COVID Suffering with a Side of Optimism

Mar 04, 2021

One of our great customers recently sent “One of Ten in U.S. May Have to Switch Occupations Post Pandemic” to our team with the note, “Glad we picked Atlas as a partner” with the graphic below.  As leader of Atlas, I wanted to share part of the 2021 Atlas Update, which details the state of our union and market trends.  This is the first time sharing one of our updates, which I hope that you find interesting/helpful – if so, I would love to hear from you with any comments or questions.

 

COVID Suffering with a Side of Optimism

Our society and markets have sustained extreme suffering over the last year.  Likewise, Atlas Certified experienced its share of challenges, with some customers going out of business or having to delay planned investments in our technology.  Ultimately, however, we kept our heads above water working to formalize existing opportunities and thinking critically about Atlas Certified’s place in this whole new world that we all live in.

We understand that significant economic and societal shifts often provide an environment for, and indeed provoke, major innovation and change and we are working hard to ensure that Atlas takes advantage of emerging opportunities.  These new opportunities bubble up as increased interest comes from within the gated communities, from marketing (verified discounts) and financial (credit), operational (fraud), insurance (risk profile) and verified profiles (job marketplaces).  These opportunities and expressions of interest reinforce our belief that these sectors are not only trending but also converging and as the Grateful Dead sings, “Once in a while, you get shown the light in the strangest of places if you look at it right”.  These trends, combined with an increasingly on-demand and skill-based economy, are very positive for our core business and beyond.

The transition from companies (and individuals) relying on static, periodic checks to updated profiles for more proactive decisions and liability management in an increasingly on-demand economy has matured and I am thrilled to report to you that the marketplace is responding.  We have added great logos to our customer list and established core innovation partnerships with some of the largest companies in the world. Bottom line: we have a great product with big brand customers, including HomeAdvisor, Angie’s List, Amazon, ADP, Brex, Care.com, among others, that rely on us and love the value and benefits Atlas offers.  We have proven value so our primary challenge at this point is to collectively determine how to achieve our articulated strategies, which will unlock future opportunities, markets and ultimately value.

We have the necessary ingredients to achieve our goal of becoming the clearinghouse for all represented credentials within a rapidly evolving economy that clearly values real time, on-demand skills plus the arguably larger opportunity of helping customers explore data as a service (financial, fraud, identity, etc) as we succeed.  We have an amazing product, tested and proven, that our customers absolutely love so excited to continuing to explore the massive opportunity together.

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One out of every ten U.S. workers — about 17 million, all told — will likely be forced to leave their jobs and take up new occupations by 2030 as Covid-19’s after-effects destroy huge swathes of low-paying positions in a labor market that was primed for disruption before the pandemic.

Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hallowing out of low-wage work in retail, hospitality and other industries.

“Covid is a big disruptor,” Susan Lund, a Washington-based partner at McKinsey Global Institute, the consultant’s research arm, said in an interview.

The 17 million Americans are part of the more than 100 million people worldwide that the institute forecast will need to leave their jobs and enter new lines of work by the end of the decade. That will amount to about one in 16 workers in the eight leading economies covered by the study, which includes China, Japan, Germany and the U.K., as well as the U.S.

 

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