How Social Media is Changing

Recent reearch shows that people, epecially younger people, are changing their behaviour in terms of their use of social media. They are abandoning established open media like Facebook in favour of those that cater to particular interests and smaller groups. Sometimes labelled "digital campfires", these media offer more space to discuss matters openly with people having a common interest, greater safety and privacy. Examples are Facebook Messenger and What'sApp, Instagram's Threads, and Community.

So while conventional social media has plateaued or even declined with some groups, people are spending more time than ever on their phones, and the campfires are where they can be found.

This change in behaviour has important implications for marketing because it is harder for advertising to reach the campfires than it is to reach the open social media. That means it is harder to reach the younger demographic, because the older people are still going to the conventional social media like Facebook. So if you want to reach younger people, then you will have to find a way to the campfires. And if you want to reach older people, including senior citizens, you can still use conventional social media like Facebook. For more on this trend, check out this article in the Harvard Business Review.



UpSkilling is Here to Stay

Rapid technology change is causing a lot of disruption in the job market. No news there. It’s been going on for years, just not quite as fast as it is now. Also, the nature of the change going on – advanced data analysis, artificial intelligence, blockchain and others - is more disruptive. One of the reactions in the past has been to recognize that some people need retraining to be able to function in the new job market. But overall, companies have been quite sporadic in applying this principle.

In recent years, corporate management have been pointing out that many of their employees lack necessary skills as new technologies are implemented. And a common refrain has been that at the same time some people are unemployed, companies cannot fill certain jobs because they cannot find people with the necessary skills. Clearly there is a mismatch.

Some forward-thinking companies have been implementing a more comprehensive and positive approach to the problem – upskilling. This is a corporate strategy involving a range of departments, from HR to Finance including in various ways most of the operational areas of the company. It involves looking forward to the changes coming up in the company, and analyzing the workforce to determine which people are likely to be most affected and how. Then efforts are made to provide them with the training to hold their existing job (reskilling) or to get another, perhaps better, job (upskilling).

Implementation of an upskilling strategy is a significant undertaking. PwC has a good section on their website about it and has published a report on the subject as well.

CPA Founding Partner

Chartered Professional Accountants of Canada (CPA Canada), one of the largest national accounting organizations in the world, has chosen to become a founding partner of ThinkTwenty20.