34% (53 Million) of the American workforce comprises freelancers, of these (27%) moonlight, i.e. they hold a traditional day job and work on independent projects in their spare time. The number of freelancers in America is expected to reach 50% by 2020.
In the European Union (EU) too, the number of freelancers has grown by 45% from 2004 TO 2013
Fortune 100 companies have more than doubled their freelance arrangements in the last five years.
This trend is no longer restricted to the developed world, it is spreading globally in companies that deal with the knowledge worker, such as the IT/Marketing/Project Management professionals, to name a few.
In the next fifteen years or so, the conventional day job may well become extinct. A few admin and manufacturing “jobs” may remain but most will turn into project and assignment- based contracts. I hazard a guess that between 90 to 95 % jobs will become freelance, time-bound assignments. There will be like an ‘electronic employment exchange’ where one will be registered and will have to market oneself to find new assignments. Such platforms have already mushroomed in the last five years, in the software coding domain, where RFPs (Request for Proposal) are floated and coders bid from all around the globe. These coders are rated on their deliverables, making it easy for prospective companies to choose from. Marketing bloggers too have created similar platforms.
New labour laws, insurance coverage regulations etc. need to be created. Governments will have to devise new tax rules for payments emerging from foreign countries etc. Multiple platforms for task and competence matching need to be created.
Technology platforms to manage freelance human capital (communication, compensation, API development for work integration, ratings, background checks and performance measurement) will be needed.
So brace yourself for a ‘JOBLESS’ world