Benefits of the Gig Economy for Businesses
The Gig Economy has been booming during the last decade. Some people still do not know what it is and what it all means, but it is there and it is servicing more and more customers everyday. Although these part-time, freelance, gig workers have not quite killed the traditional workforce yet, there is a serious uprising that needs to be taken notice of. It is reported by the “Freelancing in America” study by the Freelancers Union sponsored by Upwork, that an estimated 57.3 million Americans – or 36 percent of the nation’s workforce – are now freelancing, most of whom do so by choice (63 percent).
In the demanding situation that the COVID-19 threat has imposed on our society, where thousands of businesses have been closed down, or gone bankrupt, there is a place in the resurgence for the Gig Economy workers to come back strong and support the economic growth. The demand for gig workers is increasing today. If we do not know what tomorrow brings, how can we realistically employ someone on a long term contract? If you are a business owner or an entrepreneur who would like to keep your business thriving despite the challenges today, hiring a freelancer is the perfect solution for your ‘new normal.’
Here’s why:
Saves you money
Businesses are made to earn profits and an income and in these trying times it is hard to gain customers especially if your business works in the non-essential sectors. In the gig economy, employees are employed without a long term contract. This is great if you do not know what tomorrow brings. What if there is a 2nd wave? What if there are strict lockdown protocols to follow? You can hire and fire quickly, and it is still within the expectations of the employees. You are also giving people a chance to earn money, for their family and for their essential needs. It is cheaper to hire freelancers since you do not have to pay benefits, health coverage, bonuses, commissions and all the extras that come with full time employees.
Global Productivity
Freelance workers can be hired across the globe, many jobs can be completed in different time zones, which can improve productivity. Skilled workers in some developing countries are cheaper than hiring locally, and also are more experienced in the Gig Economy, they know that what they earn today might be different to what they earn tomorrow. Sometimes having a multicultural workforce means that you can relate to your multicultural customers even better.
Specialisation
Gig workers save the business from having too many expenses. One of the benefits of being in the gig economy is that employees are already trained and have specialities and experience doing the job that you need. Training is quicker, because the gig employees are so experienced in being dropped in the deep end and expected to perform with minimal support and training.
So if you are looking for cheaper, experienced staff, who can work at the drop of a hat, and who are used to working one day and then not the next, who are flexible, adaptable, skilled, and passionate about the job that you are offering………. Look no further, the Gig Economy is here for you.
