The Gig Economy: The Advantages Of Aging Workforce
The Gig Economy is here to stay. Various sources agree that by 2020, roughly 40 percent of the work force will be made up of contingent workers, such as freelance or contract workers.
Some people view this as a problem for workers, but it doesn't have to be. It can also be an opportunity, assuming it is handled properly.
For a long time, a good job was one where the company took full responsibility for the worker. A good job was full time with benefits, including retirement benefits.
This worked well for the traditional head of household in the traditional nuclear family. But it is a system that essentially assumes that someone else is cooking the meals and cleaning the house. In short, it assumes that there is a full time homemaker behind …show more content…
They may also have decades of experience and acquired skills that merit better pay per hour worked.
In addition to aging workers, single parents, individuals with health problems and two career couples may also find the flexibility of gig work appealing. The new gig economy opens up opportunities for individuals who previously would have had little hope of a real career with a middle class or better income.
On the employer's side, compared to the traditional hiring practice, candidate sourcing is far faster than the traditional hiring process. Not only is there less overhead involved in hiring a contingent worker, it is quicker.
In the Internet Age, where business moves at the speed of information, this can be more valuable to the business than the cost savings per se. It can be harder to see the dollar value of opportunity costs, but lost opportunity does have real financial costs for business.
So, how can a company make this a win-win situation for both gig workers in the new economy and the company? For starters, companies should not assume that a temporary hire or freelancer is someone they will never see
Some people view this as a problem for workers, but it doesn't have to be. It can also be an opportunity, assuming it is handled properly.
For a long time, a good job was one where the company took full responsibility for the worker. A good job was full time with benefits, including retirement benefits.
This worked well for the traditional head of household in the traditional nuclear family. But it is a system that essentially assumes that someone else is cooking the meals and cleaning the house. In short, it assumes that there is a full time homemaker behind …show more content…
They may also have decades of experience and acquired skills that merit better pay per hour worked.
In addition to aging workers, single parents, individuals with health problems and two career couples may also find the flexibility of gig work appealing. The new gig economy opens up opportunities for individuals who previously would have had little hope of a real career with a middle class or better income.
On the employer's side, compared to the traditional hiring practice, candidate sourcing is far faster than the traditional hiring process. Not only is there less overhead involved in hiring a contingent worker, it is quicker.
In the Internet Age, where business moves at the speed of information, this can be more valuable to the business than the cost savings per se. It can be harder to see the dollar value of opportunity costs, but lost opportunity does have real financial costs for business.
So, how can a company make this a win-win situation for both gig workers in the new economy and the company? For starters, companies should not assume that a temporary hire or freelancer is someone they will never see