It’s apparent the pace of technological development has drastically changed multiple industries in the economy. One of the biggest changes has been in the growth of the gig economy. For those who don’t know, the gig economy focuses on temporary positions or positions created for the duration of the project instead of the full-time, traditional positions for which most people are familiar. When experts try to estimate the size of the gig economy, most people look at the number of 1099 forms filed by gig workers with the IRS. This number has been growing rapidly over the past few years with around 80 million 1099 forms filed by gig workers in 2010 to almost 95 million forms in 2014. What are the trends that people can expect with the gig economy in 2017?
Virtual Teams Will Become More Common
Most people think about going to work in the traditional sense; however, many people are choosing to work from home. This has numerous benefits on the employee’s end because they don’t have to get dressed up, sit in traffic, or feel like they’re being watched by a boss at all times. On the other hand, this has numerous benefits for people looking to hire staffing services in the gig economy because giving people the ability to work from home increases the size of the talent pool. Hiring services will have access to more people than ever because they will not have to limit their talent pool with geography. This kind of flexibility promises to lead to an even larger growth in the gig economy moving forward.
Hiring Services Should Look for Independent Consultants Instead of Large Teams
One of the ways that many businesses looked for help with large projects is to hire a large team to tackle the project. With the development of technology and the ability of modern computers, businesses looking to hire a staffing service can often hire an independent consultant instead of a large team. This will have a major impact for businesses looking to hire a staffing service because hiring once person is significantly cheaper than hiring a large team. Furthermore, an independent consultant will have more freedom and latitude to handle the project in a way that fits their expertise. This leads to a higher quality finished product. Technological advancements have made this trend a reality.
Businesses can Handle More Projects at Once
Because of the shift towards smaller teams and independent consultants, businesses will be able to hire more independent consultants to tackle more projects at once. This means that businesses can move more projects down the line at once. This kind of efficiency is important because consumer expectations are changing rapidly in the wake of increased technology. Businesses that are best able to handle the changes in consumer expectations and the staffing services industry will be best-equipped to compete in a global economy. The gig economy is growing quickly and is here to stay.