Governance

Gig Economy to Become Mainstream in Business

The gig economy has always been present in the business world. We have just not paid much attention to it. The discreet way it worked also made it quite elusive to the loud business world at large. The Technological Revolution that the world has seen in the last few years has made it possible for the gig economy to thrive. There is also a whole new breed of entrepreneurs that has been created by the emerging Gig economy after the technological revolution. The gig economy has evolved over the years and today it stands not only as a part that assists a small scale company but it stands with the big companies shoulder-to-shoulder, as an integral part of their organisation.

It is old news that Uber has asked the Washington State leaders to provide contract workers for them who also have an access to health benefits. It is like an alliance of the gig economy with the policies of a full time job. Surprising, though it may seem it in itself is a tremendous change and policy makers of the industry must look at how to make their company streamline their working with the ways of the gig economy. It is not only Uber but also companies like Handy and TaskRabbit that are taking in a lot of individuals who can take a lot of jobs in their company to help them make an additional income. Looking at the way that the gig economy is growing it is possible that the concept of doing work might also shift to this side of business largely.

Uber in its conversation with the Washington State has raised the concept of ‘Portable Benefits System’. The portable benefits system is a way by which freelance workers can have access from a company to health and retirement benefits. The possibility of this happening is at a conversational level but the fact that the possibility has been raised it is very possible that the business world would, like other concepts, try to make gig economy a part of structured working. However, there is more than meets the eye. A company must make many amendments that are in accordance to the state and local laws of business to accommodate the gig economy.

True the transformation clearly will take some time. But time in business is a very fleeting word and means a different pace to different companies. It is best for entrepreneurs now to understand the paradigm shift that the gig company is going through and if possible accommodate it in its work structure. The gig economy is changing the structure of the business world and it is not limited only to one sector. It has made its presence felt across all the sections of a business world be it technology or the traditional business world.

The gig economy provides quite an opportunity but one question remains. How can you as an entrepreneur tap into the gig economy?
1. You can use the Gig Economy to Staff up in your Peak Business Hours:
Work-on-demand is something that has become very popular with the business world. The success of a company is naturally proportionate to the amount of work increasing. A lack in supply for the demand would again make the company need to start from the basics.

The work-on-demand allows a company to augment staffing of the employees in their busy seasons. Every company from retail to warehousing are looking at work-on-demand platforms. One famous example of this is Papa John’s. This giant posts one-off pizza delivery gigs on an app named Wonolo whenever it feels that it needs extra staffing. Entrepreneurs can use the gig economy like Papa John’s is using.

2. You can use the Gig Economy to Crowdsource to make Additional Deliveries:
Home Deliveries and the accuracy and the availability of the feature is one thing that makes or breaks a business. No longer are people interested in the traditional way of shopping.
This has made the retail entrepreneurs to explore how they can offer individuals the possibility to earn additional money through supporting home deliveries. This thought has already materialised with Amazon Flex that allow people to deliver local Amazon orders.
The concept is gradually growing on the new age entrepreneurs who are in sync with the changing business world. Consumers and businesses alike are now looking at how Ikea would evolve after it Integrates TaskRabbit in its customer services.

3. You can use the Gig Economy to bring on Flexible Hires to your Company:
Entrepreneurs can wish away the lack of workers from their company. The Gig economy is now making it possible for entrepreneurs to turn to online freelance services for hiring flexible workers during a company’s busy season.
Samsung for example is one company that is leading the way by teaming up with the freelancing platform Upwork to meet its requirements. Resorting to Upwork has also helped to reduce the administrative costs of the company. It also helps a company to have an access to a younger and more collaborative workers.

It is clear that the gig economy is here to stay! The convenience of working that it provides to both companies and employees; the flexibility that it adds to an organisation; and the reliable back-up that it provides to an organisation makes all companies big and small want to make it an integral of their business organisation. The gig economy makes business life easier and manageable. It is important that entrepreneurs start to think about incorporating the gig economy culture in their organisation. The companies who have the support of the gig economy is clearly reaping the benefits of its association. It is not only creating a new class of entrepreneurs but is also challenging the way the business world understands work. The way the gig economy is becoming popular it is very possible that it will be the future of the new work culture. Make your company flexible enough to welcome the gig economy and see your company transform.

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SPI Group

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