<h4>References</h4><p>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"><span style="color:hsl(210, 75%, 60%);">Building the on-demand workforce</span></a>, &nbsp;Published by Harvard Business School and BCG, <span style="color:hsl(0, 0%, 60%);">(Nov 2020)</span></p><p>Rachel Muller-Heyndeyk, <a target="_blank" rel="noopener noreferrer" href="https://www.raconteur.net/hr/talent-management/remote-talent-market/"><span style="color:hsl(210, 75%, 60%);">How remote working is changing the talent market</span></a>, Raconteur <span style="color:hsl(0, 0%, 60%);">(25 Jun 2020)</span></p><p>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"><span style="color:hsl(210, 75%, 60%);">Upskilling: Building confidence in an uncertain world</span></a>, PwC’s 23rd Annual Global CEO Survey 2020</p><p>Fuller, J., Raman, M., Bailey A., Vaduganathan N., <a target="_blank" rel="noopener noreferrer" href="https://hbr.org/2020/11/rethinking-the-on-demand-workforce"><span style="color:hsl(210, 75%, 60%);">Rethinking the on-demand workforce</span></a>, Harvard Business Review <span style="color:hsl(0, 0%, 60%);">(Nov - Dec 2020)</span></p>

<p>&nbsp;</p><p>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.</p><p>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.</p><p>According to <a target="_blank" rel="noopener noreferrer" href="https://www.pwc.com/gx/en/ceo-survey/2020/trends/pwc-talent-trends-2020.pdf"><span style="color:hsl(210, 75%, 60%);">PwC’s Annual Global CEO survey</span></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.</p><p>&nbsp;</p><h2>The Hybrid Approach</h2><p>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.</p>

<h2>&nbsp;</h2><h2>Talents Without Borders</h2><p>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.</p><p><a target="_blank" rel="noopener noreferrer" href="https://www.hbs.edu/managing-the-future-of-work/Documents/Building_The_On_Demand_Workforce.pdf"><span style="color:hsl(210, 75%, 60%);">Harvard Business School and Boston Consulting Group</span></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.</p><h3>Access to specialised skills and knowledge</h3><p>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.</p><h3>Quick gap close in in-house expertise</h3><p>In situations where there is little in-house expertise, outsourced talents offer a faster plug-and-play solution to close the skill gaps.</p><h3>Speed to market</h3><p>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.</p><h3>Deliver value without increasing fixed costs</h3><p>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.</p><h3>Free up critical internal resources</h3><p>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.</p><p>&nbsp;</p><p>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.</p>

<p>&nbsp;</p><p>There’s a better way to grow. And it’s not the traditional way.</p><p>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?</p><p>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.</p>

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.

Hire anytime, hire anywhere. Hire exceptional.

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

<h4>References</h4><p>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"><span style="color:hsl(210,75%,60%);">Most employees keen to continue working from home after Covid-19 circuit breaker: Survey</span></a> <span style="color:hsl(0,0%,60%);">(29 Apr 2020)</span></p><p>Kari Paul, <a target="_blank" rel="noopener noreferrer" href="https://www.theguardian.com/technology/2020/may/12/twitter-coronavirus-covid19-work-from-home"><span style="color:hsl(210,75%,60%);">Twitter has announced that employees will be allowed to work from home ‘forever’</span></a> <span style="color:hsl(0,0%,60%);">(12 May 2020)</span></p><p>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"><span style="color:hsl(210,75%,60%);">The future of remote work after COVID-19: 3 common predictions</span></a> <span style="color:hsl(0,0%,60%);">(14 Aug 2020)</span></p><p>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"><span style="color:hsl(210,75%,60%);">Commentary: COVID-19 is reshaping what work looks like</span></a> <span style="color:hsl(0,0%,60%);">(27 Apr 2020)</span></p><p>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"><span style="color:hsl(210,75%,60%);">The Sharing Economy Is Still Growing, And Businesses Should Take Note</span></a> <span style="color:hsl(0,0%,60%);">(4 Mar 2019)</span></p><p>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"><span style="color:hsl(210,75%,60%);">Future of work: Post-pandemic workplace scenarios</span></a> <span style="color:hsl(0,0%,60%);">(1 Jun 2020)</span></p>

