Digital nomads are remote workers who aren't tied to a specific location. They leverage technology to perform their jobs while exploring different parts of the world. This lifestyle differs from traditional remote work, as it involves frequent travel and temporary residences.

A blend of "work" and "vacation," a working arrangement where individuals, particularly freelancers or remote employees, combine their professional responsibilities with a vacation.

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Instead of taking time off work entirely, they travel to a different location, often a desirable or exotic destination, and continue to perform their job duties while enjoying the benefits of a new environment. This approach aims to enhance work-life balance, boost creativity, and improve overall well-being by allowing individuals to work remotely in a more relaxed and inspiring setting. Workations can lead to increased productivity and job satisfaction as employees benefit from a change of scenery and a more flexible lifestyle.

A remote work policy where workers are encouraged to work from anywhere in the world.

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Workers are given the flexibility and autonomy to choose their work location, and their employer provides them with the tools to stay connected with their colleagues remotely. This policy emphasizes trust, flexibility, and the use of digital communication and collaboration tools to maintain productivity and teamwork, regardless of geographical location. WFA policies can enhance employee satisfaction, attract a diverse talent pool, and support a better work-life balance.

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See also: Remote Work Policy.

A freelancing approach where an individual focuses on offering specialized services within a specific industry or niche rather than providing a broad range of services across multiple industries.

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This method allows freelancers to develop deep expertise and a strong reputation in a particular field, attracting clients who need highly specialized skills and knowledge. Vertical freelancers often become subject matter experts, enabling them to command higher fees and secure long-term contracts within their chosen industry.

A staffing model that includes a mix of full-time employees, part-time workers, freelancers, and temporary staff to meet fluctuating business demands.

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This model allows organizations to adjust their workforce size and skills based on current needs, improving flexibility and cost efficiency. By leveraging a variable workforce, companies can quickly scale up or down, access specialized skills as required, and optimize labor costs while maintaining productivity and responsiveness to market changes.

A highly talented and versatile employee who possesses a unique combination of skills that are rare and highly valuable to the organization. Unicorn employees often excel in multiple areas, bringing innovation, leadership, and exceptional problem-solving abilities to their roles. Their diverse skill set and adaptability make them critical assets in driving the organization’s success and growth.

A condition where individuals in the labor force are employed at less than full-time or regular jobs, or at jobs that are inadequate in terms of their training or economic needs.

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This includes situations where workers are overqualified for their jobs or are working part-time but desire full-time employment. Underemployment reflects a mismatch between workers' skills, qualifications, and the demands of their current roles, often leading to reduced income, job dissatisfaction, and limited career growth opportunities.

A comprehensive analysis and interpretation of data related to an organization's workforce, including employees, freelancers, and contractors. This approach leverages data analytics, AI, and other technological tools to gain insights that optimize workforce management, improve decision-making, and align workforce strategies with business objectives. Total Workforce Intelligence enables organizations to better understand workforce dynamics, forecast future needs, and enhance overall productivity and efficiency by integrating data from various sources to provide a holistic view of talent and resource utilization.

A place that is used alongside the first place (home) and second place (work, office) for work or business interactions.

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This can include cafés, museums, parks, or libraries, as well as directly on-site at the customer's premises or in shared spaces with partners and other stakeholders. Third places provide alternative environments that foster creativity, collaboration, and networking outside the traditional home or office settings, offering a more relaxed and informal atmosphere for professional engagements.