Welcome to the freelance revolution in the era of COVID 19. This is the third report, and invites freelance business and thought leaders to comment on topics of importance as the global economy works through the pandemic. One of hottest topics among freelancers this week is the future of remote work. That’s my question this week to freelance leaders: How do you see the medium and longer term impact on your business of the current ‘shift to remote’ of your clients because of COVID 19?
It is STILL Women’s History Month, and we are continuing to highlight a few of the outstanding ladies, doing the amazing work!
The face of business in the U.S. is changing — and it’s being fueled by a dynamic, impassioned and rapidly expanding freelancing workforce. Recent statistics reveal that in 2019, more than 57 million people (35% of the American workforce) have migrated to independent consulting, a 4 million person upswing over just the last five years. Additionally, American freelancer earnings are rapidly approaching the $1 trillion benchmark. These numbers are only expected to rise as more businesses embrace freelance hiring models to power corporate benefits such as cost savings, performance agility, and greater access to a diverse range of expert creative talent.
Read this with empathy sidelined. Because, obviously, the shocking impact COVID-19 is having on the health and mental well-being of so many is first and foremost — not advertising’s ecosystem. That goes without saying. But I said it anyway.With that disclaimer, let’s get into it: This global pandemic is exactly what our industry needed.It’s drawn a line in the sand between those who are truly real (authentic, as the industry prefers) and built for positive transformation, and those who are not. There is no halfway house. Not any more. And that’s a good thing.
COVID-19 has now infected more than 428,000 people around the world and 55,000 in the United States. As the virus forges on, companies continue to take hits, with many already going through rounds of layoffs, reducing pay and freezing hires. No one knows exactly when life will go back to normal – or the “new normal” – but everyone, adland included, will come out on the other side of this, some more unscathed than others. Campaign US asked consultants and industry insiders to share which agencies are best suited to weather these current storms.
Many self-employed creative professionals—from freelance copywriters and creative directors, to entire video production houses—are finding that their client rosters are going away quickly.Budgets are being preemptively slashed. Entire businesses are closing shop, laying off not only employees but also cutting ties with contractors. Thousands of Americans have found themselves suddenly out of work over the past week, as cities across the nation shut down to quarantine residents amid rising pandemic levels. And according to treasury secretary Steven Mnuchin, the number of unemployed Americans is projected to grow to 20% of the country’s population. That’s 32 million people.
Forbes: 21 Gig Economy Leaders Share How The Coronavirus Pandemic Is Impacting The Freelance Workforce
Once again, I’ve solicited the comments of leaders of the freelance revolution around the globe, and received their current reports from many. I asked each to give readers their best intelligence on the short and longer term intentions of clients—whether startup, small business, or large corporate—to utilize freelancers and independent management consultants in the “coronavirus economy.” Here’s an overview of the big messages:
‘Last in, first out’ the adage sadly goes, and never was it truer than for the modern creative freelancer in times when budgets are cut.This week, the coronavirus pandemic has seen a swathe of marketing campaigns paused or axed entirely, and the trend is likely to continue as more and more clients in retail, entertainment and hospitality stop trading. In advertising, 65% of execs expect the crisis to lead to layoffs in their company, according to research from Fishbowl.
As of Thursday morning, global COVID-19 cases reached more than 200,000, with deaths about to surpass 9,000. Reality has hit home. Mainstream media headlines are bleak and unavoidable. Industry headlines are better, but ugly. And there’s no sugarcoating it; they’ll get uglier — heinous, even — as the full economic impact becomes more apparent in these coming weeks and months. But there is optimism, positivity and resilience everywhere we look in adland.
Business Insider: Must-read books by and for women entrepreneurs and executives that helped grow their businesses.
The business books that land on must-read lists year after year, heavily recommended by CEOs, executives, and entrepreneurs, usually have one thing in common: they’re written by men. Of the 49 books on these lists from CNBC, Inc., and even Business Insider, you’ll count just 10 books that have female authors.