<p>&nbsp;</p><p>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"><span style="color:hsl(210, 75%, 60%);">Twitter</span></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.</p><p>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?</p><p>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.</p><p>&nbsp;</p><h2>Trend #1 Digital Readiness</h2><p>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.</p><p>&nbsp;</p><h2>Trend #2 Moving With The Millennial Generation</h2><p>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"><span style="color:hsl(210, 75%, 60%);">self-employment</span></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.</p><p>&nbsp;</p><h2>Trend #3 Remote Working Is No Longer A Perk But A Norm</h2><p>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.</p><p>&nbsp;</p><h2>Trend #4 Full-timers Become ‘Freelance-Specialists’</h2><p>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.</p><p>&nbsp;</p><h2>Trend #5 Effort-based Wages</h2><p>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.</p>

<p>&nbsp;</p><p>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.</p><p>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.</p>

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?

Future-Proof Your Organization Because Full-timers Aren’t Here To Stay

<h4>References</h4><p>Giana M, Eckhardt andFleura Bardhi, <a target="_blank" rel="noopener noreferrer" href="https://hbr.org/2015/01/the-sharing-economy-isnt-about-sharing-at-all"><span style="color:hsl(210, 75%, 60%);">The sharing economy isn’t about sharing at all</span></a>, Harvard Business Review <span style="color:hsl(0,0%,60%);">(28 Jan 2015)</span></p><p>Kenneth Cheng, <a target="_blank" rel="noopener noreferrer" href="https://www.channelnewsasia.com/news/singapore/the-big-read-sharing-economy-the-next-big-thing-that-never-was-11091908"><span style="color:hsl(210, 75%, 60%);">The Big Read: Sharing economy - the next big thing that never was?</span></a> Channel News Asia <span style="color:hsl(0,0%,60%);">(7 Jan 2019)</span></p><p>Kumar Mehta, <a target="_blank" rel="noopener noreferrer" href="https://www.forbes.com/sites/kmehta/2020/03/23/welcome-to-the-isolation-economy-goodbye-sharing-economy/"><span style="color:hsl(210, 75%, 60%);">Welcome to the Isolation Economy (Goodbye Sharing Economy)</span></a>, Forbes, <span style="color:hsl(0,0%,60%);">(23 Mar 2020)</span></p><p>Shveta Arora, <a target="_blank" rel="noopener noreferrer" href="https://www.infosys.com/insights/disruptions/shared-access-economy.html"><span style="color:hsl(210, 75%, 60%);">Why the Shared Economy is Really the Access Economy</span></a>, Infosys</p>

