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Sharp Rise in Gig Workers: Upwork Shares That 36% of the Workforce Freelanced During the Pandemic

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The Freelance Forward: 2020 by Upwork reveals that the freelance market has gauged the attention of the younger generation, with 50% of the freelancers being Gen Z. What does this mean for the gig economy? How can organizations prepare to cater to the booming freelance market?

Freelancing was considered an option to explore only after retirement or due to certain constraints. It was viewed as a step that individuals are compelled to take. The pandemic has turned the tables and freelancing has become a matter of choice, amongst many individuals.

Upwork has released a new study “Freelance Forward: 2020” which is a detailed analysis of the independent workforce. As per the study, 36% of surveyed workforce freelanced even during the pandemic, and more and more of the younger, highly skilled professionals are shifting to this form of flexible alternative, from traditional employment. The impact on the economy has been so significant that this workforce is expected to grow larger in volume. Freelancers have contributed $1.2 trillion to the U.S. economy by way of their annual earnings and this is a big 22% increase since 2019.

The gig economy has come a long way from when it was seen as the last option and full-time roles as the top priority, to freelancing becoming the first option for many workers. This transition was slower before the pandemic since most gig workers do not work from the office. But with the onset of the pandemic, it didn’t matter where the person was working from as along as the results were delivered. This shift in mindset was the impetus for the rise of freelance workers.

Younger Freelancers Are Increasing

As per the data, the freelance workforce is getting younger: 50% of Gen Z workers (age 18-22), 44% of millennials (age 23-38), 30% of Gen X (age 39-54), and 26% of boomers (age 55+) freelanced. There could be multiple reasons for this but essentially it is compounded by the fact that due to the pandemic, the job market for college graduates has been a challenging one.

Hayden Brown, president and CEO of Upwork, says, “It’s no surprise that freelancing is on the rise, especially now that we have fully disentangled ‘where’ we work from ‘what’ we work on. Amid all of the uncertainty brought about by COVID-19, the data shows that independent professionals are benefiting from income diversification, schedule flexibility, and increased productivity. At the same time, companies are finding that these professionals can quickly inject new skills and capabilities into an organization and strategically flex capacity up and down along with changes in demand and workloads. We expect this trend to continue as companies increasingly rely on freelancers as essential contributors to their own operations.”

HR Technology News: Healthcare Sector Enters the Gig Economy: Nurses Join ShiftPixy Platform

How Do Companies Need to Prepare?

With the rise in younger workforce opting for a more balanced approach to work and life, organizations need to quickly equip themselves with the tools and practices that can support such a workforce.

Tools, Software and Partners

As the proportion of gig workers is increasing, investing in software and tools that can allow organizations to manage them effectively is important. Some mobile workforce software might also be relevant for this segment and should be evaluated. This will also involve collaborating with vendors who have a robust contingent workforce program for the organization to adopt and implement as well as partners who contain the databases of such talent that companies can source from.

Policies

Most firms do not have clearly defined policies for their gig workers. Except for contracts that mainly focus on what needs to be delivered and the remuneration for the same, there is hardly any other data. For permanent employees, there are detailed policies and handbooks. Perhaps it is time for organizations also to adopt such a comprehensive approach towards their freelancers. There have also been ongoing discussions about governments taking steps to safeguard gig workers by creating defined wage policies.

HR Technology News: Weekly HR Events Watch: Upwork to Host 4th Annual Work Without Limits Summit, and More

With the rise of the gig economy continuing, companies and governments need to join hands to ensure that this segment is not neglected due to the lack of right tools, support, visibility, and fair pay.

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James Gunn Reveals Kevin Feige’s Reaction To The Suicide Squad Gig

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Kevin Feige could have been frustrated or annoyed that James Gunn was going to work for “the other guys,” but instead, he just wanted to see a good movie. And in the end, that’s the case for all of us, right? You might have a particular love for Marvel Comics or the MCU, but if you like superhero stories in general, then you’re going to want every one of them to be good, even the ones made by “the competition.” And Kevin Feige is working at Marvel Studios now in part because he’s as much a fan of superheroes as anybody.

