Globalisation is redefining all aspects of society, including the nature of employment. In this hyperconnected era, virtual corporations and digital workers are taking over, rebooting threads of connections in all areas of the global economy.
This hyperconnectivity is digitising the workforce, compelling them to rethink their traditional employment and management contracts. Today, many billion-dollar corporations are mostly digital. Popular examples are Facebook, Google, Skype, Uber and Netflix, all big industry leaders that have more digital workers and software than physical workers and infrastructure.
Data-Driven Economy
The Digital Era is no longer about knowledge, it is about data. According to JobLogic, data is a driving factor for competitive advantage in the future. In 2020, over 200 billion devices are expected to be connected thru the Internet of Things. Businesses, executives and employees will soon fully rely on data-driven insights, instead of pure human knowledge, to run businesses.
Digitalistmag.com reports that by 2030, ten percent of the largest corporations in the United States will be virtual corporations with less than 10 percent of their workers working in an office at any day.
Competitive Advantage
More and more businesses are going on board the digital train to either gain competitive advantage or simply not get behind their competitors. These companies are in the process of transitioning from continuous real-time information gathering to a state of “live business.” This state of “live business” includes making organisational structures, resource allocations, and decision-making more liquid, flexible, sensitive, predictive and responsive to the needs of customers.
People and Intangible Relationships
By going digital, businesses can connect with people better and more efficiently. This digital economy will dramatically impact people’s relationships with each other and with businesses. Whether the effects will be more negative or positive, we are yet to find out.
While it can build intangible connections across all people and businesses, it also breaks traditional managerial and organisational structures. And the rise of digital workers may lead to a decline in office and administrative tasks.
On a positive note, the most predictable benefit of this “live business” concept is the ability to empower the entire organisation to play active roles in managing the business. This business model and structure will also afford plenty of time for innovation and the search for competitive advantage to increase customer satisfaction.
