<h4>References</h4>Bobby Allyn, <a target="_blank" rel="noopener noreferrer" href="https://www.npr.org/sections/coronavirus-live-updates/2020/05/05/850986054/airbnb-cuts-1-900-jobs-25-of-its-workforce-as-pandemic-freezes-travel">Airbnb Cuts 1,900 Jobs, 25% Of Its Workforce, As Pandemic Freezes Travel</a>, NPR (5 May 2020)Faiz Siddiqui, <a target="_blank" rel="noopener noreferrer" href="https://www.washingtonpost.com/technology/2020/05/18/uber-layoffs-3000/">Uber lays off 3,000 more staffers, shutters dozens of offices</a>, Washington Post (19 May 2020)Sara Ashley O’Brien, <a target="_blank" rel="noopener noreferrer" href="https://edition.cnn.com/2020/11/20/tech/uber-diversity-report/index.html">New Uber report shows it slipped on Black representation after layoffs</a>, CNN Business (20 November 2020)<a target="_blank" rel="noopener noreferrer" href="https://economictimes.indiatimes.com/magazines/panache/what-pandemic-demand-for-freelancers-increase-india-sees-second-most-surge-after-the-philippines/articleshow/78424900.cms?from=mdr">What pandemic? Demand for freelancers increases, India sees second-most surge after the Philippines</a>, Economic Times | Panache (1 October 2020)Karen Gilchrist, <a target="_blank" rel="noopener noreferrer" href="https://www.cnbc.com/2020/07/07/freelance-work-grows-amid-covid-19-math-stats-game-hiring-in-demand.html">The pandemic has boosted freelance work — and hiring for these jobs is booming</a>, CNBC (6 July 2020)<a target="_blank" rel="noopener noreferrer" href="https://www.gartner.com/en/newsroom/press-releases/2020-05-06-gartner-identifies-nine-trends-for-hr-leaders-that-wi">Gartner Identifies Nine Trends for HR Leaders That Will Impact the Future of Work After the Coronavirus Pandemic</a> (6 May 2020)

&nbsp;Gigs aren’t new. In fact, gigs have existed for over a century. Today, with the proliferation of the Internet and smartphone apps that instantly connect providers and consumers of services, the gig economy has skyrocketed. In just over a decade, Airbnb, Uber and other digital platforms have opened the gig world to a multitude of workers looking for side hustles. Since then, the gig economy has taken on a persona of its own, slated seemingly for a promising future.&nbsp;<h2>An Invisible Stumbling Block</h2>Alas, the unexpected Covid-19 pandemic had other plans. When the silent coronavirus swept through the world in just months, its trail of destruction was visibly clear. Economies bled, businesses shuttered, and many were left jobless. The world was not ready for a stumbling block of this magnitude. The sudden loss of full-time employment further flooded the gig market with unemployed people seeking alternative sources of income. Already a crowded marketplace, the gig economy now appears to be at risk of oversaturation. Even the big boys of the gig economy are succumbing to the coronavirus effect. Airbnb has cut <a target="_blank" rel="noopener noreferrer" href="https://www.npr.org/sections/coronavirus-live-updates/2020/05/05/850986054/airbnb-cuts-1-900-jobs-25-of-its-workforce-as-pandemic-freezes-travel">25% of its workforce</a>. Uber rides have decreased 80 per cent according to the <a target="_blank" rel="noopener noreferrer" href="https://www.washingtonpost.com/technology/2020/05/18/uber-layoffs-3000/">Washington Post</a>, and reported to have sheared off <a target="_blank" rel="noopener noreferrer" href="https://edition.cnn.com/2020/11/20/tech/uber-diversity-report/index.html">25% of its workforce</a>. &nbsp;There is also a trepidation that automation will ultimately replace some of the jobs produced by the gig economy: driverless cars taking over human drivers and robots performing repetitive tasks with little or no downtime. The allure of the gig economy was flexibility and freedom, but now gig workers are as vulnerable as employed workers in terms of opportunities.

