The gig economy isn’t just for ridesharing platforms. Now, many of the world’s best business minds are working independently and steering complex, strategic initiatives on a project basis. In fact, in the U.S. and Europe, up to 162 million people engage in freelance work—and nearly one in five freelancers are highly skilled “supertemps” who make more than $100,000 a year doing it. So how do you set your company up for winning the war for talent in the gig economy?
What’s driving this shift to the gig economy?
Technological advances, demographic shifts, globalization and the changing relationship between employers and employees is causing a talent revolt among knowledge workers. Going independent allows these workers to gain more ownership of their work process and product, more variety, more say what they work on, and control of where and when they work.
From the company perspective, they need faster access to the newest skillsets while also grappling with talent shortages. So leveraging on-demand talent to fill short term needs is an ever-appealing solution to both challenges.
This is the future of work. This is the new talent economy.
Winning the war for talent in the gig economy?
Companies that respond to this employment shift will get their work done faster and smarter and their innovation will flourish. Consider the stars of Major League Baseball and Hollywood: the best talent rises to the top in a free-agent world. And an open, efficient, independent labor market is going to attract the best talent over time.
Meaning there is greater opportunity in the gig economy than just addressing specific projects as they arise. Companies must think beyond whom they engage to solve their problems, but how they approach work in order to stay nimble and competitive over time.
Download Business Talent Group’s latest eBook to learn:
- How accessing on-demand talent can increase your company’s agility
- Which project types are best suited to independent workers
- Why org charts of the future will look like a jigsaw puzzle, not a pyramid
- How to ensure your company will be winning the war for talent in the gig economy
Leah Hoffmann is BTG's Marketing & Content Strategist. A former journalist, Leah worked for Forbes.com and The Economist before joining BTG. She is passionate about clear thinking, sharp writing, and strong points of view.