Publisher . Jackie Menne
Back to the Future
The Industrial Revolution moved much of the workforce from self employment to structured payroll jobs. Now the digital revolution may be creating a shift in the opposite direction.
By 2020 estimates are that 50%of the workforce will be micros.
One study done back in 2015 already has us there.
Lifetime employment at one company is largely a relic of the past, putting the onus on individuals to map out their own career trajectories, looking for their own business opportunities and taking charge of developing their own skills along the way. Independent and traditional workers alike would be well served by developing differentiated skills and services to avoid becoming part of a low-wage generalist pool. In addition, each independent worker has to operate like a self-contained small business. This demands administrative skill and foresight to prepare for peaks and valleys in earnings, to perform all tax and legal compliance, and to manage their own retirement savings.