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The Nomad Economy

Catching up with old friends who were in my first summer house in the Hamptons, we all felt we had at least 3 lives since then, because we all had made more than one dramatic career changes. Each change resulted in working with completely different types of people, causing us to adopt very different personas. Apparently, the Korn Ferry Institute has a name for this today, “The Nomad Economy,” where an increasing number of highly skilled employees are broadening themselves by taking on new professional challenges every few years. Today, the average job tenure in the United States has dropped to 4.2 years, according to data analysis by the Bureau of Labor Statistics. That is down from 4.6 years just five years ago and continues a long-term decline. People like Amazon CEO, Jeff Bezos, a computer science grad who had been a software coder in the telecom industry, then a product manager for an investment bank, and next a hedge fund analyst before settling on the career he wanted. Ready to morph?

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