<p>&nbsp;</p><p>The last decade has placed much talk on shareconomy and its ambitious goals of reducing overconsumption, giving people access to things they wouldn’t be able to afford, saving the environment, and building community. But what exactly is shareconomy? How does it work, or rather, how was it supposed to work?</p><p>Allow me to put this into a relatable analogy for you.</p><p>When I was a little girl, I inherited hand-me-downs from my elder cousin. They came in a variety of clothes, toys, books - basically anything which had outgrown my cousin that will fit me. By accepting these fairly new items, it gave me access to some really cool toys that my parents would have otherwise been reluctant to spend money on. And because we were reusing those items, I guess you can say we played a part in saving the environment. In fact, we passed some of these hand-me-downs to neighbours - usually households with more than one child.</p><p>Sharing is a social exchange amongst people to use, occupy, or enjoy (something) with others, without any market intervention. And in those hand-me-down days, sharing pre-owned items created a supportive camaraderie amongst the mom community in the neighbourhood.</p><p>&nbsp;</p><h2>What About Shareconomy?</h2><p>According to a <a target="_blank" rel="noopener noreferrer" href="https://hbr.org/2015/01/the-sharing-economy-isnt-about-sharing-at-all"><span style="color:hsl(210, 75%, 60%);">Harvard Business Review article</span></a>, when sharing involves an intermediary between a provider and a receiver - it is no longer considered as sharing. It becomes an ‘access economy’ where consumers pay to access goods or services provided by someone else for a duration of time. It becomes an economic exchange rather than a social exchange, with little or no community building. Case in point: When AirBnB started, their idea was to encourage a community of local hosts to share their homes with foreign guests. The value that Airbnb provides is that visitors get to immerse in a local culture, hosted by a native home-owner who serves up insider travel tips, hidden finds and food recommendations. There will be shared living and interaction between owner and guests. But the reality is that visitors simply retrieve keys from a letter box and their accommodation experience isn’t all that much different from checking into a hotel.</p><p>&nbsp;</p><h2>Bringing An Economy of Sharing To An Era of Isolation</h2><p>The sharing economy came with good intentions and with a communal ring to its name. It was meant to transform how we live, travel, collaborate and interact. &nbsp;</p><p>But today, no one really wants to share. Battled by an invisible Covid-19 virus that lurks on every possible surface; the thought of sharing rides, accommodation and working spaces in the midst of an invisible virus appears unnerving. Isolation seems safer and carries less risks. What implications hold then for businesses and communities as we enter into an era of isolation?</p><p>This is where it gets more interesting.</p><p>&nbsp;</p><h2>Enter ‘Flexconomy’</h2><p>When consumers are home-bound most of the time, businesses need to rethink their business models. The rockstars of this new economy will be those of technology, delivery, home entertainment and remote services that support flexibility and convenience at a tap of a button. Simply put, your product or service needs to be tailor-made, modular, agile and arrive right at the doorstep of your consumers. Companies that serve this value to their customers will have a competitive edge.</p><p>In the new Flexconomy, everything has to be flexible. You use what you want, when you need it, for however long you need to. It still involves sharing to some extent, but it's about ‘smart sharing’.</p>

<p>&nbsp;</p><p>For businesses, this will mean a radically different approach to hiring. Instead of departmental headcount, companies need to look at ‘talent count’. Mind you, these talents aren’t owned by anyone, they are remote experts in their own fields who can be hired to start work almost instantaneously on a new project. These talents are shared across companies and industries and thus come with varied experiences that are very much sought after.</p><p>A company can hire a UX researcher for 2 weeks, a UXUI designer for 2 months, and subsequently a team of developers to test and work on the project for another 3 months. Thus for a project that typically takes half a year to complete, there is no need for a company to hire an entire team for a full 6 months duration. It basically uses the talent expertise for the duration that is needed. And that is true efficiency.</p><p>Don’t get me wrong. Shareconomy isn’t dead, yet. But it needs a quick makeover. The sharing economy didn’t transform our lives. Covid-19 did. What we need now is an enabler environment to help us deal with the situation. And unlike shareconomy which didn’t really deliver on its promise of true sharing, Flexconomy takes sharing to another level, allowing one to stack and build modules for a stronger foundation.</p>

Use what you want, when you need it, for however long you need to... It still involves sharing to some extent, but it’s about ‘smart sharing’.

Move over Shareconomy. Your friendlier, flexible cousin has arrived.

Goodbye Shareconomy. Hello Flexconomy.

<p>&nbsp;</p><p>Consumerism, put simply, is the desire to acquire, own and consume goods and services in excess of one’s basic needs. Economically speaking, encouraging consumer spending is a key driver of economic growth. Consumers benefit from the utility of the goods or services that they acquire, and businesses profit from the increased sales. As a result, increasing consumption appears synonymous with economic health. Or at least, in the traditional sense.</p><p>But, today’s consumers are changing. They are savvy, more knowledgeable and more socially-conscious. Instead of engaging with companies in a purely economic sense, they pursue communal, collaborative and social interactions with companies. They constantly reassess their priorities and the true value behind their intentions: Why own something that I have infrequent use for? Why accumulate possessions instead of experiences? Why earn a fixed salary when I can have various income options? Why work deskbound when I can work remotely?</p>

