Millions of workers around the world are attracted to the limitless realm of independent work engagement with business, also known as the “gig economy”. Thanks to platforms like Upwork and Uber, freelancers now have greater access to more transparent forums to connect with potential buyers of their services. Because gig engagements provide steady income and allow employees to make more from multiple engagements, they are growing in popularity. The gig economy is not a one-way market. While employees seek independent work, businesses are also expanding their reach beyond traditional hiring. This growing trend will undoubtedly impact workplaces and employer-employee relationships.
These are just a few of the ways that the emerging gig economy will shape the future work environment:
Employers that offer education assistance will attract a millennial gig workforce.
A Deloitte survey found that the majority of gig economy workers worldwide are millennials and will enter the workforce even before they finish their education. This group of workers prefers to learn at their own pace, and many, especially women, will leave the job market to continue learning. Employer-provided education aid will be a valuable perk for millennial gig workers who want to improve their career continuity. Employer sponsored college education is one way for gig workers to remain in the labour market because they are tied to a specific employer.
The demand for skilled skill development in the arts, maintenance and administrative areas will increase:
Workers in gig economies will seek work in key areas such as maintenance, arts, and other creative fields. Construction Administrative and support roles, especially in professional services. Industries that are manufacturing . However, administrative support positions such as data entry and receptionist may be in decline due to deep technologies like artificial intelligence (AI). This will encourage gig workers to reskill to become specialists in their chosen fields, such as arts, manufacturing and professional services. Organizations will also offer these skills development opportunities to their employees in order to keep up with the trend.
Gig workers will be attracted to entrepreneurial jobs.
Millennial gig workers are more emotionally flexible and hardworking than other generations. They are also less afraid to break the rules. Many millennials are self-confident, disciplined, open to learning, and able to handle new situations. This will make it easier for this group of workers to find work that is entrepreneurial and self-starting.
What does this all mean for businesses?
The gig economy, or alternative economy, will grow in popularity as the current generation becomes more obsessed with freedom. This will disrupt businesses. Organizations will need to go beyond traditional resumes to be able tap into this pool of skilled talent. Talent acquisition leaders will have to adapt and reorient their strategies in order to meet new employment models. Employers will lose out on the vast pool of talent with specific expertise if they limit their selection criteria to traditional college degrees.