what’s the secret sauce in a sharing economy?

Category: Portfolio

Interesting employment trends develop when technological disruptions set in, right from the times of the industrial revolution to the sharing economy of today. As peer-economy technologies gain traction; a projected 20x growth in the 5 main sharing economy sectors (music and video sharing, ride sharing, shared accommodation, peer to peer funding and online staffing), this trend seems here to stay! We are seeing innovations in the way people choose to work and find work as well as in ways companies find and groom talent.  An early example of an online marketplace for work, Amazon’s Mechanical Turk, showed how easy it was to scale organization’s workforce on-demand. India’s sharing economy player FlexingIt launched this concept to cover management, analytics and finance domains apart from tech and creative jobs. Leading organizations are using services like FlexingIt and Freelancer to build global and right skilled teams for short term projects.

Collaborative consumption is changing mindsets – we are prioritizing experiences over ownership, choosing to share with a growing community over purchasing solely for personal use. This mindset extends to the employment space with more whenever and wherever workers prioritizing flexibility, autonomy and mastery over job security. Some young employees are choosing to exercise their freedom by becoming well-rounded masters of many trades, passions and pursuits while others are choosing to dive into niche skills needed simultaneously by many employers. Experienced employees are quitting long-held jobs to offer their time as consultants in the freelance world where they get to choose their clients, their schedules and locations. The sharing economy is providing easier means for skill development and continuing education.  Ecosystems such as Edureka and Simplilearn benefit both organizations and employees, making up-leveling accessible while removing barriers for companies to build immersive learning and development programs.

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