On the evolution of work

In a world where everyone is demanding more of our time and apps are all vying for our attention while tracking our clicks and actions, how do we set boundaries?

The future of work is human — and tech can act as an enabler for new economic opportunities

If technology is supposed to help us become more efficient and have more control over our lives, why do we feel more exhausted and stressed than ever before?

Think about how much our work culture has shifted over the past few years. Could the tug and pull between work/life priorities and the increasing demand for in-person interactions be impacting us in ways we hadn’t thought about before?

Return to office

Having been in different corporate environments, I can understand how some work arrangements can appear more attractive compared to others. While working from home certainly offers immense benefits, including providing much needed flexibility for those caring for their loved ones — old and young — it can also be an incredibly isolating experience, especially for those who don’t have well-established social circles in the workplace. The simple act of getting lunch or grabbing a coffee in between meetings or the serendipity of hallway conversations are extremely helpful in creating rapport and fostering team culture.

On the flip side, the change in office settings over the years certainly hasn’t made the prospect of a full return to the office compelling enough either. How much exchange can you truly facilitate when everyone is immersed in separate conference calls with headsets on while sitting in an open floor space, or worse, hot-desking?

In the constant quest for corporate efficiency, how much are we willing to give? And how much will employers be willing to cater to the varied needs of their workforce?

There is no easy answer, of course. But the last few years have given more people a taste of what a more balanced way of living could be like, even as we juggle with increasingly blurred boundaries between our professional and personal lives.

Therein lies the appeal of being part of the independent workforce, where professional freelance workers can have more flexibility over when, how, and where they work and who they partner with — opting for a more flexible and autonomous lifestyle over a steady paycheck and employer-sponsored benefits.

But just as with entrepreneurship, this vision of gig work is a more romantic version of what many call the ‘future of work’ — and a privilege not available to everyone, especially those with financial obligations. Many delivery and rideshare workers for example put in long hours and are often at the mercy of the gig platform’s algorithm in order to make ends meet. An Uber driver recently told me that, at age 70, many of his friends back home have retired. But after moving to the US with his family, he was still driving eight hours a day enduring Beltway traffic, because ‘bills need to be paid’.

Capturing the growing opportunities

Beyond the more traditional independent contractors and freelancers, there is also a growing creator economy with a projected addressable market size of $480 billion by 2027, according to Goldman Sachs — fueled by 50 million global creators growing at a 10-20% compound annual growth rate in the next five years.

How then can we create more opportunities for people to truly take advantage of the new ways of earning income while weathering economic uncertainties? Earned wage access is a great example in helping workers access a portion of their already earned wages outside of a typical pay cycle. And it is perhaps not a coincidence to see more invoice financing solutions being offered to small business owners, since facilitating cash flow can go a long way in reducing financial stress and aiding growth.

Will we soon see more ‘early pay’ solutions for freelancers and content creators who are increasingly feeling the squeeze of uneven and cyclical income as well? I surely do hope so. After all, the future of work is human — and tech can act as an enabler to create new economic opportunities for more people beyond traditional work.

About the author

Theodora (Theo) Lau is the founder of Unconventional Ventures. She is the co-author of Beyond Good and co-host of One Vision, a podcast on fintech and innovation.

She is also a regular contributor for top industry events and publications, including Harvard Business Review and Nikkei Asian Review.