How the Gig Economy is Impacting the Corporate Workplace

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How the Gig Economy is Impacting the Corporate Workplace

The technological advancements in the last ten years have been moving forward at a very rapid pace. New technologies and gadgets have revolutionized the way people live and work. This is the era of connectivity where you can instantly connect to different online services and gain access to all types of information with just a click of the button. Today, many employers and companies around the world are taking advantage of this scenario by recruiting freelancers to accomplish short-term projects and finish tasks that require unique skills. Statistics show that there is a growing trend of workers becoming independent contractors, and this has contributed to the rise of the Gig Economy.

What is Gig Economy?

Gig Economy, also known as Shared Economy, is defined as a modern labor market consisting of workers that have short-term contracts or do freelance work, as opposed to the traditional permanent job. The freelancers are also known as Gig workers.

Gig Workers

Over the past ten years, there has been a rapid growth of gig workers and freelancers. This means that many workers are now doing freelance work and consulting services for different employers local and abroad.

The Rise of the Gig Economy

Gig Economy is truly gaining a lot of ground. So why are people shifting to this kind of job? Here are the reasons why the gig economy is favored by so many companies, employers and workers today.

  • The traditional 9 to 5 job is considered by many workers as confining and places more limitation on their freedom. With the rise of the gig economy, this provides workers with their much-needed independence and freedom to decide when and where they want to work.
  • Gig workers can have multiple employers, lessening the risk of job and income loss. Many freelancers are not just working for one employer.
  • Freelancers working for multiple companies and employers are capable of expanding and learning new skills. This also exposes many gig workers to different job opportunities.
  • Companies and employers can save on cost since they can get the services of an expert for a short period of time, instead of permanently hiring them.
  • Corporate workplace can cut down the cost of providing healthcare and other benefits.
  • Companies hiring freelancers don’t need to provide office spaces.

Different Changes in the Corporate Workplace Caused by the Gig Economy

Many corporations can now have the ability to scale their workforce up or down according to their business goals. If a company is planning to pursue a large-scale project, they can use freelancers and experts that can be hired on a project basis. Outsourcing and creating new teams for a specific project requires the corporate workplace to adjust to this type of scenario. The corporate workplace should have the technology and management skills to handle these immediate changes.

In the modern corporate workplace, collaboration and teamwork need to be more polished and improved. With the growth of the gig economy, companies need to heavily promote teamwork and collaboration between their own employees and gig workers. When the management creates a new team composed of different freelancers and consultants, it can be very challenging to maintain a smooth and collaborative working behavior between the team. The company has to provide new features in their workplace that would enable more teamwork and collaboration.

The corporate workplace must be capable of encouraging the gig workers that they are really part of their team. Since these gig workers are just working on a temporary basis, their commitment to achieving business goals may not be as strong as their regular employees. The challenge is for the corporate workplace to motivate these gig workers and instill a more positive attitude in order to achieve a common goal.

The rapid growth and popularity of the Gig Economy ensures that it is here to stay. However, hiring gig workers bring more complex changes that have to be addressed quickly by the corporate workplace. New strategies and features can be implemented by companies in order to accommodate these changes and deliver smoother working conditions for their own employees and gig workers.  

 


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