Matthew Franceschini is a co-founder and the CEO of Entity Solutions. He has over ten years experience working at the forefront of contingent workforce management. Previous to that Matthew gained invaluable experience working with the ATO and building a vast knowledge of tax systems and regulations. He also worked in the recruitment industry for eight years. Matthew holds a bachelor of Economics from Monash University and is a qualified account and tax specialist. He is also the Vice President of Independent Contractors of Australia and the co-chairman of Mates of Melbourne; the business networking group of the Melbourne Football Club.

The world of work and the way we engage and manage people in the workforce is transforming.

A panel of five leaders at the ‘Workplace of tomorrow’ symposium from Microsoft, Optus, IBM, Cisco and Fuji Xerox recently discussed how “technological innovations” will continue to shape the Australian workforce and the way we work. I feel this is just part of the reason why the ‘new world of work’ is a global phenomenon that is already starting to have a pronounced impact on the Australian workforce.

Aside from technological changes, there are other key reasons why employers and HR professionals need to not only understand and accept this global phenomenon but to implement real changes in their hiring, retention and performance management policies and strategies or risk being left behind in an ever increasing global war for talent.

Other factors contributing to changes in workforce engagement and management strategies include:

• The global shift towards a preference for assignment and project based work
• The demographic shifts in the workforce and implementing workplace changes to suit the younger generations’ efficiency and productivity preferences
• Skills shortages across the globe especially in emerging industries

All of these factors have arisen whilst organisations face increasing global competitiveness necessitating the need for them to be more flexible, agile and efficient in order to remain sustainable. Organisations that do not adjust their human resources strategies may risk facing a competitive disadvantage and become redundant.

Matthew Franceschini

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