<h2>&nbsp;</h2><h2>Bouncing Back</h2>Despite a short term slowdown in revenue growth at the start of Covid-19, a global report by <a target="_blank" rel="noopener noreferrer" href="https://m.economictimes.com/magazines/panache/what-pandemic-demand-for-freelancers-increase-india-sees-second-most-surge-after-the-philippines/articleshow/78424900.cms">Payoneer</a> revealed promising signs of recovery in the freelancing economy mid last year, with revenues picking up by 28 per cent since the beginning of the year. In fact, the report observed that in the months following the Covid-19 crisis, not only was there an increased demand for freelancers, many countries were experiencing a surge. India for example, saw a whopping 46% increase in new freelancers from Q1 to Q2 last year. &nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.cnbc.com/2020/07/07/freelance-work-grows-amid-covid-19-math-stats-game-hiring-in-demand.html">CNBC</a> reported a 25 per cent increase in freelance job openings during the second quarter of 2020 - compared to the first three months of the year. A recent <a target="_blank" rel="noopener noreferrer" href="https://www.gartner.com/en/newsroom/press-releases/2020-05-06-gartner-identifies-nine-trends-for-hr-leaders-that-wi">Gartner</a> survey reported that 32% of employers are replacing full time employees with contingent workers for greater workforce flexibility.&nbsp;<h2>What Is Driving The Growing Use Of Gig Workers?</h2>Just like the 2008-2009 global recession where we saw businesses tightening their belts and focusing on cost control which ultimately resulted in shrinking full-time employment; the Covid-19 situation is accelerating the rise of the freelancing market with increased demand. The pandemic has reshaped the future of work, pushing remote working as the new norm as a result of global lockdowns and social distancing measures. Businesses are now beginning to realise that outsourcing quality talents is a flexible solution to control costs and boost agility in order to ease them through uncertain times.From the employers’ perspective, hopping onto the gig wagon allows them to have a sharp focus on cost control without the need for additional full-time headcount. Having an on-demand workforce makes organisations more proactive as they can better respond to cyclical demands in their businesses - supporting rapid scale ups when they experience sudden growth spurts. More importantly, engaging the services of outsourced talents allows organisations to tap on specific expertise that may be beyond the capabilities of their current workforce. For some organisations, using gig workers have helped to overcome an entrenched resistance to change in an otherwise traditional work culture.For gig workers, access to virtual portals and technological advancements have made it easier for them to gain access to alternative job opportunities. What excites these job seekers is that there are now avenues for them to feed growing aspirations and work on their own terms. Gig seekers believe that there is a greater variety of work out there, instead of being bound to a 9 to 5 role. The desire to do what they like to do, when they choose to, and the autonomy that comes with freelancing, drive many to seek out the gig economy. Besides supplementing incomes, the prospect of doing multiple things at the same time is a reflection of both progression and independence.The world is changing, and we are now seeing the wide-spread adoption of a contingent workforce. In order for the gig economy to be ‘pandemic-proof’, both employers and gig seekers need to adjust and fully embrace the flexibility of the gig economy. Upskilling and having an open mindset will facilitate a smoother transition for gig seekers. Organisations will have to consider including gig workers in the same ways as regular employees, such as meting out employee benefits like paid vacations or sick leave etc. Facilitating such crucial conversations will play an important role in shaping the future of the gig economy and make it a sustainable future of work.Read also: <a target="_blank" rel="noopener noreferrer" href="https://chanceupon.co/blog/future-proof-your-organization-because-full-timers-aren-t-here-to-stay">Can companies future-proof their businesses? We’ve rounded up some of the pertinent trends coming our way post-Covid.</a>

There’s a better way to grow. And it’s not the traditional way.It’s about rethinking traditional employment archetypes. Can we progress from an economy built on full time employment habitually enslaved by unemployment fears, to one where individuals have greater autonomy and are self motivated to do work that inspires them? And as a result, &nbsp;benefit the economy as a whole?You can’t own full time employees. But you can build a winning team with talent management companies. As businesses demand more, external talents are emerging as the sure forerunners of an agile workforce. At Chance Upon, we partner businesses to get a head start over competition by creating collaborative work between companies and the right talents.

The gig economy has never been tested by a contagion. Can it survive this pandemic?

The gig economy has been growing at an undeniable speed into a global phenomenon. As we enter into the second year of the coronavirus, will the gig economy continue to flourish or will its future start to wane?

Hire anytime, hire anywhere. Hire exceptional.

The Gig Economy: Fad or Future?

