Freelancing

Will On-Demand Talent Be The Next Work Revolution? 3 Tips For Building A Freelance Talent Strategy – Forbes

Summary

Businesses that adopt an on-demand approach to talent will become more agile, innovative and … [+] productive.

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The remote work revolution is already over—hybrid has won—but another major shift could be coming.

The number of platforms for highly skilled freelancers increased over 300% since 2009, giving rise to new theories on how organizations of the future will use and manage talent.

The latest theories posit that o…….

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Businesses that adopt an on-demand approach to talent will become more agile, innovative and … [+] productive.

getty

The remote work revolution is already over—hybrid has won—but another major shift could be coming.

The number of platforms for highly skilled freelancers increased over 300% since 2009, giving rise to new theories on how organizations of the future will use and manage talent.

The latest theories posit that organizations will have a completely different talent mindset, shifting from headcount to on-demand talent, from talent acquisition to talent access.

What does this look like? According to a recent Harvard Business School study, many leaders believe their organizations will be operating with a smaller team of full-time employees, supported by a growing ecosystem of highly integrated on-demand talent made up of freelancers and outsourced partner/vendor firms.

Benefits Of An On-Demand Talent Strategy

Businesses that adopt an on-demand approach to talent will become more agile, innovative and productive while simultaneously unlocking a larger universe of minds working in their unique problems. They’ll also be less prone to chronic problems such as headcount creep, the global shortage of talent and what the World Economic Forum refers to as a “reskilling emergency” as jobs are rapidly transformed by technology.

An on-demand approach to talent is also key for businesses wanting to transform into Exponential Organizations, defined by Salim Ismail, Yahoo’s former head of innovation, as disruptive companies with huge impacts. Exponential Organizations (ExOs) scale at the same exponential rate of technology because they harness the power of new organizational techniques and new technology.

In Ismail’s book, Exponential Organizations, he says, “For any ExO, having Staff on Demand is a necessary characteristic for speed, functionality and flexibility in a fast-changing world … For any company today, having a permanent, full-time workforce is fraught with growing peril as employees fail to keep their skills up to date.”

Workers Choose Freelancing for Freedom, Project Diversity

This growing reliance on freelance talent won’t just come about because it benefits businesses. It’s also increasingly what workers want, too.

Data from MBO Partners says that nontraditional employment reached 51 million this year, a 34% increase from 2020. Another study from Upwork revealed that 20% of U.S. workers are considering freelancing as their future career. By one estimate, the number of U.S. freelancers will reach 86.5 million—just over half of the U.S. workforce—by 2027.

“Our research shows there are a couple of reasons freelancing is an attractive option,” says Tim Sanders, vice president of customer insights at Upwork. “Younger employees like the diversity of work and the idea of writing their own paycheck. Older workers like the income portfolio diversity as a hedge against recessions, layoffs, a company …….

Source: https://www.forbes.com/sites/larryenglish/2021/10/19/will-on-demand-talent-be-the-next-work-revolution-3-tips-for-building-a-freelance-talent-strategy/