Gig Economy Market Report 2023, Amazon’s “Voluntary Resignation” Program for Remote Workers, the Knowledge Economy Is Dead, and More...

Approximately 60 million independent workers in the United States represent $1.5 trillion in U.S. GDP and growing. Projections estimate that 50% of our U.S. workforce will be independent workers by 2025- 2030. The Gig Economy represents a trend that will digitally transform the future of work.

Every?organization?in?every industry?needs a Gig Economy strategy. Not having one is like missing the internet trend in 1990 or the mobile revolution in 2010.

?The Freelance Revolution

The Industrial Revolution of our time is the rise of independent contractors and the globalization of knowledge work. We can see the U.S. workforce undergoing a massive structural change everywhere we look.

How a millennial who quit her job rather than return to in-person work ended up thriving as a freelancer ?- Rachel Dunlop, a freelance copywriter based in Toronto, made a successful career switch during the pandemic and didn't plan to return to the traditional 9-to-5 office grind. After getting hints of an imminent return to the office at her previous full-time job, she decided to pursue freelance work on Fiverr. Embracing the flexibility of freelancing, Dunlop enjoys working from home, setting her schedule, and collaborating with clients from various fields, earning more than her previous job.

The rise of gig workers is changing the face of the U.S. economy ?- The growing impact of gig workers in the United States, especially in the gig economy facilitated by platforms like Uber, DoorDash, and Instacart, is evident. Although government data on gig workers is elusive, the number of gig workers is believed to be increasing, and they significantly influence the economy. The rise of gig workers may distort economic data, including keeping the national unemployment rate lower and helping people avoid bankruptcies, as they provide an alternative income source during uncertain times. However, the need for quality data on gig workers poses challenges for policymakers and the Federal Reserve in accurately understanding and regulating this workforce segment.

Gig Economy Market Share Size 2023: Top Players, Market Share, Future Growth by 2029 | Freelancer.com, Upwork, Etsy ?- The New Report By Precision Reports Titled, 'Global "Gig Economy Market" Size, Share, Price, Trends,Report and Forecast 2023-2029', gives an in-depth analysis of the global Gig Economy market, assessing the market based on its segments like fraction, application, end-user, and major regions. The Gig Economy Market Report Contains 99 pages, Including Full TOC, Tables and Figures, and Chart with In-depth Analysis Pre and Post COVID-19 Market Outbreak Impact Analysis and Situation by Region.

The Gig Economy and Retirement: How to Secure Your Future ?- The "gig economy" concept involves freelancers and independent contractors taking short-term or temporary positions with greater flexibility but less job security compared to traditional full-time employees. It addresses the challenges gig workers face in retirement savings due to the lack of company-sponsored retirement plans. The article delves into retirement savings options for gig workers, such as Solo 401(k), Simplified Employee Pension (SEP), and Defined Benefit Plan, along with providing tips on securing retirement through budgeting, setting concrete savings goals, and automating savings contributions.

A.I. Meets Talent: The Age of Generative AI

With the "Big Bang" moment in November 2022, OpenAI's ChatGPT launched, ushering in a new era of generative A.I., accelerating the fusion of Technology and talent, and presenting challenges and opportunities for individuals and businesses alike.

The knowledge economy is dead. Long live the intuition economy ?- The current excitement and apprehension surrounding artificial intelligence (A.I.) are evident. Some express concerns about potential risks, but the author emphasizes the need for a rational examination of A.I.'s impact. The concept of an "intuition economy" is suggested, where human creativity is valued highly, and A.I. is a tool to access vast knowledge. The article highlights that adaptability to A.I.'s changes will lead to success for companies and individuals. A.I.'s unstoppable progress makes it essential to ask the right questions and prepare for the AI-driven future.

I lost my job to ChatGPT and was made obsolete. I was out of work for 3 months before taking a new job passing out samples at grocery stores. ?- The author, Emily Hanley, shares her personal experience of losing her job as a freelance copywriter due to the increasing use of A.I., specifically ChatGPT, in the field of copywriting. As clients opted to use AI-driven tools, Hanley's work opportunities dwindled, leading her to seek alternative employment. The article highlights the impact of A.I. on creative professions and the broader implications of automation technology on job losses across various industries.

