Layoffs and downsizing continue to impact industries that value entrepreneurial-minded employees, such as technology and life sciences. This is precarious because the employer-employee relationship was changing significantly before the pandemic and has been stretched to the limit since then. Gone are the days of guaranteed long-term employment and an environment where every employee acts as a free agent is no longer viable. Add the complexities of hybrid work and it’s not surprising that managers are behind in addressing today’s workplace dilemmas. Reid Hoffman, Ben Casnocha, and Chris Yeh proposed a way to navigate this landscape in their 2014 book “The Alliance” by reimagining the concept of an alliance between employers and employees.
This new pact entails agreeing to maximize mutual benefits during a collaboration (which are assumed to be limited in time) while still developing personal employability after parting from the firm. It consists of three main pillars: defining each party’s “tour of duty,” utilizing one’s professional networks outside the organization, and managing a network of loyal alumni after their employment ends. This model is even more pertinent today than when it was first published due to the ever-changing post-pandemic world.
Companies must go beyond offering competitive salaries and flexible working hours if they wish to attract and retain entrepreneurial employees in a post-COVID world. They must create an environment that encourages innovation by fostering trust and transparency amongst teams, as well as initiatives such as mentorship programs, educational events, and networking opportunities. This will help create a braver atmosphere for collaboration and give teams the support they need to work together effectively.
Ultimately, when employers and employees come together in an alliance of mutual benefit, there is unlimited potential for both parties to reap rewards. It is up to companies to make sure their policies, procedures, and culture align with this new way of working if they want to thrive in our ever-changing world.