<p>&nbsp;</p><p>This shift in consumer’s attitudes is what research firm Euromonitor termed as “<a target="_blank" rel="noopener noreferrer" href="https://blog.euromonitor.com/the-new-consumerism-redefining-ownership-values-and-priorities"><span style="color:hsl(210, 75%, 60%);">new consumerism</span></a>”. And a big part of this new consumerism is very much about sharing, predominantly evident in the sharing economy and the gig economy.</p>

<h2>Owning Versus Sharing</h2><p>With traditional consumerism, an individual pays the full cost of a good or a service and owns the exclusive access to it. Sharing, on the other hand, allows multiple people access to a good or service simply by bearing its usage cost, without requiring the individuals to own it. Examples in the sharing economy include Airbnb, ride-sharing platforms and co-working spaces.</p><p>The concept of sharing permits consumers to consume what they need, while also allowing them to provide under utilized resources to others. This sustainable idea enables individuals to have a fair and equal opportunity to access resources, through sharing rather than ownership.</p><p>&nbsp;</p><h2>Talent Sharing In The Gig Economy</h2><p>What about human resources? Can these be shared?</p><p>If you haven’t already heard about the gig economy, or think that it mainly consists of on-demand delivery and transportation jobs, think again. The gig economy is rewriting the reality of the employment market, where individuals offer their skilled services on a part-time basis to companies. These individuals aren’t just your Uber or Grab driver, they also happen to be your highly-proficient employees who have now ditched desk bound jobs for remote working.</p><p>This group of gig professionals provide exceptional skills that companies are struggling to find on the shrinking traditional labor market. They can be specialists in their own fields, or the much sought-after hybrid specialists who command a wider range of skill sets than traditionally required in their role (e.g. digital marketers). They present an opportunity for companies to get expert human resources quickly amidst a talent-strapped labor market, in order to adapt to a fast changing consumer landscape.</p>

<p>&nbsp;</p><p>Today, as these white collar executives make the move from “employed professionals” to “entrepreneurial professionals” in the gig economy, they bring expertise and experiences that are shareable to just about any business in any industry.</p><p>&nbsp;</p><h2>Gigging For The Best</h2><p>The gig economy is fast gaining clout. Thanks to technological innovations and the Internet which has produced a mobile workforce that can work remotely anywhere.</p><p>Here are some reasons why companies are now looking for short-term expertise hire, and why workers are seeking varied work projects for better flexibility and experiences.</p><p>&nbsp;</p><h2>Benefits of the gig economy for companies:</h2><ul><li>Expert hiring on demand</li><li>Easy access to talents with complex or hybrid skill sets as technology continues to evolve and expectations of job requirements change accordingly</li><li>Ability to scale teams up and down quickly for specific projects</li><li>Save on recruitment/ hiring costs and employment benefits</li><li>Save on office space costs</li></ul><p>&nbsp;</p><h2>Benefits of the gig economy for workers:</h2><ul><li>Greater autonomy in choosing projects, and deciding when, where and how long to work</li><li>Remote working provides greater flexibility in time management</li><li>Independence in how they do their work. The worker is no longer tied to a particular work culture or schedule that may hinder work progress</li><li>Ability to contract their services out to more than one employer at a time</li><li>Working with multiple employers simultaneously allows the individual to expand their skill sets and get more varied experiences</li><li>Greater variety of job opportunities in different industries offers better exposure and &nbsp;keeps things interesting for the gig seeker</li><li>Lesser risk of job insecurity with multiple employers</li></ul><p>&nbsp;</p><p>Perhaps more than ever, sharing is becoming more significant than owning. The gig economy and its world of talent sharing have opened up new opportunities for both companies and gig seekers alike. Companies want an agile and scalable workforce to meet evolving consumer demands. Gig seekers want an alternative work environment with greater autonomy and more meaningful work. This collaboration of companies and talents may just be that winning formula to ride through today’s tough waters of uncertainty and redefine the future of work.</p>

