Prominent career experts believe that the corporate world is beginning a dramatic shift to the "Hollywood model," a short-term, project-based business structure that is very flexible and adaptable.
To get an idea of the future of work, simply look at the business of how films are made. A team is assembled, works together as long as needed to complete the task, and then disbands. All the various people involved are free agents.
Contrast that with the traditional corporate model and its long-term business structure and permanent employees in open-ended jobs. We're already seeing many design firms and technical companies employ the Hollywood model by putting together short-term teams of experts to develop new products or work on big projects. Other companies have adopted the model by hiring more contract or temporary workers for jobs that used to be performed by long-term employees.
You can see the advantages for management and business owners. It's much less costly: they just hire the people they need when they need them. Then, you're on your own until you find the next gig.
This model shifts the burdens of health insurance, retirement income, and job security to workers, diminishing the risk to employers. And it's very targeted to each business situation because the best team can be selected for each particular job.
So how do you succeed in the Hollywood model?
The Hollywood model can work surprisingly well for people with in-demand skills and expertise. (And who add new in-demand skills to stay current.)
It favors the adaptable employee who continually takes the pulse of the marketplace and keeps track of the new industry players.
It favors those who are good at networking and building mutually beneficial relationships.
Above all, the Hollywood model favors those who are good at creating and communicating their value in person in their elevator pitch, through marketing materials like their resume, and online on social media.
In short, the new world of work favors those who are good at personal branding.
In my new book, Graduate to a Great Career, I talk aobut how Millennials are adapting to the Hollywood model.
How about you?