Are gig economy executives a thing yet, is the question on the minds of some observers.
My guess with trends indicating more of the workforce entering the gig economy things will change. The model of the salaried executives and managers of the current World may have to follow.
So this is an exercise in forward thinking and what the future may look like. Especially for the archetypical executive of today. This vocation also includes managers as the functions are similar.
Up to now we have associated the gig economy with Uber drivers and food delivery couriers.
Read my take on the evolving Gig economy here.
Will there be such a thing as a Gig World executive? Someone who offers his or her services to a company as an independent executive for a period of time.
Are Managers and Executives keen in the first place?
I guess the first question is there motivation amongst salaried executives to go independent?
I take it some level of attraction when they see their former colleagues in the gig economy. The flexibility and independent nature would stand out.
Even before the gig economy, executives have struck out on their own.
The Attacus story – case study of what we are seeing now.
I came across a UK couple that left their salaried jobs in London 2015. A former media executive and her finance executive partner started an online cycling clothing line for both men’s and women’s wear.
Attacus Cycling co-founders Emily Childs and Jimmi Nicholls is a great story. Great example of 2 former executives wanting to be independent. They clearly embraced the gig economy plus their love of cycling.
They worked with multiple independent collaborators who are also part of the gig economy to make things work. This is the striking feature of the evolving gig economy – independence and flexibility.
They left their London jobs entered a field that that had little or no connection to their past working lives.
They went into design of cycle wear, found manufacturers overseas. Essentially a workforce of 2. Once established, they moved to Durham, North East of England, secured an office cum warehouse at an industrial location.
All the classic elements of the gig economy are apparent in their journey. Low cost setup, minimal inventory, lean in start-up and approach. They worked with independent YouTubers / influencers / design collaborators operating in the niche cycling sector to market their gear.
In Sept 2019, their gear “Attacus ” appeared in a Youtube bikepacking journey from Perth to Adelaide to Melbourne. 4 years after they started the business. Thats how I came to know of the brand.
Are Employers keen?
Do employers have the appetite to look towards the gig economy for line management functions. Functions that are typically carried out by salaried managers and executives.
First instincts would suggest a firm no.
Salaried executives even at the lower end of the working hierarchy are considered owner’s representatives. There is level of trust and confidence placed upon them. Their role would require holding onto company proprietary and intellectual property. In layman’s term the company’s trade secrets.
Do employers have a choice?
With the percentage of those in the gig economy growing as part of the wider economy, employers might not have much choice.
Those who are able to organise, manage and execute tasks and activities independently are more likely to be attracted to the gig paradigm. The very attributes that we require of our conventional executives. The executives talent pool is therefore likely to shrink. At least amongst the capable ones.
Where to now for Executives?
My 3 predictions are as follows;
- End of the traditional mould of executives and managers at the mid and lower level of a company. Partly because of education and empowerment of staff which in the past called for close monitoring.
- The more capable ones who previously worked as executives are more likely go entrepreneurial and run their own business like the Attacus story.
- A pool of independent managers and executives will emerge within the gig economy offering their services because there will be demand. They will have more say on terms and remuneration.
Employers for a new line of activity or tasks may require supervisory and management support for a limited period of time. They still prefer to keep their permanent management team lean and nimble. They will look for contract executives to mentor and monitor the new function until it is fully embedded. I expect such contracts and commissions to average between 6 months to 2 years.
The acid test
The major difference between the new gig economy executive and consultants is that the latter will undertake research, carry out research and analysis and offer solutions to companies. The executive will be boots on the ground to manage and embed the new line of activity for a period of time.
I am sure I will see CVs in Upworks soon that will match the requirements for an experienced line manager or executive looking a short or medium gig. This will be the acid test on this vocation evolving as part of the gig economy – “the gig executive”.