<h4>References</h4>James Manyika, Susan Lund, Michael Chui, Jacques Bughin, Jonathan Woetzel, Parul Batra, Ryan Ko, Saurabh Sanghvi,<a target="_blank" rel="noopener noreferrer" href="https://www.mckinsey.com/featured-insights/future-of-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs-skills-and-wages"> Jobs lost, jobs gained: What the future of work will mean for jobs, skills and wages, McKinsey Global Institute</a>, (28 Nov 2017)Ashmi Pathela, <a target="_blank" rel="noopener noreferrer" href="https://blog.markgrowth.com/a-practical-guide-to-having-multiple-careers-3eae8748fde2">A practical guide to having multiple careers</a>, (8 June 2017)M. Marginalia, <a target="_blank" rel="noopener noreferrer" href="https://futureofearth.online/generation-multi-career-one-in-five-working-millennials-have-two-or-more-jobs/">Generation Multi-Career: One in five millennials have two or more jobs</a>, (6 Jan 2017)Sandra Henke, <a target="_blank" rel="noopener noreferrer" href="https://social.hays.com/2018/10/29/multi-stage-career-journey-employers-ready/">The multi-stage career journey - are employers ready?</a>, Hays (2018)Bernard Marr, <a target="_blank" rel="noopener noreferrer" href="https://www.pawork.org/7-job-skills-of-the-future-that-ais-and-robots-cant-do-better-than-humans/">7 Job Skills Of The Future (That AIs And Robots Can't Do Better Than Humans)</a>, Forbes (8 Aug 2018)Sherry Moss, <a target="_blank" rel="noopener noreferrer" href="https://qz.com/work/1268161/how-having-multiple-jobs-impacts-your-identity/">How having multiple jobs impacts your identity</a>, (2 May 2018)

&nbsp;‘A job for life’ or ‘A multi-career life’? The one you pick probably resonates with the generation that you were born in. But a multi-career life, seriously? We aren’t talking about a full-time job with a couple of side hustles here. Instead, we are looking at individuals juggling multiple (and different) jobs at the same time, which is becoming increasingly possible in this rapidly changing world of work.

&nbsp;In a report by <a target="_blank" rel="noopener noreferrer" href="https://www.mckinsey.com/featured-insights/future-of-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs-skills-and-wages#">McKinsey Global Institute</a>, between 400 million and 800 million individuals in the world could be displaced by automation by 2030. Out of these displaced workers, seventy-five million to 375 million may need to switch occupational categories and upgrade their skills.In fact, we are already seeing the onset of a rising global unemployment rate. As the number of full-time jobs diminish, many more people may even need to fulfill several part-time jobs as an alternative to being employed full-time.&nbsp;<h2>A Different Perspective.</h2>It is all too easy to put the blame on automation. While it is true that automation is replacing human workers and fading out full-time jobs, it is also pushing companies and individuals to explore new technologies and upgrade skills to take on a digitized territory. And for many enterprising individuals, this means more than a career change. It presents an opportunity for them to equip themselves with digital skills so as to create multiple streams of income from different work or passion activities. And if one looks at a crisis through a different lens, then this is the time to kick start a portfolio career. &nbsp;Whether that means taking on two or more roles in different industries or combining a few jobs that speak to their passions, &nbsp;employees should take the initiative in crafting their own career paths by pursuing diversified work experiences.&nbsp;<h2>Time To Break The Mold And Be Empowered.</h2>We now live in a world where anyone can be a ‘boss’. It’s a world where small businesses can easily differentiate themselves against the multi-billion dollar titans with just an online presence or even, an Instagram handle. The world is suddenly filled with throngs of entrepreneurs selling anything from ethical fashion to curated home accessories; sustainable candles to artisan perfumes; design work to app developers. The tools to build an online business are so readily available that anyone who has the passion to learn them can easily set up shop. &nbsp;Platforms like Instagram, Etsy, Facebook are creating entrepreneurs all the time and it’s not surprising that a full-time employee is also a ‘web designer’, a ‘photographer’ and a ‘food blogger’. And that is empowerment. Ordinary folks are investing in new tools and learning new skills to capitalise on their abilities to create value, all on their own terms. A multi-career does not discredit one's full-time employment. Instead, one role empowers the other. Why? Because learning in one career leads to discovering that you’re also great for other careers.&nbsp;<h2>Are Employers Ready For The Hybrid Employee?</h2>What about employers? Will they frown upon the hybrid employee who is ‘marketer/ food blogger/ yoga teacher/ photographer/ web designer’? Will they be able to shake away the negative connotation associated with the phrase “jack of all trades, master of none”? Will employers believe that they can actually reap the benefits of these multi-talented hybrid employees who are as productive as they are passionate? &nbsp;While the career progression of the hybrid employee may not be traditionally linear, they offer companies with a unique spread of skills, experiences and expertise that will grow as the market changes. This new breed of workers are highly motivated and effectively use their diverse strengths as transferable skills across their spectrum of work. They are passionate about their multiple careers, and are usually a creative bunch who are often, great problem solvers. &nbsp;Now, more than ever, employers need to look beyond the role that they are hiring for. Rather than seeking out candidates who fulfill the surface prerequisites for an opening, companies have to think differently about how to recruit, hire and retain a new breed of employees who seek different priorities and are eager to experiment diverse roles in their working lives. &nbsp;As AI and machine learning take over mundane tasks, employers need to pay attention to skills of the future that technology has yet to replace. These include assessing the creativity, critical and strategic thinking, empathy, communication and problem-solving skills of the potential candidate. And that’s just the first part. How do companies retain these multi-career minded employees who are unafraid of taking career risks? Companies have to create a culture of creativity and lifelong learning. This may mean helping employees explore multiple career paths and supporting them in developing their hidden talents to build their confidence.So the next time you ask someone what they do for a living and they reply with “I’m a marketer/ food blogger/ yoga teacher/ photographer/ web designer, and I also happen to be an environmental activist.” &nbsp;Keep those raised brows to yourself. &nbsp;This might just be the talent you are looking for.

