Innovation update & market developement in the US

Innovation update & market developments in the US Terry Baker, CEO, Amped Market Place Inc. 10 December 2010

A Relevant History Lesson Your belief about what business you are in drives your innovation

What Business are you in? Most job boards today act like they are in the job listing business Sell: job postings, banners and buttons and candidates all as commodities Progressive job boards realize that they are in the talent delivery system business

What are the changes in the talent delivery business?

Fundamental market shifts occurring New attitudes about work: People will more readily follow their personal aspirations and make trade-offs. New ways of working: Large numbers of young people and more older workers than ever will find ways to work independently or with a small group of colleagues. New ways of finding work: People are leveraging social networks to find and do work. New ways of attracting people to work: Crowdsourcing Large inefficiencies in connecting employers with skilled candidates

Lifetime job 9-to-5 office 14 jobs by 38, whenever, wherever

New Patterns of Work Virtual Sometime FleXible Temporary Self Sharing Job Part-time

Entrepreneurism on the rise Corporate life looks unattractive to more people. People are seeking to be their own boss – or work in smaller organizations. Most innovation comes from small start-up organizations.

Self-employment According to the Census, more than 10 million Americans are self-employed, up from about 8 million in 1980. The number of “non-employer firms” — businesses with no payroll — recently topped 20 million, up from 15 million in the late 1990s. 2/3rds of all the job growth in the city of New York between 1975 and 2007 were self-employment

Economic downturn will accelerate churn in the long run “Companies are inadvertently and ironically conditioning individuals to new ways of working, by breaking the dependency of one all-encompassing work relationship.” Tamara J. Erickson, Harvard Business Review

A new emerging workforce A younger, more informed and independent generation wants a personalized and meaningful job and job hunting experience. A smaller workplace more focused on sustainability and quality is willing to hire fewer, but very high quality, regular employees and augment them with contractors and part-time people.

Crowd Sourcing What work be done by the crowd in the cloud Full-time jobs Part-time jobs Consulting Projects Gigs Tasks

Crowdsourcing is the act of outsourcing tasks, traditionally performed by an employee or contractor to an undefined, large group of people or community (a crowd) through an open call.

Types of Crowd Sourcing…So Far Wisdom of the Crowd “Big Idea” Lottery Many-Hands-Make-Quick Work The Expert Is In World Is Flat Huckleberry Finn Method

Wisdom of the Crowd: Large enough community contains the right answer. Yelp Yahoo! Answers Wikipedia Just Answer KGB

The Big idea Lottery: Large audience competes to win the contest. 99 Designs Threadless InnoCentive GE “Ecomagination” NASA

Many Hands Make Quick Work Trada Pixazza uTest Facebook Mechanical Turk MyGenGo Gigwalkers

Top 500 Attractions Top 10,000 Restaurants Top 1,000 Hotels All Parks All Parking Garages Prices Routed to Gigwalkers Gigwalk: Publish a Gig in 1 Minute The Agents in the Field e.g. Top 10,000 Restaurants

Gigwalkers Personal Assistant Pharma Sales Apple Genius

The Expert Is In Maven Garson Lehrman Just Answer

World Is Flat: off-shoring on-demand ODesk SamaSource CrowdFlower NABURR.com

“Huckleberry Finn” Method Jigsaw Groupon Get Satisfaction Facebook translation “Behind the Scenes” Musical Fiverr

What work will be done by The “Crowd in the Cloud”? The CEO of Liveops, Maynard Web, (the former COO of E-Bay), says that only 4% of commerce is now conducted on-line, (e-commerce), and yet it has become a significant transformer in how people shop and buy. He believes that by 2020, 2% of all work will be conducted on-line, in an on-line transaction and on an on-line platform – and that it will take off from there.

Maybe a new definition for a Job Board Business is in order Job Board access to an ever-changing distributed network of competencies packaged in different ways for different purposes. Candidate A place to explore different needs and their alignment to your competencies, needs and interests

Questions? Thank You!

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Innovation update & market developement in the US

by Madgex on Jan 07, 2011

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Innovation update & market developement in the US — Webinar Transcript