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• Welcome to the last MentorTime session of 2024, running since March 2021. • Today’s session focuses on significant changes affecting attendees. [00:00:30] • Freelancing is on the rise: o McKinsey report shows an increase from 27% in 2016 to 36% of U.S. workers in freelance roles. o COVID-19 accelerated this shift, with many professionals starting their own businesses. [00:01:00] • Companies are shifting towards freelancers: o 92% of companies plan to increase their freelance workforce. o Freelancers offer flexibility—easier to hire and release compared to full-time employees. o However, hiring intentions don't always translate into action. [00:02:30] • Decline of middle management roles: o Reports from Colleen Paulson and Marie Zimenoff highlight a decrease in middle management job postings in 2024. o Entry-level hiring remains stable, while senior executive hiring is rebounding. [00:03:00] • AI’s impact on management structures: o AI is automating tasks, potentially reducing the need for large middle management teams. o Historically, professionals with 10+ years of experience would move into middle management—this shift may impact career growth paths. [00:04:00] • Implications for professionals: o Those in middle management may face challenges in career advancement. o Professionals need to assess their career trajectories in response to these trends.