On the Horizon
Cincinnati, OH | Posted: 06/19/2016 | Author: Stuart Koenig
As employers see the gig economy becoming more prevalent as a business model, new trends need to be considered for the future. Companies need to be looking forward strategically to make sure they get the most out of the freelance mindset that has taken hold of the corporate culture. They should keep in mind the following trends on the horizon when building business goals.
Rise of the Worker Brand – A freelance-oriented workforce means the company is promoting the worker as much as the brand, sometimes more. Chauncey Lennon, head of JPMorgan’s workforce initiatives, says “The workforce of the past was organized around company. The workforce of the future is organized around the worker. If we can’t find the right people, it’s going to hurt our bottom line.” Companies will have to start realizing the best of the new generation of workers aren’t flocking to the want ads, they’re setting up shop for themselves. That means a workforce that’s self-loyal above all.
Project-Based – With freelancers becoming a bigger piece of the puzzle, corporate philosophy will become more project-based. This means a somewhat more agile methodology, as long-term commitments are dropped in favor of rapid, diverse viewpoints that can better adjust to a changing marketplace. Businesses will find they can embed less of their workforce, and instead pick and choose the right tool for the job with better ease.
No More Walls – The rise of freelance means the fall of a traditional office. As more companies hire contract workers, more workplaces will become remote. Flexibility of corporate constraint is one of the big draws of becoming a freelance artist, and reduces cost for companies. This trend is also beneficial because it means a company can truly become global without traditional buildouts. The trappings of an office building will continue to fall away as a company’s workers take root in new ways.
Benefit Builds – Companies that want to land the best talent will realize that providing freelancer benefits keep them ahead of the competition. Companies like Freelancers Union and Oscar have taken the lead in benefit solutions for contract artists, and it’s only a matter of time before insurance providers follow suit. As freelancing grows, companies will focus on retaining the best talent with insurance and healthcare options.
Lots of Tools in the Belt – The freelancers with the widest variety of skills will be the most valuable, especially for a company that is just starting out. More often than not a startup has a clear overarching goal or vision, but needs help in implementation. A freelance artist cross-trained in a number of areas will be a key asset, as it’s cheaper to hire someone well-versed in many areas instead of one person for each area. As businesses large and small adapt to the gig economy, the full-stack freelancer stands out as a valuable commodity.