stores and more. For those ordering in India here is the link
The photograph above with me and stacks of the book before publication date is because HarperCollins shipped them early to a Wine Industry Conference in Monterey California that I was speaking at . HarperCollins has also agreed to ship books for events at American Express in New York, Bain Capital and their Portfolio CEO’s in Boston, the IAB Annual Leadership Meeting in Palm Springs and Nielsen’s leadership conference in Georgia all occurring this coming week before book launch.
I am now a traveling salesman!
Rethinking Work illustrates how every individual whether one is a CEO, a team leader, a middle manager or a new employee of any type and size of company in any country or industry can thrive during a period where work will transform more than it has in five decades!
If you find the writing in this thought letter worth your time, you might find the book a great resource, a tool, and a guide filled with new ideas, approaches, frameworks as well as perspectives, provocations , points of view and most importantly plans of action.
And like my first book each chapter is a book of its own versus the same chapter repeated a dozen times. There are chapters on developing reimagining strategies, recalculating financials, retraining the work force and how best machines and humans can align and what it will take to lead in the new era.
The book is likely to change not just how you think about your work and career but every aspect of your firm from strategy, to financial measurement, to talent development and organizational structure.
The book will be supported by a multi-media site, a You-Tube channel, a series of workshops, many other resources and partner as the Rethinking Work platform. You can already watch videos, listen to conversations and access research in the first baby step iteration of the platform here.
Below is a 90 second overview of the book followed by some perspectives on how work and industry will change in the next five years or less.
Some thoughts on the Future of Work.
1. Most companies will have significantly fewer full time employees than they have now because of in addition to AI, companies will leverage marketplaces and the growth of fractional employment.
2. There will be far more companies in the future. This year there will be a record 6 million new firms launched in the US alone and this is likely to grow exponentially as a combination of distributed work, new technology, market places and side hustles, low code and no code solutions make it easier than ever to create and scale new firms.
3. The least important challenge in the future of work is where one works. Companies who are focussed on getting everybody back to the office are asking the wrong question. The question should be how to maximize the impact of in person interaction in ways that are personalized and customized to Client needs, type of job, seniority, personal situation and market place dynamics for any particular expertise.
How can a company talk about personalization, agility, flexibility, cost competitiveness and being future forward and then enforce a one size for all model that insists everybody return to a container of the past and be expected to be taken seriously as a company of tomorrow and hope to compete with new competitors starting today that start with a blank sheet of paper that reflect new mindsets, new marketplaces and new technology?
4. We have entered an age of de-bossification as people are rejecting “boss- like” behavior and are looking for leaders. Bosses spend almost all their time measuring, monitoring, overseeing, allocating, nitpicking and “checking-in” while Leaders spend most of their time creating, selling, guiding, building, mentoring and growing.
The modern leader will not be just full stack but wide spectrum.
They will focus not on zone of control but zone of influence.
They will combine a growth mindset, an ability to connect dots in creative ways, and communicate and inspire with data driven story telling.
The crisis that many companies face is that of leadership. Of moving forward and reimagining what it is to lead a company, understanding what a company of the future is and reimagining one’s career versus returning to the status quo.
5. Three criteria will be key to the the future of work both for the individual and company.
a) Investments in learning and training across all levels.
b) The ability to connect people, data, interfaces and opportunities inside and outside the firm in flexible and cost effective ways. We are living in a connected age and connection is the key.
c) Trust and distinctiveness. Trust will be critical in a world of algorithms, agents, and AI for companies, for brands and individuals. Distinctiveness which can be defined as differentiation through excellence in key criteria that matter will will be a key to compete.
6. The individuals and companies that will win in the future will rethink the strategy of their firm for a world of a) declining and aging populations, b) shifts of power from scale of size, resources and spending to that of data, networks and talent, c) for a world where knowledge will be free ( but not wisdom, insights and ideas) , and d) where the ability to charge for hours of input and FTE’s (Full Time Equivalents) will be destroyed by Generative, Agentic and Physical AI.
Everything and more about the book at Rethinkingwork.io
Video by Ria Tobaccowala
Photograph by Rekha Tobaccowala
3 Ways to Thrive.
Successful leaders, teams and companies that endure over the long run seek to find balance, unity, and integration.
They work to balance opposing dynamics and points of view from how they invest for today versus tomorrow and how they compose leadership teams with differing points of view.
