A lot of people are being laid off in this economy. Many of them are your future competitors. Consider that companies like HP and Microsoft sprang from places like garages and dorm rooms. It takes neither office buildings nor factories to launch a company, or even an entire industry category. (Think Kitty Hawk, for example.)
We are surrounded by all kinds of companies releasing all of types of talent. Of course, these people will not just fade into the abyss; survival demands they adapt to their new condition, using whatever means available. Some might seek work with a competitor across town. Others will go back to school and expand their knowledge base and skill set. But also watch for a significant number of these people to start a business of their own, whether that means joining forces with other victims of the layoff, or simply starting a one-person consulting firm out of their home.
There is an old saying on the matter: In a good economy, many people jump at the chance to start a business; in a bad economy, they are pushed. That is why, although a freelance workforce is certainly not a new trend or idea, it is one that should be revisited.
I am reminded of a book I read several years ago, called Free Agent Nation, by Daniel Pink, which recognized that our workforce is increasingly manned by freelancers and independent consultants; essentially, companies of one. For an overview of the high concept, see this article, which appeared in Fast Company magazine in December, 1997.)
Implications: If you’ve been laid off, is there a way you could work with your former employer in a hybrid work relationship? (Often, your last company can become your first client!) Have you used professional networking (e.g., LinkedIn) to find both prospective clients and potential collaborators? Can you use these contacts to obtain counsel about pricing your services, or to build a support system to replace the one you had in your previous, more conventional, work environment?
If you’re an employer, could an alliance with employees-turned-entrepreneurs allow you to maintain a strong relationship with people whom you’d like to hire back someday? Or, could a hybrid work arrangement allow you continued access to dismissed talent, but on a more cost-efficient, pay-as-you-go basis?
Both for companies that have shed key talent, and for workers who have recently lost jobs, this crisis will demand creative solutions. With the depth and breadth of layoffs occurring in this economy, I think you’ll see the effects of this new “freelance workforce” long into the future. For some, it will mean the difference between creating collaborations… or new competitors.
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