Collaboration in the Gig Economy
The leading companies in the emerging Gig Economy converged at SIA GigE 2017 conference in Dallas last week. The way companies and contractors align themselves to get project and short term work gets done is constantly evolving. This new evolution goes by many names, the sharing economy, gig economy, on-demand platform economy and it’s the wave of the future. It’s estimated by SIA’s research that the Gig Economy is a $3,500,000,000 global enterprise. The new way of engaging an on-demand workforce is growing. Estimates vary but it’s widely agreed that 10% of the USA workforce participated as a freelancer, independent or B2B worker in 2016.
Key Take-Aways
Some of the key take-aways from the conference for all whom are involved in contingent or on-demand talent engagement were.
- Gig platforms are disrupting traditional workforce intermediaries
- Online staffing and B2B engagement are leading growth in the talent supply chain
- Governments are paying attention to Gig engagement to ensure proper taxation
- Leading legacy Talent Acquisition firms are embracing collaboration rather than competition
- Talent is being identified in almost every country around the world
- There are concerns that the Gig Economy is driving down pay rates to certain classes of workers
- Technology is evolving and enterprise service organizations are looking to compete with start ups
- Blended contingent / freelance / full time workforce with shared objectives will evolve
- Compliance when engaging a Gig worker is key as enterprises don’t want to risk miss classification
CXC Global – 25 Years
CXC Global for the past 25 years has assisted companies with contractor validation and payment solutions that allows for proper classification and risk avoidance. The Gig Economy is upon us and as companies engage global freelance talent directly or via online platforms, ensuring proper set up and timely compliant payments will be the key components to risk avoidance.
If you’d like to speak with one of our team, please contact us.
