5 Predictions for the Freelance Economy in 2016
With the new year fast approaching, it’s time to start looking ahead to 2016. But before we do, we’d be remiss if we didn’t take a quick look back on 2015 and reflect on one of the hottest topics of the year: the freelance economy. Many of the observations we made a year ago seemed to have come to fruition in some form or fashion.
The freelance economy continues to grow, not by the same margin from a year ago, but still growing nonetheless. We witnessed the continued adoption of Freelance Management Systems (FMS) as more businesses recognized the need to formalize their management of their rapidly expanding non-employee workforce. We saw global Fortune 500 enterprises increasing their use of independent talent and the continued emphasis on talent analytics as businesses look to make intelligent, data-driven decisions about their workforce.
So, what’s in store for 2016? While many of the developments we saw unfold this year will continue to play out, we’ll expect to see new trends emerge this year that you should definitely keep your eye on.
- The Debate Around Regulation Rages
Many — myself included — have written about the antiquated labor laws causing so much chaos in the freelance economy. While most acknowledge that today’s laws around worker classification and independent contracting reflect decade-old definitions, there has yet to be anything done. Will that change in 2016?
The changes needed touch so many parts of our society that the complex reform required is beyond the scope of what can be done in Washington these days. However, while the federal government may not be capable of acting, don’t be surprised to see a forward thinking state clarify with quantitative metrics when they will act on misclassification. My money’s on Rhode Island.
2. The Convergence of All HRMIS Begins
Human Capital Management. Vendor Management Systems. Freelance Management Systems. The technology, data and insights needed to effectively manage every component of a modern workforce is growing more complex by the day. As a result, today’s savvy enterprises are beginning to simplify how they think about and manage their entire workforce.