<h4>References</h4><p>Marianna Sigala, <a target="_blank" rel="noopener noreferrer" href="https://theconversation.com/the-sharing-economy-simply-dresses-up-our-consumerist-tendencies-in-a-more-palatable-ideology-99090"><span style="color:hsl(210,75%,60%);">The ‘sharing economy’ simply dresses up our consumerist tendencies in a more palatable ideology</span></a>, <span style="color:hsl(0,0%,60%);">(28 Jan 2019)</span></p><p><a target="_blank" rel="noopener noreferrer" href="https://blog.euromonitor.com/the-new-consumerism-redefining-ownership-values-and-priorities/"><span style="color:hsl(210,75%,60%);">The New Consumerism: Redefining Ownership, Values and Priorities</span></a>, Euromonitor International, <span style="color:hsl(0,0%,60%);">(4 Apr 2016)</span></p><p>Mark Scott, <a target="_blank" rel="noopener noreferrer" href="https://swiftmoney.com/blog/what-you-need-to-know-about-consumerism"><span style="color:hsl(210,75%,60%);">What you need to know about consumerism</span></a>, Swift Money <span style="color:hsl(0,0%,60%);">(24 Apr 2017)</span></p><p>Judith Wallenstein, Alice de Chalendar, Martin Reeves, and Allison Bailey, <a target="_blank" rel="noopener noreferrer" href="https://www.bcg.com/en-sea/publications/2019/new-freelancers-tapping-talent-gig-economy"><span style="color:hsl(210,75%,60%);">The New Freelancers: Tapping Talents In The New Economy</span></a>, BCG Henderson Institute <span style="color:hsl(0,0%,60%);">(17 Jan 2019)</span></p><p>Robert Longley, <a target="_blank" rel="noopener noreferrer" href="https://www.thoughtco.com/gig-economy-4588490"><span style="color:hsl(210,75%,60%);">Gig economy: Definition and Pros and Cons</span></a>, ThoughtCo <span style="color:hsl(0,0%,60%);">(15 Mar 2019)</span></p>

“The consumer of today is shifting towards “The New Consumerism.”

“As professionals explore new labor platforms in search for flexibility and some form of entrepreneurship in an environment exacerbated by worldwide job insecurities, the corporate resource pool evidently shrinks.”

Consumerism has traditionally been all about ownership, and often in excess of one’s basic needs. Today’s consumerism is no longer about owning. Rather, it’s about sharing; and it looks set to redefine the future of work.

Today’s Consumerism Is No Longer About Ownership.

