Human Capital Trends: The labour “gigruption”

I share with you some trends analysis about the “future work” that is coming or already disrupting the way we do things. This is the fist entrance of a series of two trend cards analysis about the future of work.

The labour market is changing from life-long careers to a flexible, yet unstable, “gig economy” creating a need for new global regulations and labour union services to help ensure and improve the rights of workers. This is a critical trend to consider and it will be shaping the future of work.

The global economy and increased competition are driving companies towards a more flexible and cost-efficient workforce. Instead of permanent positions, people are hired to do work on an as-needed basis leaving many workers looking for parallel jobs in order to make a living. This is creating what is referred to as the “gig economy.”

“Gigs” come with a risk: They often lack the equal opportunity to influence the working conditions; hinder the workers ability to build in-depth competence; have negative financial impacts (e.g pension and social security), and challenge personal motivation.

As new labour models are emerging, a disruption can be seen in the actual market. This poses a challenge to public policymakers who must rethink the labour regulation to ensure social rights for all people.

For gig workers, a renewed labour union and supporting services are needed.

Some of the manifestation of this trend are:

  1. Life inside the new gig economy-different perspectives (The Guardian 29.11.2015, http://www.theguardian.com).
  2. The shift from traditional contracts to contingent has been fast in the US in terms of new jobs. (Friedman, G. in Dollars and Sense, March/April 2014).
  3. The reason why you should use Fiverr at Forbes “Fiverr is the world’s largest marketplace for creative and professional services” (Forbes 6.4.2016 http://www.forbes.com).
  4. New era in working time measurement, Finnish Business School Graduates, 14.4.2016 https://www.ekonomit.fi/tiedotteet)

This trend analysis about future labour market was done by Jenni Julia, Katja Kaihua and me for Future Thinking topic at the MBA of Service Design and Innovation at Laurea University.

You can find out more information about this labour market disruption on Trends Global Human Capital Trends 2016 at Deloitte University Press.