The Impact of COVID-19 Pandemic on the Gig Economy

Posted 8-Apr -2020

Every country is doing its best to contain the spread of coronavirus contagion that imperils lives and economy as well. The panic has indeed forced businesses to shift their workforce’s landscape towards the gig economy and the technologies that allow business leaders and professionals to connect and collaborate effectively.

SV Nathan, the chief talent officer of Deloitte quoted, “This is a great time for the gig economy. It will see a new overlay of talent that has always been hesitant to come out in the open.”

There are various benefits of hiring gig workers and independent consultants. Listed below are six of them –

Skilled & Experienced Professionals

Hiring freelancers ensures that you bring well-trained and experienced remote working professionals on board. People who are a part of the gig economy for years now understand the pros and cons of working from home and know how to overcome the challenges for productive and effective work.

These people know how to turn these trying times into an opportunity to thrive in their careers and make remote working the future of work.

Clip Out Overhead Costs

Retaining an existing employee not only involves the cost of the employee but there are various overhead costs as well. Due to the current crisis, organizations are looking at the ways to cut down expenses and entailing overhead costs in such scenarios is just unreasonable.

Hiring remote workers can help businesses diminish workforce size, reduced travel time for employees, and decrease in multiple overhead expenses.

Inclusive Workforce

Whether we accept or not, but there are many unconscious biases that people from different walks of life had to go through when working from the office. Be it affinity bias, gender bias or beauty bias, a lot of talented professionals miss out on life-altering opportunities due to these ever-existing setbacks.

Remote working gives every employee an equal chance to perform and showcase his/her skills, without focusing on his/her appearance and gender. It also provides people from the same or distinct teams an opportunity to connect and collaborate more effectively through virtual mediums.

Eradicate Office Conflicts & Politics

There are higher chances of conflicts and disagreements between people and teams when working in the office than working from home. Professionals who are experts at working remotely work with a clear goal and focused mindset of complete the given tasks with maximum efficiency and productivity. Thus, they tend to avoid unnecessary hurdles of team disputes and clashes and make sure to encourage everyone to work towards the same objective.

Increased Productivity & Efficiency

It’s been observed that people are more productive when working from home than working on site. The flexibility and the opportunity to pursue other interests while managing your work are the two main reasons for improved productivity and work efficiency.

Some of the key reasons for increased productivity are – no more commutes, fewer distractions, self-built workspace, and virtual communication.

More Employment Opportunities

The current situation presents an opportunity for many who were on a break from work due to family or personal reasons. Since the majority of companies are now enabling their employees to work from home or are willing to hire freelancers for time-bound projects, such people can also resume work and contribute to the country’s employment rate.

However, it’s too soon to predict anything or how the future of work will look like but cashing in the gig economy is surely a good way to contain the dip in business during these trying times.

Hire freelancers from Noble House today: http://thinknoblehouse.com/signup-consultant

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