This Week's Herman Trend Alert Green Banks Thrive

The Herman Trend Alert March 16, 2005 The Rise of the Virtual Company Over the past decade, technology has emerged making the congregate workplace, physical facilities where people come to work, practically obsolete. As more people have shifted their routines to partial or total telecommuting, there are fewer people actually working in the company’s buildings, eliminating face-to- face communication, team meetings, and storage of immediately accessible information. As this movement toward people working in remote locations continues to evolve, more companies will become partially or wholly virtual. Already today, there are some companies that do not even maintain headquarters offices. People work from their homes—across the country or around the world, connected by cell phones, voice over internet protocol (VOiP), voice and video conference call systems, fax machines, and live video over the internet. Some people never share the same physical space as their co-workers. The changes in work relationships will contribute to the development of a whole new set of skills for managers, as well as for non-management employees. Communications and coordination of work can be considerably different when people never really see each other. Performance measurement will be based increasingly on results, rather that hours worked. The new virtual ways of operating will influence employers that do not shift to a virtual design as well. Virtual corporations will attract a wide range of people, many of whom will be seeking unusual work relationships, a greater sense of freedom and independence, or an ability to integrate their work lives with family responsibilities. People who are self-starters will find virtual work arrangements very comfortable. Quite a few workers will be reluctant to work in virtual companies, preferring instead to work in congregate workplaces. A growing group of people will find themselves in situations where they interact with virtual workers, often without realizing it. Young people will be attracted to virtual employment because of the independence and application of technology. Some will have been prepared by taking on-line courses. While they may be highly productive, these workers may not develop the social skills that are inherent in congregate work environments. This new breed of citizens will relate differently to politics, community life, and family. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." ANNOUNCING: EMPLOYER OF CHOICE® WORKSHOPS Have you wanted to be recognized as an Employer of Choice®? The first step is to send your champion to The Employer of Choice® Workshop. In Ho Chi Min City, Vietnam (17 and 18 March), Singapore (23 and 24 March), and Accra, Ghana (Week of 29 March), we will hold these two-day learning experiences. We will also hold a workshop in the United States in April. For more information, contact Joyce at 336-210-3548 or email, her: joyce@hermangroup.com. She will refer you to the local sponsor. LOOKING FOR A DYNAMIC KEYNOTE SPEAKER WITH A GLOBAL PERSPECTIVE? You need look no farther. Joyce Gioia (joy-yah) is a sought-after speaker in Asia as well as Europe, and of course the United States. Joyce shares her knowledge and expertise about talent engagement and retention with business executives around the globe. Her understandings and insights will inform and fascinate you. For more information on Joyce's topics, call Carol McKinney at 336-282-9370 or visit the web site at http://www.hermangroup.com/joyce.html. GOOD SELECTION = BETTER RETENTION If you are not using pre-employment assessments, you are flying without radar---not very smart in today's highly competitive environment. Let us help you better understand your candidates and your employees. In less than 30 minutes, you will know if they can do the job (abilities); their work behaviors, even their personality and attitudes (like integrity & ethics), and those can't be trained. It's very cost effective, too! For more information, contact Joyce at 336-210-3548 or e-mail assessments@hermangroup.com. Validated for many countries and cultures. We offer in-depth help with job descriptions, too! http://www.hermangroup.com/assessments.html Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. 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