&nbsp;There’s a better way to grow. And it’s not the traditional way.It’s about rethinking traditional employment archetypes. Can we progress from an economy built on full time employment habitually enslaved by unemployment fears, to one where individuals have greater autonomy and are self motivated to do work that inspires them? And as a result, &nbsp;benefit the economy as a whole?You can’t own full time employees. But you can build a winning team with talent management companies. As businesses demand more, external talents are emerging as the sure forerunners of an agile workforce. At Chance Upon, we partner businesses to get a head start over competition by creating collaborative work between companies and the right talents.

Globally, up to 375 million individuals may need to switch occupations and learn new skills.

Clearly, the traditional linear career is dying. Be it the role or the meaning of work, the career journey is fast changing. Instead of climbing up the corporate ladder, the new work generation is branching out into multiple careers. Are employers ready for a nonlinear workforce?

Why Multiple Careers Are Empowering And What This Means For Organizations

As the economy recovers, transformation and manpower development efforts will enable companies to build up core capabilities and help them emerge stronger. With regards to manpower, Crystal Koh, founder of Chanceupon feels SMEs should consider the modular teams approach. Howie Lim speaks to her to find out more.

With regards to manpower, Crystal Koh, founder of Chanceupon feels SMEs should consider the modular teams approach. Howie Lim speaks to her to find out more.

 The Rise of The Independent Professional

<h4>References</h4>Jacques Bughin, Eric Hazan, Susan Lund, Peter Dahlstrom, Anna Wiesinger, and Amresh Subramaniam <a target="_blank" rel="noopener noreferrer" href="https://www.mckinsey.com/featured-insights/future-of-work/skill-shift-automation-and-the-future-of-the-workforce">Skill shift: Automation and the future or the workforce</a>, Mckinsey Global Institute Discussion Paper, (23 May 2018)Fuller, J., Raman, M., Bailey A., Vaduganathan N., et al, <a target="_blank" rel="noopener noreferrer" href="https://www.hbs.edu/managing-the-future-of-work/Documents/Building_The_On_Demand_Workforce.pdf">Building the on-demand workforce</a>, &nbsp;Published by Harvard Business School and BCG, (Nov 2020)Roy Maurer, <a target="_blank" rel="noopener noreferrer" href="https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/recruiting-is-tougher-2019.aspx">Recruiting is tougher in 2019</a>, SHRM (22 Feb 2019)<a target="_blank" rel="noopener noreferrer" href="https://www.shrm.org/ResourcesAndTools/business-solutions/Documents/Talent-Acquisition-Report-All-Industries-All-FTEs.pdf">Talent Aquisition Benchmarking Report</a>, SHRM, (2017)<a target="_blank" rel="noopener noreferrer" href="https://www2.deloitte.com/content/dam/Deloitte/cz/Documents/human-capital/cz-hc-trends-reinvent-with-human-focus.pdf">Leading the social enterprise: Reinvent with a human focus</a>, Deloitte Global Human Capital Trends, (2019)

