This week, I found myself wondering about what work will be like in 20 years. The tech industry is a leading example of what millennials want out of their jobs and the government will ultimately have to play in this new labor paradigm.
I previously wrote about how everything is being uberized and jobs don’t fall short either. I see jobs becoming easy, fast and reliable just like grocery shopping, home cleaning, legal advice – all offering on demand service.
Uber is at a $62.5 billion valuation, just more proof that this new economy model isn’t going anywhere any time soon. However, there is concern about the rights of the people delivering these services and how the government should be protecting them. This has all reminded me of Metallica vs. Napster.
Once the music industry adapted to the delivery model users organically migrated to, the battle winded down. The industry needed an easier and faster option to survive and that is exactly what is going on now. We are turning to a model of decentralized, independent, self-managing labor and it won’t be long until the government adapts just like the music industry did.
Companies are spending millions of dollars to figure out ways to hold onto their millennial employees who just want to be challenged and in movement. The big focus point is that millennials value experiences over owning things, which translates into every aspect of their lives. I believe that you need to offer self-management and independence to millennials because that is the ultimate benefit in their eyes.
Freelancers have been around for a long time, but by their 30s they are sucked into full time employment by the security and stability. They are forced to live a life that they don’t want because of healthcare and retirement. I think that it is possible to make changes that will allow freelancers to work how they want to and have a peace of mind.
These dependencies are only working now for companies trying to hold on to the old paradigm. However, with the on-demand work model picking up, the government is going to have to come up with better ways to include these workers. I think that companies will need to adapt too – full time employment will become flexible, location agnostic, benefit oriented and more. Where do you see the job market going? What about your own job?
Advisor Abbate 