A growing proportion of the labor force in developed economies engages primarily in work that involves negotiations, conversations, knowledge, judgment, and ad hoc collaboration. In fact, McKinsey & Company estimates that by 2015, about 44 percent of total U.S. employment will come from such so-called “tacit transactions,” up from 40 percent today. That means that business success will increasingly depend on maximizing the efficiency and effectiveness of these employees. What will that mean for your business and your career? We’ll explain.
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