&nbsp;On-demand. These words have been springing up everywhere, in practically every aspect of our lives. There’s on-demand music and movies, on-demand deliveries and transportation, even on-demand healthcare. Our lives have been completely changed by this Just-In-Time concept of ‘use-when-you-want-it’. Even B2B industries are engaging on-demand hires to help businesses run lean while ensuring smooth operations. The rapid growth of the “on-demand” economy has progressed into new ways of doing business - and working. &nbsp;The global workforce is evolving quickly, exacerbated by the dreaded Covid-19 virus which is showing no signs of abating. More companies have been forced to conduct their businesses remotely, and the world is finally relenting towards remote working. In a McKinsey Global Institute workforce skills executive <a target="_blank" rel="noopener noreferrer" href="https://www.mckinsey.com/~/media/McKinsey/Industries/Public%20and%20Social%20Sector/Our%20Insights/Skill%20shift%20Automation%20and%20the%20future%20of%20the%20workforce/MGI-Skill-Shift-Automation-and-future-of-the-workforce-May-2018.pdf">survey</a> of more than 3,000 business leaders in seven countries, 61 percent said that hiring temporary employees was the most important to their organizations when asked about what types of labor they were planning on using most in the future. &nbsp;While the future remains uncertain for most businesses, the upward trend of on-demand recruiting with an emphasis on agility is offering a slight glimpse into what the future of work is starting to look like. We highlight 5 questions to help you decide if on-demand recruiting is for you.

<h2>&nbsp;</h2><h2>When does an organization need on-demand talents?</h2>&nbsp;<h3>1. When the organization experiences unpredictable hiring needs</h3>Digitalization, automation, and circumstances beyond the control of an organization can give rise to unpredictable hiring requirements. Startups or companies experiencing sudden fast growth may also seek flexible recruiting solutions. While digitally-skilled employees are needed to move with the times, an unprecedented event such as Covid-19 can throw a sudden curve ball and cause hiring freezes or even layoffs. The process of hiring and layoffs can be costly when you take into account the time and expenses involved for training and retraining, employment and release packages, or simply not being able to find the right person for the job. On the contrary, on-demand talents offer more than a stop-gap measure for resolving chronic recruitment problems. These independent contractors have clear expectations about the job, project timelines, how they will be paid or even secondment options if the organization chooses to retain them as in-house talents. More often than not, these talents possess the aptitude, tenacity and skill sets necessary to help the organization navigate through uncertain times. &nbsp;<h3>2. When recruiting for in-house candidates is not fast enough</h3>Hiring takes anywhere from a few days to months. The Society of Human Resource Management (SHRM) <a target="_blank" rel="noopener noreferrer" href="https://www.shrm.org/ResourcesAndTools/business-solutions/Documents/Talent-Acquisition-Report-All-Industries-All-FTEs.pdf">reports</a> an average time to fill a role of 36 days. Considering that the best candidates are usually off the market within 10 days, recruiting for the right in-house candidates may not be fast enough to fill urgent roles or ad hoc projects to meet the demands of a fast-changing market. On-demand arrangements with digital talent platforms can facilitate and shorten the arduous process to deliver the right help at the right time. &nbsp;<h3>3. When a special skill or capability is required and there is little in-house expertise</h3>In Deloitte’s 2019 Global Human Capital Trends <a target="_blank" rel="noopener noreferrer" href="https://www2.deloitte.com/content/dam/Deloitte/cz/Documents/human-capital/cz-hc-trends-reinvent-with-human-focus.pdf">study</a>, the use of alternative labor is spreading beyond just the IT function. Today’s on-demand workers perform a wide range of activities from IT, operations, marketing to research and development. When in-house expertise is lacking, on-demand recruitment can provide an effective solution in closing skill gaps and bring a much-needed ‘outside-in’ lens to the current team. &nbsp;<h3>4. When companies cannot afford in-house talents</h3>Good talents don’t come cheap. But if you think about the potential overhead savings that come from embracing a hybrid workforce, skilled on-demand talents can be a more viable and affordable option compared to permanent hires. Utilizing on-demand (and often remote) talents free up physical office space. For smaller startups that have limited office space, on-demand talents who are able to work remotely help keep operating costs down in terms of office furniture, supplies, employment benefits and other expenses. As on-demand talents are paid on-project basis, the savings in overhead costs can be substantial for an organization’s bottom line. &nbsp;<h3>5. When internal resources need to be freed up for more strategic work</h3>Leaders and key managers often get caught up with time-consuming tasks that may cause them to put strategic work on hold. In today’s ever-evolving economy, speed is key for fast moving organizations. Outsourcing work to the right help on-demand will free up internal resources for accelerated business delivery. ‘On-demand’ looks set to take up permanent residency in our lives and workplaces. The key to making on-demand recruitment work is to carefully integrate it into the organization’s current workforce. Organizations need to be mindful of differences in work cultures, diversity, trust and inclusion from both sides of the fence. Instead of seeing on-demand talents as a stop-gap human resource measure, start seeing them as a plug-play component that when integrated well into the organization’s circuit board, will spur time to market and power business growth.

