The Gig Economy

The workforce as we know it is changing. Employees are in search of a better work-home balance. As a result the Gig Economy is rapidly growing, where temporary and flexible jobs are the common practice and companies hire independent contractors and freelancers instead of full-time employees. Companies these days are not just competing for market share, but also for talent. The proof is in the numbers. Independents, particularly in skilled labor markets, currently represent about 36% of the nation’s workers and, according to Intuit Investor Forecast, 7.6 million Americans will be part of the contingent workforce by 2020. With this rising trend, companies can prepare by learning how to adjust to support the future of the workplace. Gig Economy, IT Professionals, Future Workplace

Why Employees Choose The Gig Economy

Freedom, control and purpose. Employees are jumping into the Gig Economy hoping to earn additional money, to feel more like entrepreneurs, choose their own hours, and decide where they work from. Thanks to technology and companies that realize both the financial and strategic benefits of an on-demand workforce, employees are realizing that they no longer need to choose a traditional position.

The Problem

Many companies fear that without employees physically in an office, they won’t be able to supervise what they are doing. Companies stick to traditional methods of hiring full-time employees within driving distance of the office.

What is the problem with this? Employers are limiting the talent that they can hire. Companies need to consider how to best adjust to this new idea between employers and employees. The sooner they do, the better they will be able to capitalize on the exposure of global talent.

How Your Company Can Adjust to the Gig Economy

To get the best quality employees and lower turnover at your company, consider these ideas.

  1. Be Open To People In Other Locations: The Gig Economy allows companies access to talent all over the world. No longer do companies only have access to talent within a certain distance or have to worry about the loss of talent in their region. The Gig Economy allows employers to hire the best person fit for a job or a team to work on a project, no matter what their location is. In the Midwest, the talent gap is a strong reality for companies. This new concept is a great way to close that gap.
  2. Let People Work From Home: With technology, communication is easier than ever. Skype, email, and Google Drive allow employees to still work together and collaborate without having to be in the same building. Working from other locations can also help employees to get creative and not get stuck in a rut
  3. High-Quality Work Done Quicker: Full-time employees can sometimes find themselves working slowly. They may drag out a project in order to lessen their workload. There can also be downtime when employees don’t have much work to do. Allow employees to have a flexible schedule. It is a good way to capitalize on how they get their projects done to avoid wasted working time
  4. Leadership & Training: Having strong leadership and training is important when it comes to hiring employees anywhere. With good communication and clear goals, your team (no matter the location) will know what is expected of them. A strong core team will greatly benefit your company
  5. Re-evaluate Your Technology: Technology is also an important factor. Is your company ready for the Gig Economy? There are plenty of great online management tools available. Having a handful of technology resources that help keep your team connected, but still maintain IT security, is crucial.

Paragon IT Professionals can help you incorporate a mix between a traditional and contingent workforce, providing scalability through IT staffing and solutions, including dedicated project services.