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How To Maximize A Limited Labor Budget With Gig Work

Posted on November 21st, 2017 with No comments

Contingent Workforce ManagementBy: Trevor Foster, Vice President of Finance and Innovation  

Published By: Young Upstarts. 

Part of leading a small business is doing more with less, and labor costs are no exception. To compete with larger peers, most small businesses simply can’t afford to offer full-time positions with benefits.

Technology is shrinking the world every day, creating a marketplace where businesses find themselves competing with companies around the world for workers and consumers. Fortunately, this has enabled workers to specialize in a way never before possible, selling only their most valuable skills to employers at a higher rate, albeit in smaller chunks, than full-time work allows.

This is a beautiful change for small businesses, too. In a gig economy, businesses buy exactly what they need from exactly the right person in the exact amount needed. The worker sells what’s most valuable about his skills, and the company buys only the best that worker can give, reducing waste in both sides of the process.

The key to tapping into the gig economy’s efficiency gains is to view it as an opportunity rather than a threat. Gig workers, believe it or not, tend to be less expensive and better employees than their full-time peers.

 

Read the full article here and learn three ways you can make gig work optimal for your business. 

 

 

 



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