Think about on-demand workers as condiments that add the ‘ommph’ to a dish. It’s not about replacing your traditional workers. Rather, the secret formula is a ‘sprinkling’ of on-demand ingredients that will add robustness for a more agile team.

In a matter of Covid-stricken months, companies have been forced to conduct business operations remotely, with some having to let go of employees to survive the global pandemic. Can on-demand recruiting help companies close urgent skills gaps and reduce costs?

Is On-Demand Recruiting for you? 5 Questions To Help You Decide.

<h4>References</h4>Fuller, J., Raman, M., Bailey A., Vaduganathan N., et al, <a target="_blank" rel="noopener noreferrer" href="https://www.hbs.edu/managing-the-future-of-work/Documents/Building_The_On_Demand_Workforce.pdf">Building the on-demand workforce</a>, &nbsp;Published by Harvard Business School and BCG, (Nov 2020)Rachel Muller-Heyndeyk, <a target="_blank" rel="noopener noreferrer" href="https://www.raconteur.net/hr/talent-management/remote-talent-market/">How remote working is changing the talent market</a>, Raconteur (25 Jun 2020)Carol Stubbings, Bhushan Sethi, <a target="_blank" rel="noopener noreferrer" href="https://www.pwc.com/gx/en/ceo-survey/2020/trends/pwc-talent-trends-2020.pdf">Upskilling: Building confidence in an uncertain world</a>, PwC’s 23rd Annual Global CEO Survey 2020Fuller, J., Raman, M., Bailey A., Vaduganathan N., <a target="_blank" rel="noopener noreferrer" href="https://hbr.org/2020/11/rethinking-the-on-demand-workforce">Rethinking the on-demand workforce</a>, Harvard Business Review (Nov - Dec 2020)

&nbsp;COVID-19 has disrupted our economic and social systems. This invisible virus has shut down international borders and caused widespread loss of lives and jobs overnight, changing the way we live and work forever.As the crisis continues its merciless sweep around the globe, it has forced business leaders to rethink and reinvent their hiring practices to navigate through this seismic change. Why? Because securing the right talents as a competitive advantage determines whether companies can survive Covid-19 and compete in the future.According to <a target="_blank" rel="noopener noreferrer" href="https://www.pwc.com/gx/en/ceo-survey/2020/trends/pwc-talent-trends-2020.pdf">PwC’s Annual Global CEO survey</a> findings early this year, 74% of CEOs cited a lack of availability of the right skills as a concern to business growth. This was before the crisis. With the pandemic threatening to uproot traditional business models and deconstruct pre-COVID-era hiring approaches, today’s leaders face an even bigger challenge in the hunt for people with the right skills.&nbsp;<h2>The Hybrid Approach</h2>Covid-19 is accelerating the shift towards the use of digital talent platforms, which is proving to be instrumental in closing the gap for highly skilled, knowledge-based talents. The chase for a leaner, more nimble and flexible organization is evolving into a ‘hybrid structure’ of both internal and external talents, consisting of both permanent full-timers and part-time ‘on-demand’ gig workers. And this hybrid approach might just be the magic formula for smarter hiring.

