Startup With No Employees, Who Does Moonlighting Hurt, Is Quiet Quitting Real 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.

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

How to Build a Successful Start-Up Without a Single Employee?-?The number of tech vacancies in the U.K. is now 41% higher than pre-pandemic levels — and rising rapidly.?Tech roles make up some 13% of all vacancies in the UK.?And salaries are growing too: the average tech salary is now 50% higher than the average across all roles. This means that tech companies are struggling to find the right talent. And, with so much opportunity out there, businesses have to do more to retain great employees too.

Freelance, side hustles, and gigs: Many more Americans have become independent workers?- In the working world, a full-time job with one employer has been considered the norm for decades. Still, this model fails to describe how a significant share of the U.S. workforce makes a living. In the latest iteration of McKinsey's?American Opportunity Survey (AOS), 36 percent of employed respondents—equivalent to 58 million Americans when extrapolated from the representative sample—identify as independent workers. This figure represents a notable increase since we estimated the?U.S. independent workforce in 2016?at 27 percent of the employed population.

Deliveroo gears up for Supreme Court challenge over workers' rights?-?A gig economy union is readying to take Deliveroo to the Supreme Court, following its partnership deal with another union. The Independent Workers Union of Great Britain (IWGB) said it is set to challenge Deliveroo in the Supreme Court, alleging a denial of collective bargaining rights. In May, the union received criticism from workers after announcing it was forging a "first of its kind" union recognition deal with the GMB union, which has not traditionally been associated with the gig economy.

FTC promises crackdown on companies taking advantage of gig workers?-?In a?17-page policy statement?released Thursday, the FTC highlighted multiple challenges facing gig workers, including deception about pay and hours, unfair contract terms, and anticompetitive wage fixing and coordination between gig companies.

Hyer's Midyear Survey Reveals Why Workers are Gravitating Towards the Gig Economy?-?Hyer, a leading on-demand labor app powering the gig economy, announced findings from their 2022 midyear survey, "A Glimpse into the Gig Economy." Surveying over 1,000 gig workers who have turned to Hyer for gig work, the survey sought to understand their views on the current labor landscape, the impact inflation is having on them, and their overall outlook on the gig economy.

The Creator Economy?

The Creator Economy is like the sharing and gig economies in 2012-2015 that ushered in an explosion of creativity driven by individuals, technology platforms, and hype. All are guided by the dream of making a living by doing what you love. At over $100B+, the creator economy is just getting started.

The AI (R)evolution - In this issue, you will learn everything you need to know to get started with Prompting. Some creators are starting to make money selling their best prompts,Will it be a new sustainable income stream for AI artists? P

Castaway: Surviving the high seas of the creator economy?- There are, without a doubt, moments that leave an indelible mark on every generation. And these are the instances that give it shape and a definition for the coming generation to remember it. The 70s had Woodstock, Beatlemania, and the moon landing as watershed movements. My generation has the internet, social media, and the birth of celebrity culture.

Creator Economy Grew by 119% in Last Two Years: Report?-?In a?study?published this week,?Adobe?revealed that creators make up 23% of people globally, meaning nearly one in four individuals are contributing to art and creativity. Adobe's research defines a creator as an adult over 18 who either participates in creative activities, such as photography or NFT creation and posts and promotes their work online. They are also dedicated to creating content at least monthly to grow their social presence.

Pietra Keeps the Creator Economy Supplied with Merchandise?-?First came the creators. Then came the merchandise. Many prominent social media personalities profit from their platforms, and one way they do this is by selling products associated with their brands. For example, YouTuber?MrBeast?(103 million subscribers) released a line of?chocolate bars. TikTok star?Charli D'Amelio?(145.4M) sells enough unique?clothing?that someone could wear a different outfit every day for two months. Even?Jonathan Graziano?(4.5M)—the owner of Noodle, TikTok's favorite pug who refuses to stand up most mornings—released Noodle-inspired?merchandise, including t-shirts, pillows, and a children's book called?Noodle and the No Bones Day.??

The Changing Workplace

We see unprecedented numbers of companies implementing remote work programs. The way we work has forever changed and will require new skills and leadership approaches.

The dream of flexible capitalism became a nightmare for many workers – but there is a path back to the sweet spot?- Fifteen, 20 years ago, the drift, at least culturally, seemed undeniable and unavoidable. Full-time permanent work was on the way out; instead, we would all be the boss of Me Inc.

Whom does moonlighting hurt, how and what to do about it??- First, Wipro Chairman Azim Premji called moonlighting 'cheating' after food delivery platform Swiggy allowed its employees to have side gigs. Later, IT company Infosys issued a rather stern warning to its employees, stating that they could face disciplinary action if found moonlighting, including?termination of employment.

Why Leaders Can't Ignore the Human Energy Crisis?- Since the World Health Organization?categorized burnout as an "occupational phenomenon" in 2019, it's only become more widespread and exacerbated thanks to the realities of the last few years.

It's White-Collar Jobs That Are at Risk in the Next Recession?- Since the mass layoffs early in the pandemic, U.S. businesses have been adding workers rapidly. Now they're slowing down, pulling job listings, and scaling back hiring plans as the Federal Reserve aggressively raises interest rates to fight inflation.

Wellness?

We will spend one-third of our lives working, and the disruption to the way we work has never moved faster. This can impact our overall wellness as we navigate the changing landscape and fight for balance.

?Is Quiet Quitting Real??-?"Quiet quitters" make up at least 50% of the U.S. workforce -- probably more, Gallup finds. The trend toward quiet quitting -- the idea spreading virally on social media that millions of people are not going above and beyond at work and just meeting their job description -- could get worse. This is a problem because most jobs today require extra effort to collaborate with coworkers and meet customer needs.

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PAUL ESTES, founder of?XpertLinkAI?and the best-selling author of the best-selling book?Gig Mindset, is an unstoppable advocate for the simple idea of ensuring that all voices are heard and that all people have access to opportunity. This passion is inspired by the quote from the late?Leila Janah?"Talent?is equally distributed,?opportunity is not."?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.?For 20 years, He struggled to balance his life with fast-moving leadership roles at Dell, Amazon, and Microsoft. Heled a team of progressive H.R., procurement, and legal trailblazers to launch Microsoft's Gig Economy freelance program. Hiring his first virtual assistant transformed the way he lived and worked.

Paul is the former host of the Gig Mindset and Talent Economy podcasts. 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.?