How To Be A Rock Star In The Elite Expert Segment Of The Gig Economy is an interesting white paper from The Luxury Institute, which claims to be "the world's most trusted luxury and premium goods and services consulting firm ...".
The Luxury Institute is an expert network firm. These firms provide clients access to industry experts, most of which are independent consultants.
The Luxury Institute calls their expert network GLEN (Global Luxury Expert Network) and say they have hundreds of independent luxury goods and services experts who are part of it.
The white paper points out highly skilled expert talent is in demand. Key quote:
Whether an individual chooses to be a full-time employee, or an independent expert, it has never been easier to market and sell expert skills across the entire planet. With a tremendous skills brain drain occurring in business as baby boomers have started to retire, leaving in their wake an army of novice millennials to take over in the cockpit, literally, elite experts are in high demand.
And they point out if these people choose to go independent, they can do well. Again from the white paper:
... if someone is a rock star in the gig economy, they will see their market value magnified by going solo rather than being employed. This is simply because they have the ability to sell their expertise to the highest bidders. Similar to fields such as professional sports and entertainment, and now high technology and e-sports, the gig economy will ensure that elite business experts benefit from what economists call a “power law distribution,” where the top achievers earn a highly disproportionate amount of the revenue.
This echos what we found in our research looking at highly skilled and compensated independent workers.
As the chart below from the MBO Partners State of Independence study research brief Highly Skilled, High Earning Workers shows, the number of U.S. high earning independent workers (those making $100k or more) has increased by 70% since 2011.
There are many drivers behind the growth of high earning independents - see the research brief for details.
But the main driver, as is pointed in The Luxury Institute's white paper, is the growing demand for highly skilled workers.
And since firms are increasing their use of highly skilled independent workers, we see no reason why the number of highly skilled independent workers won't continue to grow.
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