Music Lessons

As a big fan of pretty much all things related to music, I like to keep tabs on the industry itself. And as most of you probably know, the music industry has taken a beating with the increasing popularity of new media including online downloading and file sharing.

Instead of falling back on the traditional way of doing things (and suffering with the rest of the industry), artists like Radiohead and Nine Inch Nails have effectively embraced the web. Check out this Washington Post story on Radiohead and this TechDirt article on Nine Inch Nails for some interesting insight on how they're leveraging innovative online methodologies to not only engage their fans (the majority of whom are in their 20s and 30s) but stay "competitive" in a changing landscape.

As Generation Y makes their way through college and ultimately out into the workforce, we could learn a thing or two from the evolving trends of the music business. Experience recently issued a report outlining the top five trends in 2008 for managing Gen Y, and a key takeaway to stay relevant in the eyes of 20-somethings is the significance of evolving hiring and retention strategies. Millennials are the most technically savvy group of workers that organizations have ever seen. And if employers evolve as their employees evolve, the end result will be a more dynamic and competitive organization where knowledge is shared, action is taken quickly and new avenues are opened.

It's time to face the music.

Photo by Bob Jagendorf