This is a new era for the economy as the modern workforce is evolving and becoming more and more dynamic. The big step in technological advancements and business networks around the world has enhanced the modern-day employee and employer relationship. Many organizations are now looking to create a more scalable and flexible workforce and environment for their employees. Moreover, a lot of organizations are now willing to invest their resources into a dynamic labor force that can adapt to the efficiency of the ever-changing economic climate.
However doing so is easier said than done – as the type of flexibility related to the workforce depends greatly upon the particular business model and organizational structure. On the other hand, employees are looking for accommodating and adjustable jobs.
Today we will talk about the need for a flexible workforce and why it is so important for the current economy.
What Is the Gig Economy and How does it Promote a Flexible Workforce?
Before we talk about flexible workers it’s important to discuss the concept of the gig economy first. The gig economy is that part of the economy that promotes a temporary labor force and contractual job opportunities. Three main components of a gig economy include gig workers (workers hired for the temporary job), the employer, and on-demand apps that create communication between temporary skilled labor and hirer.
The reason behind the success of gig culture is the flexibility it offers to both employers and employees. Employees have the chance to work on their own schedule to maintain a work-life balance and find desired job opportunities. Whereas the employees can imagery hire on the month employees at reasonable rates.
Hence the flexible workforce plays a huge role in the gig economy. In fact, without the flexible workforce gig economy would not be able to exist.
What Is A Flexible Workforce?
The definition of a flexible workforce is multifaceted and constantly evolving as employees today choose to work in self-employment in comparison to traditional jobs. The flexible workforce is made up of freelancers, remote workers, independent contractors, contingent workers, or part-time employees. A flexible workforce consists of skilled workers who often take up contractual, project-based, or seasonal jobs preferably that can be done remotely.
As stated earlier a flexible workforce looks different for every organization depending upon its size, structure, objectives, industry, and work environment. One thing that should be clarified here is that a flexible workforce while it consists of freelance workers does not necessarily mean that the workers will only perform the job remotely. Any temporary job that gives the employee the autonomy to work on his own schedule (whether remote or not) is a flexible job.
Now that we’ve understood what a flexible workforce is, let’s move on and see why it is beneficial for the growth of modern-day organizations.
Benefits of Flexible Workforce
Hiring a flexible workforce yields a lot of benefits for organizations. Here are the most important ways in which part-time employees can benefit your business:
1. Reduction in Overhead Cost
Hiring part-time and temporary workers can help you reduce related overhead expenses such as hiring costs. It also saves you the costs that come with hiring a long-term traditional employee such as health maintenance, traveling allowance, tax payments et cetera.
2. Access to Top Talent
Thanks to telecommunication, globalization of technology, and internet penetration, it has become easier than ever to communicate with people from around the world. Employees are no longer restricted to demographic, geographic, or legal restraints as they can now attract top talent from all over the world with the help of an on-demand app. Employees can easily hire industry professionals at good rates as there is high competition among online workers.
3. Efficiency and Increased Productivity
Being able to hire anybody at any time is a huge benefit that can result in increased efficiency and productivity. Consumers today expect immediate solutions and responses. With the help of flexible schedules of temporary workers, you can stay in touch with your consumers 24/7. Hence, a flexible workforce is offering flexible business solutions to meet the shifting business priorities. Furthermore hiring top talent allows you to assign specialized tasks to experienced and highly qualified industry experts who deliver speedy results.
4. Competitive Edge
Smaller organizations usually have a harder time hiring industry experts as they prefer to work with big brands that offer high salary packages. Thanks to on-demand apps small businesses can easily hire top talent to work on different projects. A contingent freelance worker does not care about the brand as long as the project or gig adds value to the portfolio and pays well.
5. Return on Investment
In addition to financial savings, easy access to the talent pool, and workflow efficiency, the mobile workforce has a lot of benefits in the long run which include:
The gig economy offers flexibility in the workplace for everyone regardless of their age, gender or location. For the first time in history, the modern workforce is dynamic as ever with women, minorities, and senior citizens having equal job opportunities and the chance to participate in the economy. All five generations can contribute to the gig economy – baby boomers can work after retirement, gen z is earning extra income and Millennials are working multiple jobs. Whether you are a stay-at-home mom or an underage school kid, you’ll have the opportunity to find the right job for you.
7. Loyalty and Trust
The relationship between the flexible workforce and employers today is much healthier and respectful. Both employees and employers are open to communication and negotiations which leads to long-term healthy business relationships based on loyalty and trust.
How to Hire Flexible Workers?
The most efficient and convenient way of hiring flexible workers is through an on-demand platform. There are different types of on-demand apps or online websites that allow you to get in touch with flexible workers and hire them for your project or gig. Some popular examples of on-demand platforms are freelancer, Upwork, ShiftPixy, and Fiverr.
All you have to do is sign up. You can access the on-demand app or website through a customer login profile. The next step is to search for suitable candidates for your task by putting up a post with a job description for the candidates to apply. Select the best candidate for your project and pay them once the job is done and you are satisfied with it. That’s it!
The Future of Flexible Workers
Flexible workers form a large portion of the labor market now and it will continue to grow in the future. Businesses should make the most of this opportunity, be proactive and stay ahead of their competitors by hiring a flexible workforce now. This shift in the labor landscape will allow businesses to hire top talent, promote innovation, develop collaborative workspace and build a successful business model for the future.