Right now, we are at the cusp of massive transformation in businesses across sectors. This is especially true about operational approaches having engaged public policy makers from the very top. There has been a growth in demand of independent workers, many of whom use platforms such as Etsy, Uber and Upwork to connect with possible clients. Talent recruitment is now largely done through online portals such as Monster and LinkedIn. There have been major developments in employment, skills and the resultant incomes. This has led to labor markets coming under strain and talent not being utilized to the brim. The real wages at household levels have stagnated or even declined in the developed economies. While a certain part of the world may be endowed with a set of skilled people, matching jobs may not be available over there. A lot of this disparity is being met by migration, but that is creating another set of problems. In addition, digitization and automation are further fueling fears of job losses. Digital talent platforms can to some extent fill these gaps. A report published by the McKinsey Global Institute confirms that about a fifth to a third of working population in Europe and North America is engaged in some sort of independent work, leveraging the potential of these digital platforms.

Source:https://www.mckinsey.com/global-themes/employment-and-growth/technology-jobs-and-the-future-of-work?cid=other-eml-ttn-mgi-mgi-oth-1712

Uploaded Date:19 January 2018