While not a new term, the words “project economy” are being used more and more to describe the changing nature of how work gets done and what we need to succeed in the new 21st century economy.
Businesses are required to adapt more quickly than ever before to market changes, societal changes, economic shifts, and more.
What’s new? Leaders are spending an estimated 70% of their time changing the business in order for the business to stay relevant (as compared to an estimated 10% in days past).*
And what do you think that means for the talent we need at the leadership level? Forward thinking, strategic, adaptive, self-aware, skilled at building and nurturing relationships… these and many other words describe the type of talented leaders we need in the project economy.
If boards and hiring managers (and executive recruiters) are simply looking for someone who has “been there, done that”, they are likely missing out on an incredible pool of talent that is ready to translate and adapt their experience and skills across traditional role, discipline, sector, and industry boundaries.
Talent exists at every age level and every experience level — it’s truly now a matter of how that talent is found and leveraged.
Clients in our Executive Career ReinventionTM program are primed for these cross-boundary leadership opportunities.
They have depth of expertise, decades of people and team management experience, and are eager to translate all of what they have to offer into dynamic, new environments.
They are tested, networked, adaptive, and resourceful. And while we are not an executive placement firm, nor do we do recruiting, we can see the tremendous opportunity that exists from matching the needs of the fast-changing economy with the skills and talents of these mid- and senior-level professionals.
I like the strategic execution competency model shared by Christoffer Ellehuus in his article “Succeeding in the Project Economy”, as it includes the critical People and Self dimensions needed for building & nurturing relationships and improving oneself — including and especially with an emphasis on being able to lead and manage a team effectively in uncertain and ambiguous circumstances.
To learn more about the project economy and this competency model, read on!
*See the work of Antonio Nieto-Rodriguez
Read Christoffer Ellehuus’s full article here.
For those looking to re-tool and stay relevant, check out the training being offered at Duke Corporate Education in partnership with Ellehuus’s firm Strategy Execution, which supports and is integrated with the aforementioned competency model.
Learn more about Executive Career Reinvention here.
Here’s to your reinvention!
Erin Owen, MBA, PCC, JCTC
Executive Career Reinvention
To start your Executive Career ReinventionTM program, apply for an initial call with me here.
Let’s talk! https://calendly.com/erin_owen/30min