<h2>1. “Freelancers have no ownership.”</h2><p>Woah woah. This sentence can be a real blasphemy to freelancers. Contrary to belief, freelancers or independent professionals have probably more ownership than your average office worker. Think about it, freelancers spend time searching for multiple gigs, and the last thing they want to do is to burn any bridges (income) at all. Successful freelancers know that their reputations score them jobs, and because of that, they care about the results and the journey in achieving shared goals with their clients.</p><p>&nbsp;</p><h2>2. “Freelancing has no job security.”</h2><p>How do you measure your job security in your current employment? How many people you know personally have recently been retrenched? Covid-19 has brought down security walls and overthrown security blankets. There really isn’t any ‘safety net’ in being employed full-time. Seasoned freelancers can tell you that freelancing can bring you more security and possibly more income than your current career. It’s all up to you as an independent professional to put in the time and effort in building your clientele. And when you do, it is likely that you will create your own income ceiling and a sustainable business that will work for you.</p><p>&nbsp;</p><h2>3. “Only those in the creative field can probably freelance.”</h2><p>Have you heard of the gig economy? Gig seekers aren’t just your Grab and Uber drivers. Highly skilled freelancers with digital aptitude and expertise in diverse fields are offering their talents for projects that demand specific skills. They include UXUI designers, UX researchers, developers, app developers, copywriters, UX writers, business consultants and legal counsels. If you have a skill, you most certainly can freelance!<br>&nbsp;</p><h2>4. “Freelancers are the ‘in-between-jobs’ people.”</h2><p>Ditch the word ‘between’. The truth is that freelancers are the ‘in jobs’ people. As a freelancer, you can choose to work for multiple clients and multiple projects. Sure, projects do come and go, but if you work diligently at building a portfolio of clients and a reputation for yourself as a valuable talent, it makes it easier to keep the work coming. What will you choose? Being ‘in a job’ or being ‘in jobs’?</p><p>&nbsp;</p><h2>5. “Freelancers will not bother to engage with my team on a project.”</h2><p>Freelancers are mature professionals with solid work experiences and the confidence to step into the world of freelancing. Most of them have worked for reputable companies and they understand the importance of teamwork and team dynamics. They are conscious that they are hired as an extension of a team to fulfill important projects, and team engagement is key to a project’s success. It is also imperative that companies adopt an inclusive culture for the remote freelancer through group sessions, meetings and discussions. Utilise the experiences that freelancers have to offer, sometimes they might just give fresh perspectives or offer breakthroughs in a project.</p><p>&nbsp;</p><h2>6. “Freelancing is less stressful than a full-time job.”</h2><p>Hold your horses on this one. Working for oneself may come with perks, but freelancing can be stressful, especially if you are managing several projects, deadlines and dealing with multiple clients. While you may not have a ‘boss’ to report to, you will soon learn that you will have to work with groups of people with very specific ideas of how the project should be carried out. But if you thrive on challenges and manage your time and relationships well, then there will be little to stress over.</p><p>&nbsp;</p><h2>7. “Freelancers only work on small projects.”</h2><p>Ask any experienced freelancer, and you will learn that the projects that they have been brought on board to work on are neither miniscule nor unimportant. Freelancers are hired because of a variety of reasons: Lack of manpower, lack of expertise, lack of time. And whose shoes do you think are big enough to fit all these criteria? Certainly someone with the experience, expertise, dexterity and agility to move mountains.</p><p>&nbsp;</p><h2>8. “Freelancers are not as good.”</h2><p>Not as good as? Many have the impression that freelancers only do menial tasks, or that they only work a couple of hours a day, and thus are ‘not as good’. The fact is that freelancers have to hustle hard. They need to be on their toes and seek out opportunities, and when they land their gigs, they have to juggle multiple tasks and clients. Thus they need to quickly suss out what’s important and be as efficient as possible to meet deadlines (and expectations). They may not have an office presence, but they certainly don’t waste precious time in idle chit chat by the water cooler either.</p><p>&nbsp;</p><h2>9. “Freelancers are cheap. Else, you can always negotiate down their fees since they are working on the side.”</h2><p>It is no secret that the best freelancers charge top dollar. Why? Because they earned that right to. They are experts in their fields, productive, efficient and they’ve worked hard. They come well recommended from clients who have seen them at work and benefitted from their collaboration together. They have diverse experiences having worked with clients in various industries. They know that reputation is the key to success in this business, and you can be sure they will guard both their reputations and yours well.</p><p>As a good friend once used to tell me: “Cheap and Good cannot be Fast. Fast and Cheap cannot be Good. And finally, Good and Fast can never be Cheap!”</p><p>&nbsp;</p><h2>10. “Can you give a discount since you are a freelancer?”</h2><p>In order for both parties to win, a discount is the least powerful tool to negotiate a deal. If you’ve decided on a freelancer, it’s probably not because he offers the lowest rate, right? More likely, it’s because the freelancer has got a good track record, comes highly recommended, does great work and most of all, adds great value to your project. Enough said.</p>

Beliefs, like mindsets, can be hard to change. But some myths regarding freelancing are really so unreal that we just had to address them here. If you are still sitting on the fence on hiring freelancers or being a freelancer yourself, this article is for you.

