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The BBC defines the gig economy as "a labour market characterised by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs.” And these can include a myriad of jobs but more importantly skills your organisation could be missing out on.
In fact, the gig economy is competing for the exact same talent your organisation is. There are many misconceptions about freelancer workers; that they do unskilled work, are young and inexperienced and people only choose to work out of necessity. However, according to Bounty Job's latest white paper;
- 91% of contract workers on LinkedIn are in their middle or late careers, while more than one-third of millennials are gig workers.
- 92% of people over the age of 65 view gig work as a legitimate career option for themselves.
Furthermore, gig workers exist across all industries and 21% of freelancers provide professional services. A segment of the gig economy that is growing; in 2011, only 4.5 million independent contractors provided professional services. By 2015, that number had reached 6.4 million.
According to the report, there are five top reasons that 54% of gig workers choose flexible work as a way to “pursue their own particular interests,” these include;
- Flexibility in work and life
- Income Potential
- Job Satisfaction
- Better Health
- Security
ALSO READ: Hong Kong is at the frontline of gig economy
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