How The Gig Economy Will Change In 2017

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The gig economy for several years has been rising because many workers in the UK are opting as contractors and freelancers to engage in short term contracts that vary from a few minutes to a few weeks.  Also in the economy it is seen that there is definitely an increase in permanent staff moving into the contracting world.

Major companies such as Uber, Task Rabbit and Upwork results in ‘gig’ work being increasingly popular and easy to find. The regular 9-5 is something slowly declining as seen to be mundane and repetitive compared to ‘self-employment’. Thus, has resulted in a global landscape change for workers. This is a trend that is only going to persist to grow, creating more opportunities for candidates, employers and recruiters. Continue reading to explore more on this topic.

The gig economy for candidates offers a lot of flexibility, and a lot of competition from their clients for their service. There is always a risk factor when leaving the permeant employment but for most contractors their skill sets are in high demand which reduces the risks and can heavily benefit them more being an independent body.

For employers, it is also a positive as it would solve the long application process as well as along with being a cheaper alternative and widening the marketplace.

It gives recruiters involved in the gig economy brand new opportunities, and as it grows many have established desks that only recruit for these placements. Savvy recruiters can make the most of this new gap in the market, even though Gig margins may only be small, but with such a large talent pool to select from they can still benefit.

However, there are some issues that gig economy brings through separate difficulties and issues. Managing this new development has taken governments worldwide to adjust the rules and regulations to manage this new workplace. Previous effective inventiveness such as the National Minimum Wage and guaranteed pension contributions are annulled by the gig economy, meaning that established regulations to safeguard workers are now irrelevant for many. 

Businesses such as Uber, are taking off in the economy movement undertaking major growth in the gig game. Even though Uber directly doesn’t own any cars and has a handful of permeant employers, it is still predicted that they have over 42,000 drivers in London by the end of 2016, increasing from 16,000 n 2015.

For the UK to fully benefit from the various prospects from the gig economy, it is necessary for government and simultaneously big businesses to tackle and embrace the concerns that are starting to appear. Although the gig economy is allowing great opportunities, it is crucial to success that any issues and potential concerns are addressed.

Written By Nicole Payne – Marketing Assistant at Churchill Knight & Associates Ltd.

 

 

 

 

 

 

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