In every aspect of our lives, new technologies are being presented to us on a daily basis. Often these new advancements in life are referred to as disruptive technology because they can help transform our lives, transform the way we run our daily business and in some cases, transform the global economy.
Online talent platforms like Freelancer, TaskRabbit and Angie’s List and even companies like LinkedIn are assisting employers and employees to connect with each other faster and more efficiently than ever before. These companies are helping enable the unemployed to get back into the workforce. On Demand work platforms use technology to connect employers with workers instantly and efficiently. According to the McKinsey Global Institute, the increase in numbers of these online talent platforms could add $2.7 trillion to the global economy by 2025. Countries where unemployment and part-time workers combined are between 30% and 40% allow these platforms to really thrive.
The benefits flow in both directions for employees and employers. Companies can benefit from online talent platforms because they enable the organization to efficiently and effectively source new talent. Workers on the other hand benefit because these work platforms offer flexibility in the workplace. Many On Demand workers will be employed by multiple organizations which allows them to be in control of their work and also helps to keep them interested in learning new skills. Some onlookers have suggested that as independent contractors, they can be poorly paid but the theory behind the On Demand workforce is that the employee can simply move onto the next employer if the working conditions are not satisfactory. For many, the On Demand workforce is a foreign concept as it is still in its infancy. Most companies and organizations are still geared to full-time employees. However, to keep competitive in the marketplace, it is in the best interest of the company or organization to think outside of the box when it comes to how they organize their workers and work processes.
The slow reaction from organizations towards the On Demand community is primarily due to a lack of data from governments. Governments should be gaining updated data to better understand how this On Demand economy is currently unfolding. The world as we know it is changing and the ripple effect is still to be measured. As people and companies shift towards an On Demand economy, traditional work hours disappear, the geographic ties will be broken; meaning that urban sprawl and living choices will change. As a result, so will traffic patterns, infrastructure and ultimately political make up. Where this ends who knows…we are only at the beginning.