10 Myths On Freelancing (Are You Even For Real?)

<h4>References</h4><p>Sebastien Floodpage, <a target="_blank" rel="noopener noreferrer" href="https://medium.com/@sebastien.floodpage/the-future-of-work-in-the-sharing-economy-utopia-or-dystopia-1e78d114120a"><span style="color:hsl(210,75%,60%);">The future of work in the sharing economy</span></a>, <span style="color:hsl(0, 0%, 60%);">(4 April 2018)</span></p><p>John Frazer, <a target="_blank" rel="noopener noreferrer" href="https://www.forbes.com/sites/johnfrazer1/2019/02/15/how-the-gig-economy-is-reshaping-careers-for-the-next-generation/"><span style="color:hsl(210,75%,60%);">How The Gig Economy Is Reshaping Careers For The Next Generation</span></a>, Forbes <span style="color:hsl(0, 0%, 60%);">(15 Feb 2019)</span></p><p>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/"><span style="color:hsl(210,75%,60%);">7 Job Skills Of The Future (That AIs And Robots Can't Do Better Than Humans</span></a>, Forbes <span style="color:hsl(0, 0%, 60%);">(8 Aug 2018)</span></p><p><a target="_blank" rel="noopener noreferrer" href="https://www.wgu.edu/blog/who-is-gen-z-how-they-impact-workplace1906.html"><span style="color:hsl(210,75%,60%);">Who is Gen Z and how will they impact the workplace?</span></a>, Western Governors University <span style="color:hsl(0, 0%, 60%);">(27 Jun 2019)</span></p><p>Kentaro Toyama, <a target="_blank" rel="noopener noreferrer" href="https://www.worldpoliticsreview.com/articles/28893/what-the-coronavirus-pandemic-means-for-the-sharing-economy-business-model"><span style="color:hsl(210,75%,60%);">The Sharing Economy Will Survive the Pandemic. Is That a Good Thing?</span></a>, World Politics Review <span style="color:hsl(0, 0%, 60%);">(7 July 2020)</span></p><p>André Gonçalves, <a target="_blank" rel="noopener noreferrer" href="https://youmatter.world/en/pros-cons-gig-economy-27964/"><span style="color:hsl(210,75%,60%);">What Are The Pros And Cons Of Working In The Gig Economy?</span></a>, You Matter <span style="color:hsl(0, 0%, 60%);">(1 May 2019)</span></p><p>Mastufa Ahmed, <a target="_blank" rel="noopener noreferrer" href="https://www.peoplemattersglobal.com/article/employee-relations/the-growing-gig-economy-is-great-news-for-businesses-24824"><span style="color:hsl(210,75%,60%);">'The growing gig economy is great news for businesses'</span></a>, People Matters, <span style="color:hsl(0, 0%, 60%);">(27 Feb 2020)</span></p><p>Forbes Coaches Council, <a target="_blank" rel="noopener noreferrer" href="https://www.forbes.com/sites/forbescoachescouncil/2019/12/13/12-ways-the-gig-economy-may-evolve-in-2020-and-how-it-will-impact-the-business-world/#7f3f7f15527f"><span style="color:hsl(210,75%,60%);">12 Ways The Gig Economy May Evolve In 2020 And How It Will Impact The Business World</span></a>, Forbes, <span style="color:hsl(0, 0%, 60%);">(13 Dec 2019)</span></p><p>Faiz Siddiqui, <a target="_blank" rel="noopener noreferrer" href="https://www.washingtonpost.com/technology/2020/05/18/uber-layoffs-3000/"><span style="color:hsl(210,75%,60%);">Uber lays off 3,000 more staffers, shutters dozens of offices</span></a>, Washington Post, <span style="color:hsl(0, 0%, 60%);">(19 May 2020)</span></p><p>Bill Vix, <a target="_blank" rel="noopener noreferrer" href="https://moneyinc.com/what-is-the-sharing-economy-and-how-will-it-affect-the-future/"><span style="color:hsl(210,75%,60%);">What is the Sharing Economy and How Will it Affect the Future?</span></a>, Money Inc</p>

<h2>Hiring in a Coronavirus Climate</h2><p>The rising global unemployment trend may have cast an initial gloom over the job market scene, including the gig economy. But not all industries have taken a downturn. The pharmaceutical industry is seeing companies buzzing to find a Covid-19 vaccine, and a global need for personal protective equipment and cleanliness products is keeping manufacturers in operation. Online grocery businesses, e-commerce, remote learning and home delivery services are thriving as a result of lockdowns and social distancing measures. On the bright side, some sectors are still actively hiring despite the pandemic, and a large number of them are looking for extra help in the form of gig workers on short term hire to meet growing demands.</p>