They strive to unite their organizations to work collaboratively to achieve common goals.
They recognize that in diversity there is strength, and it is important to integrate several perspectives and skill sets to succeed in an increasingly fast moving and complex world.
To balance, to unite and to integrate is difficult because it requires nuance, trade-offs, empathy, and communication skills.
It is recognizing that there is rarely a silver bullet answer or simple and easy solution.
Balance: The Mandalorian and Lawrence of Arabia.
Between 1962’s Lawrence of Arabia and 2020’s The Mandalorian there is much in common including each being an innovative use of a new film technology. It was 70 MM wide screen for Lawrence of Arabia and high-definition streaming for The Mandalorian which brought Disney into the future.
But in world view they are completely different.
In Mandalorian we sense a force and a code best captured in the line “This is the way” repeated throughout the series. There is a code of conduct almost religious. A way of doing things handed down over time. A deterministic march forward.
In Lawrence of Arabia a key theme is of old ways and traditions being challenged best captured by the line “ Nothing is written”. The desert is empty, and the sands are wiped clean with the winds of change. The past is not an anchor, and one must write, sculpt, and invent the future.
Most individuals and firms must balance both the roots (history, legacy, anchored costs, reputation, provenance, rule of law and expectations) of “this is the way” with the wings (leaps of faith, casting of on a new journey, challenging the status quo) of “nothing is written”. We must balance roots and wings.
Portfolio managers need to balance safety with risk to reach for returns while working to preserve capital.
Balancing is difficult but a focus on one extreme versus the other rarely allows for long term success.
Unite: The lessons of sports teams.
Regardless of the sport, the teams that win titles tend to share two characteristics.
1) Talent: they have a disproportionate share of great talent
2) Unity: they are passionately aligned and united to achieve a common goal
Often it is not the team with the best talent that wins but the one where the talent are passionately aligned and united either due to culture or great management.
Teams are not collected they are built and forged.
It takes time but once finished in the furnace and foundry of time and experience they operate at levels of performance and delivery that create a unique competitive advantage.
Similarly, companies win contracts and retain clients and take on external challenges where there is a glue of culture, purpose and values that ensure a gestalt (1+1=3) which sets them apart. People choose with their hearts while they use numbers to justify their choice.
A leader can get elected or selected by dividing and conquering for a short while, but sustained legacy and success is usually forged through uniting and uplifting.
Unity is hard and harder still in polarizing times, but a divided house will most likely fall.
Integration: Judicious surrender to the force of opposing tendencies.
If balance is often about allocating between today and tomorrow and unity about aligning different perspectives and people, integration is blending these opposing forces and personalities in a way that works and delivers.
While it may seem difficult, we all do so as individuals since each of us integrate many identities.
F Scott Fitzgerald wrote that “the test of a first-rate intelligence is the ability to hold two opposing ideas in mind at the same time and still retain the ability to function”. When applied to companies we could write that first-rate companies are able to operate two business models at the same time, one optimized for today and one focused on creating tomorrow even if it eats today.
Today the big luxury brands are seeking to integrate aspiration ( specialness, history, limited quality, high price, cathedral like retail spaces) with access ( bringing in tomorrow’s buyers, reflect unique cultures, be available online) and integrating them so the brand can combine these different product portfolios and go to market strategies without the underlying story and brand falling apart from its internal dichotomies.
The best always balance, unite and integrate.
Balance roots and wings.
Unite diverse talents and voices into a common culture.
Integrate multiple and often opposing approaches.
These are the three keys to thriving.
Rishad Tobaccowala helps people see, think and feel differently about how to grow themselves, their teams and their business via the Rethinking Work Platform, The Athena Project and the Future Does Not Fit in the Containers of the Past Initiatives. More here: https://www.linkedin.com/in/rishadtobaccowala/
Rethinking Meetings.
Image by Underchild using Midjourney.
We spend our time in meetings.
Meetings at work. Meeting friends. Meetings where we present and meetings where we are presented to. Meetings with all sorts of people. Meetings in the real world and meetings over screens and in the future meetings in virtual spaces.
In fact, many of us spend so much time in meetings that how we spend our time in meetings is how we spend a large part of our careers!
In business there are many who find meetings a waste of time and try to make them as short, small and few as possible. Many try to avoid meeting people and have gate keepers and delay tactics ready to brandish. Some leaders use meetings as ways to ensure discipline and instill fear.