<h2>&nbsp;</h2><h2>Talents Without Borders</h2>With the onslaught of COVID-19, millions worldwide have lost their jobs as companies either implemented layoffs or instituted hiring freezes in desperate efforts to stay in business. Worse, this grim situation looks set to continue. The world is suddenly filled with jobless people, often with high skill levels of sophistication and specialization, and unbound by geographical limitations. As these displaced workers take to the web in search of work, companies are turning to talent platforms to sieve out the ‘creme de la creme’ from this global talent pool to help meet their business objectives fast.<a target="_blank" rel="noopener noreferrer" href="https://www.hbs.edu/managing-the-future-of-work/Documents/Building_The_On_Demand_Workforce.pdf">Harvard Business School and Boston Consulting Group</a> recently surveyed close to 700 senior business leaders at U.S. firms and the findings from November 2019 to January 2020 shone a bright light on the transformational power of the on-demand workforce. Almost 90% of business leaders believed that talent platforms would be somewhat or very important to their organization’s future competitive advantage. 40% reported that accessing highly skilled workers through talent platforms helped improve speed to market, boost productivity, and increase innovation. If these figures aren’t persuasive enough, read on to reap the benefits of hiring on-demand external talents.<h3>Access to specialised skills and knowledge</h3>Training someone to be competent in skills and knowledge takes time, and traditional employees tend to be more generalists than specialists. On the contrary, many on-demand talents hold specialised knowledge in a particular field or industry and they constantly keep up with industry trends - which can be a valuable asset for companies to leverage on in order to deliver exceptional value.<h3>Quick gap close in in-house expertise</h3>In situations where there is little in-house expertise, outsourced talents offer a faster plug-and-play solution to close the skill gaps.<h3>Speed to market</h3>Talent platforms take away companies’ pain of interviewing, sussing out the right on-demand talent with the right skills to help organizations get up to speed on their projects.<h3>Deliver value without increasing fixed costs</h3>Using on-demand talents frees up space within the office. This can be liberating especially for a small start up with limited space to spare. As on-demand talents are usually paid on a per-project basis, there are potential savings from employment benefits, health and retirement packages - costs which have a significant impact on a company’s bottom line.<h3>Free up critical internal resources</h3>Sometimes the most important plans are frequently put on hold as resources get allocated to other ‘urgent’ (but often less important) priorities. Outsourcing tasks to external talents allows leaders and managers to offload day-to-day work and free up internal resources for more strategic work.&nbsp;Businesses have to get more creative to pursue the talents they need and explore smarter ways of hiring as supply and demand gaps for skills widen. Today’s hirers must recognize the potential of tapping into the diverse pool of on-demand talent strengths in a global market to get access to the right talent with the right skills. More importantly, it is time to acknowledge that the best ideas sometimes do reside outside the organization.

The chase for a leaner, more nimble and flexible organization is evolving into a ‘hybrid structure’ consisting of both permanent full-timers and part-time ‘on-demand’ gig workers.

Recruitment is headed for a revolution. The pandemic has changed the way we work, and naturally, the way we hire. Temporary talent hires are no longer quick fixes, but fast evolving into ‘go-to’ hiring solutions.

Here’s A Smarter Way Of Hiring (And It Isn’t Permanent)

<h4>References</h4>Shivraj Rajendran, <a target="_blank" rel="noopener noreferrer" href="https://www.straitstimes.com/business/economy/most-employees-keen-to-continue-working-from-home-after-circuit-breaker-survey">Most employees keen to continue working from home after Covid-19 circuit breaker: Survey</a> (29 Apr 2020)Kari Paul, <a target="_blank" rel="noopener noreferrer" href="https://www.theguardian.com/technology/2020/may/12/twitter-coronavirus-covid19-work-from-home">Twitter has announced that employees will be allowed to work from home ‘forever’</a> (12 May 2020)Angelique Parungao, <a target="_blank" rel="noopener noreferrer" href="https://www.ekoapp.com/blog/the-future-of-remote-work-after-covid-19-3-common-predictions">The future of remote work after COVID-19: 3 common predictions</a> (14 Aug 2020)Santhosh Viswanathan, <a target="_blank" rel="noopener noreferrer" href="https://www.channelnewsasia.com/news/commentary/coronavirus-covid-19-future-of-work-telecommuting-remote-working-12669716">Commentary: COVID-19 is reshaping what work looks like</a> (27 Apr 2020)Sarote Tabcum Jr. <a target="_blank" rel="noopener noreferrer" href="https://www.forbes.com/sites/forbeslacouncil/2019/03/04/the-sharing-economy-is-still-growing-and-businesses-should-take-note/#598b962d4c33">The Sharing Economy Is Still Growing, And Businesses Should Take Note</a> (4 Mar 2019)Rahul Dé &amp; Ritu Tripathi, <a target="_blank" rel="noopener noreferrer" href="https://www.peoplemattersglobal.com/article/life-at-work/future-of-work-post-pandemic-workplace-scenarios-25849">Future of work: Post-pandemic workplace scenarios</a> (1 Jun 2020)