<h2>&nbsp;</h2><h2>Creating A Demand in The Gig Economy</h2><p>For many unskilled workers, the gig economy’s rosy appearance as an immediate and flexible way to earn income may entice many to rush into gig work, leading to an oversupply in the service-based gig market. As more workers fight for the same jobs, the increased competition will bring uncertainties in both income and gig-job stability. Workers may also incur greater expenses at their own costs (e.g. work supplies, medical, health insurance). Unless policies and laws are enacted to offer these workers with some form of protection, the service-based gig market will be perceived as one of worker exploitation, fraught with employee rights inequality.</p><p>While there is still a massive market for unskilled work today, this will gradually cease as our society gets supercharged by automation. As AI and machine learning take over mundane tasks, the jobs of the future will require skills that technology currently lacks. These skills include <a target="_blank" rel="noopener noreferrer" href="https://www.forbes.com/sites/bernardmarr/2018/08/06/7-job-skills-of-the-future-that-ais-and-robots-cant-do-better-than-humans/#8d4d3976c2e9"><span style="color:hsl(210,75%,60%);">creativity, critical and strategic thinking, empathy and communication</span></a>. Skilled professionals who possess such soft skills and those who seek life-long learning will create a demand for themselves.</p><p>&nbsp;</p><h2>Empowering The Gig Worker With A Growth Mindset</h2><p>To stand a better chance at re-entering the workforce as gig specialists, the present-day gig worker needs an upgrade. Learning new skills is a first step for gig participants to increase their income, as their earning potential is no longer pegged to a fixed salary; rather, it is limited to how much time they are willing to work and more importantly, how much value they can create. Broadly speaking, enabling gig employability includes a growth mindset in these areas:</p><ol><li>Upskill and build new competencies around and beyond their fields of expertise</li><li>Take on a variety of projects that will hone those skills</li><li>Build a strong personal brand and network to ensure job opportunities</li></ol><p>Picture this scenario: If there were two UXUI designers standing before a hirer - one who is a full time employee working on a project for 3 years; and the other, an independent professional who has accomplished 12 gigs across various industries with different companies. Who will have a higher chance of being hired? Gig workers must have a growth mindset in order to create value that will be appreciated by hirers.</p>

<h2>&nbsp;</h2><h2>Hiring With A Mindset Change</h2><p>The future work generation is evolving too. The next labour market drivers will be the <a target="_blank" rel="noopener noreferrer" href="https://www.peoplemattersglobal.com/article/employee-relations/the-growing-gig-economy-is-great-news-for-businesses-24824"><span style="color:hsl(210,75%,60%);">Millenials and Gen Z</span></a>. The new generation hardly subscribes to company loyalty and they debunk the idea of a 40-hour work week. Instead, they want to create meaningful work that contributes to society and have a desire for personalizing their own experiences. They are the <a target="_blank" rel="noopener noreferrer" href="https://www.wgu.edu/blog/who-is-gen-z-how-they-impact-workplace1906.html"><span style="color:hsl(210,75%,60%);">“side hustle” generation</span></a>.</p>

<p>&nbsp;</p><p>The reality is that an abundance of skilled talents now lie outside of their work environment in the gig economy, with a preference to work on short term contracts.</p><p>The gig economy certainly looks poised to create more job opportunities, but this requires a paradigm shift in the way hirers view gig talents.</p><p>And in order for the gig economy to realise its full potential and create more job opportunities, perhaps businesses need to customize flexible job roles with ‘pay it forward’ elements that align with the new gig generation’s higher purpose.</p>

“As the gig economy continues to burgeon due to greater demand and technological advances, creating new job opportunities lie in mindset shifts for both gig participants and companies alike.”

“For the gig seeker, the future of work in the gig economy boils down to one thing - having a growth mindset.”

“In the next decades, forward-thinking businesses need to adopt a mindset shift in hiring.”

Technological advances and changing consumer behaviour have contributed to the rise of the gig economy. Will the gig economy continue to grow? More importantly, can the gig economy create more jobs in a time of uncertainty?