In a nutshell : creator economy is a large group of independent creators, curators, and community builders building independent, tech-enabled digital businesses with the help of software and financial tools that enable them to monetize their content.
How Is the Creator Economy Affecting Talent Development and Human Resources?
A lot of people, particularly the younger generations, want to live life on their own terms doing things they're passionate about. And the creator economy makes this possible.
There are a handful of professional creators, as the creator economy grows, who are monetizing their content through specialized creator development platforms ,similar to the traditional or not so traditional career path programs of Software Organizations.
For all these reasons, the content creator economy is impacting traditional HR because we can now look at how content creation and social media marketing can be an asset to the organization, as well as how a Software Employee’s personal brand impacts opportunities for organizations to funnel talent and consumer recognition to the Software Development Company. Additionally, creator skills will help close the tech skills gap through digital enablement.
Talented content creators find success through low-code creation platforms such as Canva and Restream and the software that is easy to use for beginners. This has not only led to the rise of the creator economy but also created many success stories that accelerated its network effect. More content creators generate more great content; more content makers leads to more consumers of content; more consumers mean more monetizing opportunities and success stories, which entice more great creators. The virtuous cycle continues.
As a result, people who thought about waiting until retirement to pursue their passions are doing it now, and employees have started picking up side hustles. Returning to an office and traditional work has lost its appeal. People who lost jobs in the Covid-19 pandemic have started to re-consider these alternative income sources as the primary mode of their livelihood.
This trend across the globe has not just amplified challenges for HR professionals with respect to talent supply, retention, and engagement but also is wreaking a supply shortage in recruitment As we continue to witness new technology and the emergence of new social platforms, you can expect an increase in the number of content creators. What this also means for Software Organizations is that they may have to double up content creators as their employees or create flexible employee models or recruitment policies where content creators and organizations, both create a win-win situation and work amicably.
So, will the future of the workforce be content creators doubling up as employees, or will we see organizations scampering for talent amidst the influencer economy? The answer is open to guesswork!
(*P.S: If you have a positive experience in the creator economy , please share with us).
(Author: Abirami Vellayappan is a curious cat and a social media writer at TechDoQuest, which is an IT Recruitment Company.)