Flat, Fluid, and Fast

Workers in the 21st century change careers as often as 20th-century workers changed job titles.

Millennials want mobility, flexibility, recognition of their skills, fair compensation and benefits that match their contributions to achieving their employer’s objectives. They want to reinvent themselves and constantly learn. To remain competitive, companies must adapt and change with millennial expectations. They must become “flat, fluid and fast,” or “F3 Companies.” Such firms help reinvigorate their local economies as they address 21st-century challenges.

Consider four ways to classify employee movement:

• Full-time employees (FTEs) – These workers have traditional jobs with the usual benefits.
• Contractors – These workers perform specific, fixed-term work. In the United States, they are called “1099 workers” after their tax designation.
• Freelancers – These workers do high-value, specific work. Companies hire them on demand, and they often work remotely. 
• Gig workers – These workers come and go. Companies hire...