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How a franchise fits the new world of work

Sarah Stowe

How does a franchise fit into the new world of work? What in fact does the world of work look like? According to the latest report from Deloitte, Global Human Capital Trends 2015, organisations need to “navigate a new world of work”, with the distinctions between life and work fast disappearing.

Thanks to networking tools like LinkedIn, Facebook and job site Glassdoor, information is at our fingertips and the traditional employer/employee relationship has been altered with the balance of power shifting to employees who are more like partners.

Millennials in particular expect responsibility, a path to leadership, greater flexibility and purpose.

Sounds a little like franchising.

So how do the top 10 trends in work dovetail with the franchising concept?

We’ve been a bit cheeky and looked at it from our perspective.

1. Leadership

Good leadership can be hard to find with accelerated leadership models important for firms.

Franchisees can tap into the inspired leadership of the franchisor, but it’s important to take care to do due diligence on the franchisor and find a great leader to follow.

But franchisees can also take steps to become great leaders themselves – both within their own businesses and across the franchise network through mentoring and advisory roles.

2. Culture and engagement

There is a “looming crisis in engagement and retention” in the corporate world so the focus on culture is key.

The good news is that franchisees are naturally engaged in developing their own business opportunity. Investing in a franchise network with the right cultural fit is paramount and franchise chains are increasingly focused on developing this aspect of their businesses.

3. Learning and development

Skills gaps are a significant challenge for organisations, indicates the report.

Franchising is dependent on the sharing of knowledge and best practice, and training is an integral part of both setting up and building a franchise. Franchisees can pick up technical and business skills to add to their armoury. Check the training on offer for franchisees – and for employees.

4. Workforce on demand

A creative approach to employment is reflected in the increase of hourly and contract work. That might be great news for employers, but it decreases job security.

Building up their own business through a franchise model gives the franchise buyer more power to determine their future.

5. Performance management

Innovative performance solutions are being sought by organisations wanting to replace traditional measures.

Some franchisors benchmark their franchisees, some don’t. At the end of the day, profitability of a franchise is an excellent sign that things are going well. For individuals who want to succeed for themselves, not the boss, investing in a franchise allows them to create their own goals and measurements.

6. Reinventing HR

Driving innovation is now an important part of HR.

There will be guidelines for how to recruit and manage employees in a franchise, but buying into a franchise business gives someone the opportunity to take the initiative and employ ground breaking HR ideas, or just do the job better.

7. Talent analytics

The corporate world is slow to implement talent analytics capabilities.

Hmm, maybe a franchisee won’t be going headlong into analytics capabilities – although maybe the franchisor has the ability – but their closeness to staff and access to their own data (if they pick a franchise that is forging ahead with data and technology) will allow them to spot opportunities for great employees that will help them build their business.

8. HR data and social media

Employers are increasingly using third-party data from social media platforms to boost their HR strategies.

Now that’s a great tip, and there are plenty of franchise brands who already harness the power of social media to great effect. Franchisees can expand their horizons by turning to social media to boost and diversify staffing levels.

9. Simplifying work

Increasing complexity of the work, and work overload, is forcing firms to simplify their systems.

When it comes to systems, franchisors have got this one sussed. Every successful franchise operator has a great system behind them. Franchisees are buying into business models and methods of operation; the operations manual can be their best friend – so it’s wise to make sure it’s a good one.

10. Collaborate, don’t compete

How do employees fit in with the increasingly automated workplace? The skills needed to succeed are changing.

Forward thinking franchisors have already established first class communication and reporting systems and business tools that allow their network of franchisees to operate successfully. Collaborating with technology, not fighting it, is the approach to take. A franchise that can provide all this for its franchisees, and is investing in research and development so they don’t have to, is worth a look.

Of course, buying a franchise business isn’t for everyone. But it does fit with the trends for empowerment, leadership and engagement. Perhaps it’s the future for many.

Ready to consider a franchise? Find out how the sector is shaping up.