How can firms continue to be competitive in attracting and keeping talent when more professionals are choosing the benefits of the gig economy. According to data, there will be over 70 million freelancers working in the USA in 2022, up from 58 million in 2021. As professionals look for freelance contracts and contract work to augment their full-time incomes, the gig economy is growing in popularity.
The modern worker is attracted to having greater control over your career, setting your own prices, and choosing your tasks. It might be challenging for some companies looking for full-time staff to draw in talent. How can you retain and recruit staff while competing with the gig economy?
Why workers prefer the gig economy
In addition to helping you and your staff maintain and recruit top people, retirement funds prepare you for stable financial futures. To guarantee that you spend less time maintaining your 401(k) plan and more time running your business, it must have straightforward plan options and minimal administrative requirements. Sixty-seven percent of workers think burnout has gotten worse since the outbreak. The majority of businesses deal with severe workplace issues like a hostile work environment, significant staff turnover, burnout, decreased productivity, and silent resignations. Employees who are dissatisfied at work and who want autonomy over their careers tend to leave discreetly or put in the bare minimum of effort. Due to businesses’ ignorance of employee worth, which exceeds 50% of the workforce today, mass resignation and disengagement tendencies will persist until this situation improves.
Recruitment strategies to compete with the gig economy
Small companies may thrive when recruiting during a labour shortage by being prepared and being creative in their recruitment methods to draw individuals who would choose to choose full-time freelancing employment. The tendency of employees leaving discreetly is a result of companies’ ignorance of their workers’ aspirations, requirements, and fundamental principles. The majority of firms are not aware of professional values, therefore until that situation improves, the trend of resignation and disengagement may persist.
Ask your team for referrals
Independent professionals find the gig economy appealing since it lacks the rewards and fulfilments of cooperation with shared vision. Employers ask for talent recommendations from existing workers who can sell potential applicants on the benefits of the workplace culture. Small firms may utilise their current employees and ask for employee references, which is a terrific way to find fresh talent. Utilize your advantages to discover new teams while fostering a supportive atmosphere for team members who are currently working together.
Define core values as a brand
Recognize key team values and motivational forces since each team has its own values. Operations are smoother and more productive if basic beliefs and behaviors come from an energized source.
Make application processes seamless
Job seekers anticipate simple application processes free of technical hiccups. Make sure you hire teams who are aware of the need of well-coordinated operations and provide straightforward, quick, user-friendly, and smooth application procedures using mobile-optimized technology. It is possible to allocate extra time for evaluating applicants by optimizing routine chores for data collecting from applicants and scheduling periods.
Be flexible and concentrate on results
In December 2022, it was said that 25% of professional occupations would be performed remotely. Flexibility requirements, a major attraction of the gig economy, are to blame for the rise in remote employment. To attract and keep talent, concentrate on outcomes, and allow employees to pursue goals that are important to them, employers must be flexible with regard to employment terms. Doing what they love is preferred to unfulfilled, unproductive lifestyles. Workers are given the chance to achieve that when flexibility is prioritized.