What’s in a Name?

William Shakespeare famously penned the question in Romeo and Juliet, “What’s in a name? That which we call a rose by any other name would smell as sweet.

While we’re not star-crossed lovers from warring families, we are hard working professionals with titles that (somewhat) define what we do! With the onset of the new crop of titles and working styles that are trending and truly changing the face of our workforce. It might be time to ask yourself, what category do I fall into?

Let’s start with a deep dive into the freelance economy
and the rise of the remote worker.

The Gig Economy – Investopedia defines the freelance economy, also known as the gig economy, as the practice of hiring self-employed workers (freelancers) to undertake specific jobs. They may find jobs through classified ads or through temporary staffing agencies. With the rise of startup unicorns such as Airbnb, Lyft and Uber are credited with the true upsurge in this type of work relationship, while literally thousands of other companies have followed suit. Services from grocery shopping to professional legal advice to graphic design are now gig-worthy endeavors, and many freelancers are creating their own business filling these roles.

The Rise of The Remote Worker – With a talent shortage that is pervasive across industries and dominant in areas of design, marketing and technology, the rise of the remote worker has benefited companies grappling with recruiting challenges. By opening up the talent pool, companies are able to overcome their hiring obstacles – paving the way for the rise of the remote worker. According to a recent Upwork survey, hiring managers predict that 38 percent of their full-time staff will be working remotely in the next decade.

Here’s your glossary of terms to get you schooled up on your possible new title:

  • The Solopreneur versus The Entrepreneur – These titles may seem interchangeable, but there are some distinct differences between the two. Many professionals across a wide variety of industries start businesses with no intention of adding staff or growing beyond their “lone wolf” status – these are the solopreneurs. Entrepreneurs typically have loftier goals such as creating a viable business, disrupting an established industry or even creating an attractive pathway to sell-out to investors at a later date.
  • The Freelancer versus The Consultant – A freelancer is often an overflow resource for a certain area of your business providing extra assistance or expertise. A freelancer may perform bookkeeping tasks, blogging services or technical services like website development. The freelancer normally takes direction from the client on the project or task and simply executes tasks. The consultant, on the other hand, is hired to help look at the bigger picture, audits current activities, develops strategy and measures results.
  • The Remote Worker versus The Permalancer – A remote worker is typically a full-time employee that does not enter into the office on a regular basis or, in most cases, ever. The remote worker has a home office, full-time employment status and all the benefits of the in-office employee. He or she relies on tech tools like Slack, Skype and Join.me (or a combination of the multitude of options that are available) to interact with the team. The permalance worker is somewhere between a freelancer and a remote work. One might say the permalancer is a freelancer who has the regular work of a remote worker without full-time status. The permalancer might be striving toward full-time status or simply happy with the relationship he or she enjoys with the company.

Fast Company estimates that more than 55 million Americans work as independent contractors or moonlighters. In the last two years, that number has seen an increase upwards of two million. Additionally, CareerBuilder reported that in 2017, more than half of employers were seeking contract workers of some kind. While these non-traditional workers graduate to the new normal, it’s important (and a little fun) to decipher what the titles tell us about what we do and what our colleagues do.

Of course, there’s more out there like mompreneur, Upworker, side hustler, etc. Chances are it’s also okay to create a new one. If you have a cool idea for a title, let us know! And, if you need a home base that isn’t at home, Crown Center Executive Suites in Fort Lauderdale has a workspace solution to fit your title, whatever that may be.

Our flexible workspace products include 90 economically-priced Executive Suites, Five conference rooms, a state-of-the-art training room, Shared workspace and virtual office options.

Set up your tour of Crown Center Executive Suites today!