A different way to approach meetings.
There are a lot of books and articles on meeting management and how to get the most out of gatherings. Most of them are utter and complete BS because they all focus on how we can get the most out of a meeting, while the focus should be how can we give the most in a meeting.
If we go to a meeting with an “extraction” mindset versus a “giving” mindset we are likely face a number of problems including a) missing meetings where we may have been able to share our knowledge and therefore build goodwill and our reputation , b) become so focused on what we are looking for that we do not discover what we need and c) becoming over confident that we know more than anybody else that we do not learn and grow.
So, we might end up with less and less knowledge, find ourselves shocked and surprised at things that come from left field and suffer a diminished reputation.
To maximize our meeting experiences, we should focus on generosity, empathy and energy as the keys to meetings.
a) Generosity.
How can we leave the person or the people whom we are meeting with or presenting to with a gift? A gift of knowledge or insight or a way to see things that they did not have before. Something that makes them believe that it was a good use of their time to be in the meeting.
Besides knowledge some other ways to be generous include appreciation of their skills and their contributions. Everyone wants to be acknowledged and recognized for their good work.
Another way to be generous is to provide guidance. People are hungry for advice, directions and stories to navigate whatever challenge or situation they face. Providing perspectives, stories and experiences resonate and scale in empowering and growing people.
Knowledge. Appreciation. Guidance.
b) Empathy.
How can we truly understand the other persons perspective and point of view because in doing so we will grow even if you disagree with their perspective or view. If we are presenting, how can we make sure that our talk is relevant to the audience and the issues they have in mind and not some boiler plate boiled anew. Is it not ironic when speakers talk of relevance and customization and but do not customize or make relevant their content to their audience? Basically, they are saying that their time is more valuable than the audience!
Three ways to ensure empathy is to seek to understand by asking, listening and re-stating the problem and situation. By reframing the problem using analogies and other categories and finally by sharing relevant personal experiences.
Understanding signals we are listening. Re-framing telegraphs that the problem or challenge being faced has been shared by others. Personal experiences ensure a human connection and re-enforces that we have been in this person’s shoes or seen others who have been.
Understand. Reframe. Storytelling.
c) Energy.
How can we leave the folks in the meeting more energized and feeling better about themselves? So much of success is attitude, belief and hope. So many meetings leave folks dispirited, brow beaten, scared and worried. One does not have to be all bouncing beans unrealistic but let’s be pragmatically enthusiastic if we want progress.
There are three keys to ending a meeting with energy. First is clarity. People should be clear what next steps are for each of them. Second is belief which is a belief that they can tackle these next steps and finally a plan which is how they go about doing the next steps. At the end of every meeting are things clear, do people believe they have the tools and skills to do what is next and do they have a plan?
Clarity. Belief. Plan.
By focusing on giving versus getting we are almost guaranteeing a great meeting because at minimum the other folks leave the room better off and feeling positive about us. And in feeling that way they become an ally, a supporter and an advocate for us, so we get something out of it.
But what happens is much more. During the meeting once they understand that we are giving without asking, they give in return. Knowledge. Insights. Help. Lots of other stuff. Often in the meeting or as a follow up.
Finally, because we have treated their time as precious, they treat our time as precious.
And this approach to meeting works in both the real world and the virtual world. It works across every culture and country. It is effective in both personal and business situations.
Think about the other person or people.
And meetings become valuable, fun, educational and energizing.
Go beyond rethinking meetings to to Rethinking Work. Out Feb 4. Available for pre-order and bulk orders everywhere including now available for pre-order in India!
Paradox.
To be financially successful in the coming years, it’s not just about capitalizing on the new ways to make or save money.
The world is changing, setting up a situation in which organizations must learn to take two seemingly opposite actions in order to be profitable. As we move to distributed work, as technology advances, and as other trends transform society, a set of opposing but connected forces have emerged: Fragmentation and Integration.
Fragmentation is occurring because of the following four factors:
1. Employee range: different employee types have emerged, from full-time to part-time to contract worker to just-in-time employees hired through marketplaces.
2. Wider spectrum of resources: to get work done, companies are drawing from diverse places, including platforms such as Amazon Web Services and other cloud providers; different real-estate resources, from owned, rented, and accessed (WeWork); and varied ways to reach customers through traditional media, digital media, and more.