&nbsp;To say that the pandemic is reshaping work culture is an understatement. Offices are either downsizing or disappearing. From campaigning for flexible working hours to four-day work weeks, the world is suddenly forced to adopt a ‘work from home’ model with the rapid spread of the coronavirus. <a target="_blank" rel="noopener noreferrer" href="https://www.theguardian.com/technology/2020/may/12/twitter-coronavirus-covid19-work-from-home">Twitter</a> has announced that employees will be allowed to work from home ‘forever’. Whether it is temporary or permanent, one thing is for sure: the pre-Covid office as we know it will be gone.What’s next then? Suddenly, the concept of remote working doesn’t seem so remote after all. The resistance that companies had towards employees working away from the office is crumbling, and many are now beginning to realise that the unprecedented global experiment of remote working is actually possible. As companies look into preemptive measures towards the future of work, it is hard to ignore predictions surrounding the most important element of the workforce - the people. Are full-time employees going to disappear altogether with office spaces? Will organizational structures flatten even more? Is the gig economy going to boom even further?The biggest question will be: What can companies do right now to future-proof their businesses? To address this, we’ve rounded up some of the pertinent trends coming our way, and how to smooth the transition moving forward.&nbsp;<h2>Trend #1 Digital Readiness</h2>More than ever, organizations are seeking new technologies to replicate real office environments as closely as possible and bridge geographically dispersed employees. Technologies that enable social workplace activities, creative collaboration and increased productivity are proliferating and met with soaring demand. As workspaces and meetings move online and workflows go digital, companies are seeing increased efficiencies and cost savings from reduced travel expenses. Digital readiness will benefit businesses and give them an edge to compete in tough times.&nbsp;<h2>Trend #2 Moving With The Millennial Generation</h2>By 2025, 75% of the workforce is estimated to be Millennials. Millennials crave feedback and societal contribution in their work and want to feel more as partners rather than employees in an organization. In fact, they have no qualms about leaving the traditional 9-5 work life to seek <a target="_blank" rel="noopener noreferrer" href="https://www.forbes.com/sites/katherinelove/2016/04/27/millennials-chart-paths-to-impassioned-self-employed-success/#7a4aafd47eac">self-employment</a>. Millennials aren’t your traditional full-timers. Rather, they are crusaders of purpose-driven work and will take on meaningful projects in their careers. Millennials prefer flexible working arrangements and the ability to work remotely on different projects.&nbsp;<h2>Trend #3 Remote Working Is No Longer A Perk But A Norm</h2>Amidst the chaos of the pandemic, the world is discovering that employees can contribute and collaborate effectively, even when working remotely. Once seen as an exclusive employment benefit for a select few, remote working is no longer a perk but a norm. For forward-thinking companies, this flexibility should be built into any hiring role to attract good talents.&nbsp;<h2>Trend #4 Full-timers Become ‘Freelance-Specialists’</h2>As companies let go of middle management for a flatter organization and to stay afloat, many of these retrenched specialists will enter the gig economy in search of both short and long term work. In fact, these former full-timers with a plethora of skills and work experiences will evolve to become ‘freelance-specialists’, and businesses should take note.&nbsp;<h2>Trend #5 Effort-based Wages</h2>As offices become less populated, regular full-timers may have to accept effort-based wages similar to gig professionals. This trend is likely to grow as the world gravitates towards remote working and the gig industry. &nbsp;A monthly remuneration could likely be replaced with an effort-based, project-rate salary calculation. As more professionals enter the gig economy, it is also imaginable that a worker will take on work from several firms at the same time, across geographical distances.

&nbsp;Companies will not be willing to pay high real estate costs when employees are not using the office 5 days a week. Remote working becomes a reality. The workforce will predominantly be a hybrid talent mix of skilled specialists extending their expertise to various companies all at the same time.The light will be on gig services and talent agencies offering on-demand expertise from a global labor pool. Furthermore, the evolving Covid-19 situation will almost definitely trigger anomalous business needs. This uncertainty regarding the pandemic will lead companies to seek labour alternatives such as freelancers with niche skills to fulfill short-term projects. The only way to future proof the organization is to have digital readiness, forward thinking leadership and an agile workforce that is on-demand, mobile and highly flexible.

While offices aren’t likely to disappear completely, there is a possibility that they won’t be filled with full-timers anymore.

Covid-19 has undoubtedly accelerated the pace of remote working. Will full-timers head back to the office soon? Or is remote work going to be the norm from now? What trends can we expect to see in this evolving future of work?