The future of work: Remote jobs, automation and the gig economy

In recent years, the traditional workplace has undergone a great many changes. Decades ago, the internet began digitalizing many of our assets and work processes; fast forward to today, and it's completely revolutionized how we work.

Automation has been around for years, communications occur effortlessly across the globe, and more and more business is transacted online. This, coupled with the recent pandemic, has forced us to reconsider how employees get their work done. Employees are increasingly contributing to projects remotely instead of operating in offices, and employers have access to global talent - now more than ever before.

All that to say, it?s no wonder the gig economy is thriving. With that said, below, we?ll discuss how the gig economy impacts the workplace paradigm and recruitment trends. There's plenty to sink our teeth into, so let's dive straight in!

What's The Gig-Economy?

For the uninitiated, here?s a quick definition of the gig economy: an umbrella term describing a labor market comprising short-term contracts and freelance work. I.e., not permanent, full-time work as a traditional employee.

For years, the gig economy has played an essential role across various industries. It was at first prevalent in sectors like hospitality, where seasonal workers might be called into the workplace on an as-needed basis.

The number of global gig workers is expected to rise to 78 million in 2023

50% of freelancers are skilled workers in fields like IT, programming, counseling, and marketing.
36% of freelancers freelance as a full-time job.
86% of freelancers think the best days for freelancing are still to come.

By the end of 2023, 52% of workers are predicted to have spent some of their careers as independent workers.

As we've already said, the pandemic introduced remote working in a big way. Moreover, it gave a large portion of the workforce a taste of working from home on their own terms - and people like it. When offered the opportunity to work remotely, 87% of workers take it.

Remote work introduces flexibility like never before. For example, people can care for their children while they work, work the hours they feel most productive, and complete chores throughout the working day.

With that said, it's no wonder that 49% of gig workers named the ability to set their own hours as the most significant draw of working in the gig economy. In fact, 63% of gig workers claim they would prefer a flexible working schedule to a bigger salary.

The lesson to be learned here is clear: Businesses that embrace flexibility are more likely to attract and retain talent. But there?s more. Flexibility goes both ways - employees aren't the only ones to benefit.

By embracing the flexibility of remote working, businesses can hire talent from all over the world, enabling you to benefit from expertise and skills that otherwise might have been inaccessible.

But, more specifically, when hiring freelancers working remotely, your business could save money. Instead of hiring lots of full-time employees, companies can cut overhead costs by dipping into the gig economy just when a project demands an extra pair of hands. Interestingly, in one study, 43% of organizations hiring gig workers saved at least 20% in labor expenses.