3. Differences in measurement: because of technology and a plethora of real-time data, companies can measure everything in astonishing detail, creating a wide variety of dashboards and metrics.
4. Customized products and services: companies now have a growing complexity of products and services in a world where customers expect personalized approaches and different ways to pay.
The Importance of Integration.
As everything fragments into a mind-boggling variety of employee types, resources, measures, and products/services, organizations must integrate these various elements into a viable whole.
Specifically, they must create:
1. Seamless interfaces with employees regardless of employee types: consumers and customers do not want to see the complexity of different types of workers or where they may be based, so companies need to ensure seamless service and handoffs between employees. This complexity is only going to become worse at many companies, and leaders need to figure out ways to coordinate employee projects effectively.
2. Best combination of resources to manage costs: companies need to combine all the resources that go into creating products, to ensure lowest cost and continuous availability.
3. Integrated measurement and dashboards: businesses can combine myriad sources of data into an accessible, useable (by management) dashboard.
4. “Goldilocks” strategy for products and services: companies need a sufficiently large range of services and options to remain competitive but not so many that their complexity leads to increased cost and consumer confusion. The goal is to find the ideal mix.
Integrating all these elements in the face of fragmentation isn’t easy. Managing a paradox is challenging, requiring that leaders go beyond their traditional management strategies and try something new. Yet this is one of the keys to financial success in the future, making it worth the effort.
The most successful companies combine this personalization and customization at every interaction with a combined intelligence that integrates the data, focuses the choices to those most relevant while combining inputs in ways to maximize impact while minimizing costs.
The largest TV network in the world which is You-Tube is a case study of a company that on one end fragments individuals into one person media companies, personalizes messaging and content by viewer but integrates the measurement and the sales process to ensure ease by combining data and providing simplicity of access.
The future of not just media but every firm is this paradox of fragmentation through personalization by person and customization by platform, language and country on the edge combined with integration through data powered by AI algorithms at the core and center.
Work, organizational design, measurement, talent flows and company valuations will all be driven by the ability to handle the paradox.
The Rethinking Work Platform is launched.
Paradox is extracted from Rethinking Work which is 30 days away and available as a book, as an e-book and as an audio book (Feb 4, 2025 including in India). Now available for pre-order on every platform.
The book will be supported by Rethinkingwork.io which will include videos, podcasts, resources and much more. The initial pre-launch platform is up at Rethinkingwork.io. where you can watch videos of the key themes (Watch), download the entire opening of the book (What’s Inside), find comments from CEO’s and more who have read the book (Testimonials), access the first 3 amazing resources on where work is going (Resources) and find a range of places to buy including 25 copies or more at half off (Where to Buy).
There will be much more coming once the book launches.
Until then it would be terrific if you pre-order. This book will change your perspective on work and provide not just trends, cases and points of view but highly actionable frameworks, provocative new data and a vision for how to best thrive in the tsunami that has just begun regardless if you are a CEO or a trainee.
Work will change more between 2019 and 2029 than it has in the five decades before.
Rethinking Work is one way to prepare your firm and yourself.
More on Rishad Tobaccowala here: https://rishadtobaccowala.com/bio
The Sense of an Ending.
For the last post of 2024 as many of us look back, a combination of visuals and words on the conflation of time and memory…
“What you end up remembering isn’t always the same as what you have witnessed.”
“History is that certainty produced at the point where the imperfections of memory meet the inadequacies of documentation.”
“It strikes me that this may be one of the differences between youth and age: when we are young, we invent different futures for ourselves; when we are old, we invent different pasts for others.”
“We live in time - it holds us and molds us - but I never felt I understood it very well. And I'm not referring to theories about how it bends and doubles back, or may exist elsewhere in parallel versions. No, I mean ordinary, everyday time, which clocks and watches assure us passes regularly: tick-tock, click-clock. Is there anything more plausible than a second hand? And yet it takes only the smallest pleasure or pain to teach us time's malleability. Some emotions speed it up, others slow it down; occasionally, it seems to go missing - until the eventual point when it really does go missing, never to return.”
“I thought of the things that had happened to me over the years, and of how little I had made happen.”
“How often do we write our own endings?”
Photography by Rishad Tobaccowala
Words by Julian Barnes from his book “The Sense of an Ending”