EMPLOYABILITY AND SECURITY IN A FLEXIBLE GLOBAL LABOUR MARKET The changing work environment Today jobs that were not even envisaged twenty or thirty years ago dominate the labour market. The huge growth in the employment of graduates and professionals, in financial services, information technology and niche jobs, has been balanced by catastrophic falls in employment levels in manufacturing, heavy industry and what are now termed old­economy jobs. Jobs in financial services and manufacturing are now equal in number. The trend is similar in Britain and the USA, although faster in the USA. As these new industries have risen, the trade union movement has declined, and membership levels have fallen in both Britain and Germany.‘The basic lesson for the trade unions is that, unless we change, our clear destiny is decline in influence and relevance and ultimate oblivion. It is time to get ready, to face the great challenge and to emerge stronger and more powerful’. British companies and multinationals within European embracing the new mantra: maximisation of shareholder value. This trend is becoming ever stronger in the UK, but is also apparent in the rest of Europe, including Germany. Deregulation is another trend that is growing stronger in Europe. Anything that stands in the way of maximising shareholder value is an obstacle.‘We have seen how quickly this trend is spreading through multinational companies, mostly those with roots in the USA. Business schools have embraced this theory. There is also a consensus among politicians from both the Conservative and Labour Parties on this. They see the USA’s success in generating employment opportunities and believe that this is the way to proceed.’ Meanwhile, there is a difficult clash with the trade unions. Skills, flexibility and high productivity are equated with the idea that shareholder value is most important. But unions believe that company success comes from deeper roots: a high commitment by workers, pride in their work and important values such as trust.‘These virtues are seen as clashing with the objective of maximising shareholder value. Traditional trade union values are under threat and are seen to be fragile, even in companies with a long history of worker value, such as Marks& Spencer.’ What will the future bring? So how will the trade union movement of the future cope with these perceived threats to workers? How will the demands of the new economy impact on traditional union activities? Will unions be able to embrace new ideas and worries from the workforce? Mr Monks is hopeful that the outcome will be positive.‘Security is no longer the most important aspect of employment for people. Instead, the younger workers, mainly graduates, are looking for freedom. They want control over their lives, the ability to choose. What’s important for them is travel, relationships, world experiences. They see their skills in a global context. Working life is no longer limited to one nation, let alone one locality. Workers in the new economy have a global view.’ What workers are looking for now is different from what trade unions offer. Unless the trade union movement 3 © Anglo-German Foundation for the Study of Industrial Society