Advantages Of Leveraging Gig Manpower For Your Business
The dawn of new and disruptive technologies has always kept bringing about an evolution in the way employees work, subsequently meaning companies need to change their work structure. Increasingly discussions focus on how companies can stay abreast of these changes by reconfiguring their present day business models in a digital world where a lot of work can be done from anywhere, at any time. This allows us to make use of Gig Manpower.
What Is Gig Economy?
The term “job” has evolved recently, & therefore companies need to adapt to new ways of working, in order to stay relevant and agile, to grow. One of the ways businesses are adjusting to the evolving nature of work is by taking part in the gig economy, an economy characterized by the usage of short-term, work based contracts as opposed to permanent jobs that can lead to high employee counts with no relevant workload. Both companies & individuals are beginning to realise that the gig economy is as effective & relevant as any other type of employment.
Nowadays hiring gig workers is no longer restricted to just start-ups. On the contrary, well-established firms are also slowly but surely moving towards a gig economy model because professionals have become used to working in a flexible model.
A recent report published by EY (formerly known as Ernst & Young), was titled “Future Of Jobs In India: A 2022 Perspective”, & revealed that Indian freelancers hold a 24% share of the global online gig economy. The report also stated that India is the third largest online labour market. This dramatic increase in gig economy workers can be attributed to the entrance of millennials, who are known to switch jobs quickly, into the workforce.
Advantages Of Gig Manpower
Not only do the companies have the flexibility of choosing who to hire for and for how long. There is a tremendous impact of the gig economy to be had on organizations growth & success, as it empowers organizations with the ability to hire someone with a very specialized skill set, that too only for the duration of the work project that requires the said skills. Gig workers also help companies control labour costs while saving on resources such as office space or even training. Additionally, this method of employment also allows an organization to have a greater reach across the globe as they can share contractual opportunities with experts located on the other side of the globe who could have been a significant risk when being considered for a full-time role.
The gig economy also ensures a level playing field for all companies regardless of their size, companies get access to top talent without having to compromise on their fiscal wellbeing. As things stand the future of work culture looks increasingly likely to move away from strict hierarchies based in a single geographic location, and move towards a network of virtual skilled employees, and leveraging the gig economy is a step toward that transition. Such networks consisting of independent skilled employees will always be better suited to respond to the rapid pace of change in the business world.
The major advantages of leveraging gig manpower for your company can be summarised as follows:
1. Time-Saving Expertise
2. Reduced Overhead Costs
3. Lowered Risks
Make sure your business is not left behind, and reach out to TNT Business services today to find out how you can leverage Gig Manpower.