500 ChatGPT plugins tested here are some of the best? - A selection of the best ChatGPT plugins enhances the power and versatility of the A.I. language model. These plugins offer functionalities, such as refining prompts for better interaction, simplifying restaurant reservations, providing business-ready prompts, offering stock market insights, enabling visual learning through diagrams, and assisting with job hunting based on A.I. suggestions. They exemplify how A.I. can effectively streamline tasks and applications, showcasing its potential to simplify everyday activities and boost productivity.

ChatGPT creator says A.I. advocates are fooling themselves if they think the Technology is only going to be good for workers: 'Jobs are definitely going to go away' ?- The rise of generative A.I. technology, like ChatGPT, is expected to boost productivity for many workers, but it could also lead to job displacement for some Americans. OpenAI CEO, Sam Altman, acknowledges that A.I. development will definitely affect jobs, despite the optimistic belief that A.I. will only positively impact workers. While new jobs may be created, there are concerns about displaced workers struggling to navigate these new opportunities, potentially leading to challenges in adapting to technological change.

The Changing Workplace

We see unprecedented numbers of companies implementing remote work programs. How we work has forever changed and requires new skills and leadership approaches.

Remote workers have a message for spying bosses: That won't work, and neither will we ?- A not-so-shocking development: Workers don't enjoy being spied on electronically any more than they'd like their boss physically hovering over their cubicle. Not only does monitoring sow distrust, resentment, and paranoia, but it also worsens a company's work product—the antithesis of monitoring software in the first place.

CEO shares the 2 strategies he uses to prevent a toxic workplace: Embracing 'honest feedback' and 'celebrating failure' ?- Rick Nucci, CEO and co-founder of Guru realized that his communication style was detrimental to the company. Wanting to keep morale high, he refrained from giving honest feedback and focused on praising successes, creating a "cheer pressure" atmosphere. After learning about "radical candor," Nucci adopted the practice of offering honest feedback, even if it may sting, to help employees improve and avoid "ruinous empathy." Additionally, Guru now encourages the celebration of failures as learning opportunities, fostering a culture of open communication and growth within the company.

Leaked guidelines reveal more details about Amazon's controversial 'voluntary resignation' program for remote workers ?- Amazon has introduced a controversial "return-to-hub" policy, forcing employees to work from centrally assigned office locations called hubs. Those unwilling to relocate can seek special approval, find a new team accommodating their needs, or face a "voluntary resignation" without severance. The policy aims to encourage more in-person work, and guidelines anticipate resistance from employees, advising managers to approach conversations with empathy, share options clearly, and maintain confidentiality regarding individual situations.

Embracing the age of personal agency: Unlocking the power of the Great Realization ?- The concept of "agency" in social science pertains to an individual's ability to take control of their destiny and career path. The Great Realization has brought about a shift in the balance of power in the workforce, with an increasing number of individuals seeking better work-life balance and the opportunity to pursue their passions as independent professionals. Consequently, companies are now urged to incorporate agency into their talent programs to attract and retain high-value employees and independent contractors, ultimately shaping a new work and worker experience for the future of work.

PAUL ESTES has been at the cutting edge of Technology for over 20 years with leadership roles at Dell, Amazon, Microsoft, MURAL, MagicLeap, and Ally Robotics. He struggled to balance his life with these fast-moving leadership roles, so he hired his first virtual assistant, transforming how he lived and worked. He shares his experience in his best-selling book?Gig Mindset ?which helps people and organizations understand that now is the time to address systemic?location bias ?and encourage companies to reach beyond their organizational boundaries to engage the world's best minds.??

He is inspired by the work of the late?Leila Janah , author of?Give Work: Reversing Poverty One Job ?at a Time, and her quote, "Talent is equally distributed, opportunity is not." This inspiration inspired Paul to lead a team of progressive H.R., procurement, and legal trailblazers to launch Microsoft's Gig Economy freelance program.??

Paul is the former host of the?Work on Demand Podcast . Each week, Paul provides insights and perspective to over 100,000 readers of his weekly LinkedIn newsletter, and he frequently shares his insights as a keynote speaker and panelist.