The Rise of the Gig Economy

 

The Workforce Transformation

A recent study, which surveyed 1,989 office workers, showed that, out of the eight hours worked in a day, the average office worker is only actually productive for 2 hours and 53 minutes. Those surveyed cited making food and drinks, checking social media, taking personal calls, and even searching for new jobs as some of the many distractions keeping them from actually working. So, employers are facing a new contentious subject: given these figures, is the eight-hour workday too long? Or, perhaps is there another solution?

In many cases, businesses have been opting for an entirely different method of managing productivity—not with employees, but rather with contractors. The advantages brought by today’s growing workforce of agile, contingent laborers are evident in several ways: according to a market study performed by Mavenlink, 77% of executives stated that it is easier to get approval to hire a contractor as opposed to a full-time employee; 79% agreed that an “on-demand” workforce is a competitive advantage; and 61% of businesses say that agility is critical to success in an evolving market. A study by Intuit predicts that by 2020, 40% of American workers will be independent contractors.

Telecommunications Case Study – Work is Changing, We Must Too

Workforce transformation is analogous to the recent rise of streaming services, which has grown to supplant cable television and turn into a multi-billion-dollar industry in recent decades. If we look at the history of Telecommunications, the transformation has highly impacted the way we work.

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