Released on July 31, 2020

The pandemic was just the tipping point for the emerging interim economy.

The word “interim” literally translates from its Latin origins as “the time in between.” For businesses, the next two years will be a time in which they either adapt or disappear.

If we succeed in restoring “a million jobs a month — which would be absolutely unheard of — it would still take almost two years to get back to where we were.”

Of the 160 million people employed in the U.S. in February, 65% had a full-time job and 33% had a contract job with a predetermined end. The average length of stay for full-time employment was 3.5 years and decreasing. The average assignment length for the contract category was 2-plus years and increasing.

The new economy already was in place, waiting in the wings.

What will the interim economy look like? We’re about to embark on a new employment revolution. Both companies and individuals who embrace the new interim economy will thrive.

As humans, we tend to process changes through our existing reality or self-imposed limitation. This is one of those times when we really need to look at things as they are, not as we see them.

Read the Joe Mullings op-ed that appeared on CNBC on July 25, 2020 here: