The advent of technology allowing connections to anywhere at anytime has had a significant impact on how we work. Many people are no longer content to tie themselves to one employer and prefer to sell their skills in the global marketplace to buyers with whom they perceive a connection or to those whose requirements match their skills.
(image credit: Escape from Cubicle Nation)
The future workforce is made up of millennials. Unlike their predecessors, they are much less likely to stay in work full time and more likely look for multiple sources of growth, stimulation and opportunity. Trends assessed by the US Government Accountability Office suggest that in developed economies, freelance, temporary and contract employees make up about ⅓ of the workforce. Mercer completed a study that showed Millennials prioritized having a flexible work schedule and having the opportunity to make a difference when it came to employment. Similarly in a recent survey by Ogilvy and Mather, 76% of respondents reported that they would rather spend more time with their families than make more money. In the Middle East, Millennials employment aspirations are captured in the Asda’a Burson Marsteller Youth report, which shows that respondents prioritized a good work-life balance ahead of salary concerns.
Is a freelancer right for your business?
Traditionally, business success depended on a top down method of managing staff and work. Some firms however have changed that and adopted a Results Oriented Work Environment, meaning the location and hours worked are less important than the final output. Work is done anytime and anywhere, based entirely on individual needs and preferences. This method of working is a perfect fit for Millennials who do not necessarily associate success with longevity at one firm only. The career path for younger generations more closely resembles a patchwork quilt, as people attempt to stitch together multiple jobs into something that is flexible and works for them.
In her book “Escape from Cubicle Nation” author Pamela Slim argues that the new norm is for people to maintain and develop skill sets in multiple simultaneous careers. In this environment, the ability to learn is something of a survival skill. Education never stops, and the line between working and learning becomes increasingly blurred. Millennials are more aware than ever how the local, and indeed global economy affects their work options. The Arab Youth Survey showed that people prioritized the UAE as an ideal place to work. As potential supply increases, the Middle East employer is therefore faced with a unique advantage, the costs of human capital may decrease, but the ability to utilize dynamic resourcing by tapping into many people simultaneously can be done with only a slight increase in operational cost.
Many Middle East employers are still in a cautious hiring mode. The highest growth shown on employment indices are in the Hospitality, Healthcare and Engineering industries, buoyed by the backing of the public sector and the stated aims of governments to reach 2020 goals including sporting events, expo’s, and increased tourism. For the private sector, there has been a year on year drop however for full time jobs in the marketing and creative industries (-7%), the software and telecom sector (-17%), and IT field (-12%). (Monster Employment Index).
This lack of demand for full time employment has surfaced in increased demand in the freelance field. Nabbesh.com Q1 data on what employers want shows the top 10 job posts as being in the software, marketing and design and creative sectors. Creative skills are the most sought after, representing 59% of the total, Software taking up almost one third and Marketing being 10%.
Our recommendations are that HR professionals must consider using freelancers as a way to contribute to the sustained competitiveness of the firm. For smaller firms that need to grow quickly and efficiently, the majority of budget is spent on acquiring customers, leaving little for human capital. Freelancers can solve this problem by offering the right skill to the business at the right time at the right price.
To access the largest pool of freelancers, visit www.nabbesh.com today and browse over 15,000 people with over 20,000 registered skills.