´´As humans, we've kind of gone through this functional period where you get up at 8, you go home at 5, you clock in - the whole manufacturing piece of society…. And today there is a lot more freedom and flexibility. So the internet has revolutionised… In terms of rapid-paced technology you can be anywhere, anytime, any place and do your work or a very big sector of the market. ‘’ - Indiana Gregg
Once a freelancer, always a freelancer
The post-pandemic labor market is undergoing one of the most profound changes in the last couple of decades. Many of the behaviors born during Covid have either reverted back or evolved but there has been a lasting impact nonetheless. While freelancing and independent work was already growing popular prior to the world health crisis, it is fair to say that the pandemic has fundamentally sped up the process to accelerate both the creator and the freelance economies.
According to McKinsey's research on the future of work, 36% of Americans identify themselves as independent workers. Different sectors such as businesses, NGOs as well as governments greatly benefit from this tendency. They can increase their workforce during times of higher demand, such as Black Friday or holidays. Later, they could switch back to a smaller core team when workloads return to normal.
Another advantage is the value of professional assistance in case of special circumstances. Smaller businesses may occasionally require specialised assistance, such as marketing or graphic design professionals to help with a product launch, social media, and etc., except they might not be in a position to have those individuals employed full-time. The cost and difficulty of launching a firm are both significantly reduced by the availability of freelance labour.
On a more personal level, flexibility and freedom provide a greater sense of independence and satisfaction from their work. We believe this is largely driven by a few factors. First, with freelancing, you could be your own maverick. We believe it gives freelancers the opportunity to choose and build their own unique work environment designed for their optimal performance. Secondly, the freelancer is positioned to take bigger chances and bet on things that they may not have otherwise. Lastly, it gives the independent freelancer an opportunity to fully realized their broader work-life balance and aspirations too.
Seismic power of workplace flexibility
Workplace flexibility has become a focal point of today’s workforce. At Triple G Ventures, we believe that modern workplaces came to the realization that people are most fulfilled and productive when they have a proper and fulfilling sense of work/life balance. The practice of providing employees with the flexibility to pick the day, time, and place of their work in order to better match organizational objectives with personal ones encourages the advancement of human capital in a broader way.
Additionally, flexibility boosts productivity and increases workplace performance. Workplace flexibility requires businesses to show greater consideration for their staff and acknowledge their busy lives outside of the office. Of course, workplace flexibility also places additional personal responsibility and pressure on the employee to perform at a higher level. Ultimately, it all boils down to open communication, transparency and clarity around what is required by both parties but workplace flexibility is a tool that can be used to allow both employers and employees to balance the demands of their work output and performance with their personal and professional life.
Attitude and the right mindset are essential ingredients in achieving workplace flexibility and success. To accomplish it, employees need to collectively uphold the company’s strategy, objectives, mission and values while feeling satisfied with getting things done.
Workplace flexibility, as a concept, might include different strategies. For example, it is possible to have varied levels of flexibility in place, one that offers part-time work of even up to some specific FTE value. Another is flexibility in schedules when it is crucial to work assigned hours but it is flexible when you are going to fulfil them during the day.
Also, flexibility could be implemented in terms of the physical workplace, remote and hybrid work as well as working from hubs, specifically created by companies for their staff. There is indeed a plethora of possibilities in this regard and as the business world is changing in full swing workplace flexibility also becomes a sort of modern benchmark for companies to measure the wellbeing of their own employees.
Increased role of societal changes in shaping the Future of Work
Rising impact of societal changes on the business world is yet another soaring trend. Technological developments lead today’s social changes to the extent that was unknown before.
There are numerous social contexts that require the use of technology and innovation, whereas the most cutting-edge technology was once found in the offices. The working class remained to be the main driver of technology far into the 20th century thanks to the industrial revolution. Society ''experienced and saw'' technology at work in the form of manufacturing and fax machines. For example, it used to be unthinkable to imagine having access to all the knowledge in the world at our fingertips but nowadays it is our new normal.
Furthermore, increased societal shift towards developing life-long skills and education could be a contributing factor in the process. The knowledge is not managed and transferred the way it was done beforehand. It became a non-stop process where it is crucial to gain transferable skills that will be beneficial across different sectors and businesses at the same time. Not least of all, it is worth remembering that social transformation concerns multiple actors simultaneously - people, technologies and type of work we do, therefore it is critical to reflect on the main drivers of the Future of Work and find the best ways forward for successful businesses and happier employees.
Want to hear more about it? Check out our recent episode of ‘’Success at Scale’’ on Social Revolution and the Future of Work with Indiana Gregg, Founder & CEO of Wedo. Indiana is a real superstar with a real superpower! Her energy, passion, and wit bring both challenge and inspiration to the listeners while walking them through the topics of women in tech, music, accessibility, future of work and the ever-evolving business world we live in.