Read news on the Gig Economy
What is the gig economy?
The gig economy describes a job market based on adaptable, flexible, temporary or freelance work, generally involving an online platform.
It’s important to your business because it revolutionizes the make-up and economy of workforces. Companies like Uber and Deliveroo have redefined this new form of employment relationship. But they represent only the visible tip of the iceberg that is changing the employment market.
Whilst general perceptions of the subject are that gig working is only for manual or relatively low-skilled jobs like driving and delivery, this isn’t backed up by hiring trends. You’re just as likely to find top-talent and hard-to-reach job skills (e.g. scientific, technical and professional candidates) in the gig economy. It often lets people to achieve higher rates of pay and an improved work-life balance compared to working full-time.
Gig work is progressively replacing regular full-time employment and is expected to be the majority of the workforce by 2027 (in the US).
Latest articles
Talent Technology and the Future Workforce
The world of work has rapidly moved from long employment contracts and commutes, to bite-size gigs and work sessions punctuated by walking dogs, picking up the kids and taking a break in a caffe. The little legs of employer talent leaders are paddling like crazy under...
Poll Results: Is it reasonable to cut the pay of staff who choose to work from home?
A couple of weeks ago, it was reported that Google had developed a location-based pay calculator which could show employees what kind of pay cuts they can expect for choosing to work from home. And Google’s not the only large employer to do so. Tech giant, Facebook,...
VMS platforms now support hybrid working
A VMS for Hybrid WorkingThere are a great many ‘hybrids’ in the digital age—hybrid cars, hybrid cricket pitches, and, more recently, hybrid working practices. A hybrid is qualified as a thing made by combining two different elements. In the working world of 2022, the...
Going Global with your Talent Strategy
Is your business overlooking the opportunity to leverage offshore resources? Discover whether a global talent strategy is right for you.
The future of work – a new kind of teamwork
What has changed in attitudes to knowledge working and what the newly styled ‘future of work’ is likely to look like for millions of people.
Five Future of Work Strategy Decisions
HR leaders have been facing rapid changes over the past year. These are 5 of the important but difficult decisions that ensure future success.
AI in Workforce Management 2021
AI use in business is expected to skyrocket (54%). Why, and what are the implications for the workforce management and talent industry?
Industry News
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Are you missing out because your VMS tech is out of date? Here are the 5 add-ons to supercharge your VMS and talent management strategy.
What AI tools should you expect in a VMS?
Are you missing out because your VMS tech is out of date? Here are the 5 add-ons to supercharge your VMS and talent management strategy.
How can a VMS help your business achieve a total talent management strategy?
As stakeholders get more involved in the workforce management process, many leaders are turning towards a Total Talent Management strategy.
Please note: The insights provided in this section are commonly republished from third-party sources. Articles are the exclusive opinions of the authors. Simplify Workforce accepts no liability for their accuracy or for any consequential impacts of any actions resulting from the use of this information.
10 Facts about the Gig Economy
1. Companies, gig workers, and consumers all make up the gig economy. The types of organizations that the gig economy can apply to range from technical positions to transportation positions. (Whatis.techtarget)
2. Studies have shown that men tend to take more labor-based gigs and try to rely on this for income, while women will be more likely to take sales or marketing gigs for supplemental income. (Whatis.techtarget)
3. Over 50% of full–time gig workers felt more financially secure than those with traditional jobs in 2019. (Goremotely)
4. 70% of freelancers cite a better work–life balance as the reason they choose the gig economy. (Flexjobs)
5. 67% of regular full–time employees intended to leave their full–time jobs for a gig. (Goremotely)
6. Gig economy income statistics show wages and participation have grown by 33% in 2020. (Goremotely)
7. The gig economy is expected to reach a worth of $455.2 billion in the US in 2023. (Statista)
8. 40% of companies see gig workers taking a more significant part of their workforce in the coming years. (Goremotely)
9. More than half of gig workers are Gen Z and Millennials (18–39–year–olds) and have an annual household income of $50K or less. (Businesswire)
10. 50.9% of the U.S. population will be freelancing in 10 years if a current uptick in freelancing continues at its current pace. (Forbes)
11. When comparing the pre-COVID vs COVID periods, the average number of gigs completed per day during COVID was 24.94% higher. (Hubspotusercontent20)