In fast emerging workspaces, more workers choosing to supplement their incomes with gigs unlocks a range of benefits for the enterprises. Given the connectivity that technology fosters for communication and remote collaboration, companies are no longer required to have all their staff physically present under one roof.
In such circumstances, gig workers who are largely considered economy hires, are fast becoming a priority for companies that wish to cut down on overhead costs. Research reveals that 43% of companies using contingent workers save a whopping 20% on just labor costs. These savings often come from lower overhead expenses such as medical benefits and other work-related perks.
The gig economy also allows enterprises to access global talent and quickly scale their workforce based on current requirements. It provides them with an opportunity to hire experts for specific services which results in reduced go-to-market time for specialized products or solutions. According to new research from Upwork, 40% of businesses preferred hiring gig or contract-based workers because they can be scaled according to business needs. They are also in demand because 39% of organizations feel that the gig economy makes it easier to find skills that match their exact needs.
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