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Gig companies break $200M barrier in California ballot fight

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A Lyft ride-share car waits at a stoplight in Sacramento, Calif.

A Lyft ride-share car waits at a stoplight in Sacramento, Calif. | Rich Pedroncelli, File/AP

OAKLAND — California officially has its first $200 million ballot campaign, courtesy of the homegrown tech industry.

Proposition 22 always figured to be an enormously expensive fight. Five gig economy firms invested $110 million just at the outset of their effort to exempt themselves from a new state law that could force them to treat app-summoned workers as employees rather than contractors.

The campaign has lived up to those expectations. A late October $3.75 million outlay from DoorDash pushed proponents’ fundraising total to roughly $203 million. Virtually all of that has come from five companies trying to preserve their contractor-reliant business models: Uber, Lyft, Postmates, Instacart and DoorDash.

The implications: The Prop 22 campaign has always been a financial mismatch. While organized labor wields significant sway in California politics, the union-driven opposition campaign has pulled in about $20 million. That used to be a decent sum in California ballot campaigns, but is merely one-tenth of what their opponents have committed.

Despite those lopsided numbers, which have helped the yes side saturate California’s airwaves, polling suggests Prop 22 could fail. A Berkeley IGS poll this month found the measure short of a majority, claiming support from 46 percent of likely voters.

The bigger context: Before this, the fundraising record for a single side of an initiative campaign was the roughly $111 million kidney dialysis companies spent in 2018 to beat back Proposition 8. The tech industry was poised to shatter that from the start.

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Global Gig Economy Platforms Market 2020 Growth Potential, Production, Revenue And COVID-19 Impact Analysis 2025 – re:Jerusalem

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The "Gig" Is Up - What Is The Gig Economy? What Does It Mean To You?Fabrik  Brands

The latest report titled Global Gig Economy Platforms Market 2020 by Company, Type and Application, Forecast to 2025 presents a huge platform for different firms, manufacturers, and organizations that compete with each other for offering reliable products and satisfactory services to their clients. The report contains inclusive details pertaining to this business space and provides evaluate data of the global Gig Economy Platforms market and its rivals on a global basis. The report highlights the market dynamics such as the numerous driving forces responsible for impacting the outlook of this industry as well as the risks that this sphere is defined by, and finally the innumerable growth opportunities prevalent in the marketplace.

The report provides information about the previous and current status of the market at a worldwide level. Detailed research and exhaustive investigation of the market development has been given and then theoretical analysis, technology-based ideas, and its validity have been mentioned. The report includes a description of the factors that are expected to enhance and downgrade the growth of the global Gig Economy Platforms market profound explanation of the markets past data with the current investigated data and a forecast of the development trend of the market for 2020 to 2025 time-period.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

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In This Report, We Analyze the Market Industry with Respect To two aspects.

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The study provides explains all circumstances within the major players in the market. The report also includes the company’s active in product expansions and innovating new advanced technology intending to develop huge opportunities for the global Gig Economy Platforms market. Drivers and opportunities are elaborated. Along with the recent trends, the report focuses on the upcoming innovations.

Key players of the market mentioned in the report are: TaskRabbit, Fiverr, HopSkipDrive, BellHops, Upwork, Guru.com, Favor Delivery, Rover, Freelancer, DoorDash, Turo, Twago Enterprise, Handy

This report segments the global market based on type: APP-based, Website-based

Based on the application, the global market is categorized as follows: Freelancer, Independent Contractor, Project Worker, Part-Time, Other

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This report studies the top producers and consumers, focuses on product capacity, production, value, consumption, market share, and growth opportunity in these key regions, covering: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)

The report offers a detailed analysis of the development of the market during the forecast period. Further, the report also reviews the market in terms of value and size across diverse regions. Additionally, the report involves the value chain analysis which denotes workflow in the global Gig Economy Platforms market. Furthermore, the market has been classified on the basis of category, processes, end-use industry, and region.

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