To stay competitive, organizations are changing the way they look at talent pool & talent acquisition. With the continuous ebbs & flows of the economy & future, more leaders, HR professionals & consultants have seemed to adopt talent which is available throughout the year or “Just in Time”. This trend is giving a new life, a new meaning & a new beginning to “gig work.” Gigs, also known as projects, are becoming more abundant every year. Gig economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments. Gig workers, are the freelance workers, who generally work on a contractual or temporary basis for a specific period. They are hired depending on the organization’s talent needs and requirements. These employees are independent workers & work for more than one company at a time.
A major trend that will influence recruitment in the coming years will be bridging talent gaps that arise within the organization.
As per Transtracks data, there has been a massive decline in the number of permanent employees globally. The main reason being, the new work force are inclined towards more freedom of tasks, flexibility of time & tenure. The traditional way of workers and hiring through traditional channels are slowly becoming obsolete. Employers are no more entirely relying on full-time employees. Many are now tapping into this gig economy talent.
The problems faced & the new avenues opened by the gig economy will shape the future of the team. Though the concept of gig economy was pioneered by startups like Uber, Ola & Swiggy, it is now unfurling into other startups as well. Many other startups that use gig workers have sky rocketed not only within developed markets like the US and UK but also across other developing markets. The concept is evolving faster than expected. According to the one of the recent surveys done by Transtrack, out of the 100 respondents 57% said they would like to take gig work while already in some job. 27% said they would like long term contract with flexible hours & 16% wanted short-term contract or temp work.
Transtrack has been serving since last 14 years in the industry to meet the constantly swinging demand while averting the snag of hiring, training & deploying. Transtrack is known for its unmatchable IT support, which is aimed & tailored for the business/industry-specific needs. Keeping in mind the erratic economic conditions, Transtrack has maintained the services it offers to the IT industry. Whether the requirements have been for large, sustained, or specialized projects that require a specific skill set or certified knowledge, Transtrack has always proven to furnish the best.
No matter what is the nature of the work, Transtrack has committed to add high quality and valuable knowledge to your business. Adding Transtrack’s expertise to your current IT team will be nothing but, a dynamic combination that augments your staff, capabilities and most importantly the business at large.
Transtrack unwinds the gig work space
The growth of the gig economy opens great path for HR professionals. We have come across many tech firms have begun recruiting teams consisting of talents with specialized skills on a temporary basis to meet their project demands. Collaborating with Transtrack, leads to reducing the cost of hiring a full-time employee while having the equally proficient talent pool.
One of the most significant advantages of gig employees is that they have flexible timing and are readily available. Transtrack provides the organizations the opportunities to easily tap the Just in Time workforce to scale up their operations immediately without the hassles associated with full time employee hiring.
Lower your cost with Transtrack
One of the reasons why gig economy is widely spreading across all the sectors is the lower costs associated with it. Because companies don’t have to pay for employee benefits or the on - boarding costs, gig workers often have a lower cost than the regular ones. This allows the employers to reduce costs and pay only for the actual labor that a gig worker does.
Scaling up–The Transtrack Way
Freelancers are available without the need of arranging an office space, computers, and other benefits. The employers just need to find people who are ready to work. Finding such talent is fast with low marketing cost and sometimes through word of mouth. And Transtrack is the answer for your entire recruitment dilemma. We helps companies to meet their goals and demands while still keeping their costs low.
Transtracks extensive talent pool
As gig workers are very flexible, getting work done from them becomes very easy. These workers are at the disposal at different hours from normal business, so getting something done is less difficult. These workers also are available on weekends, which gives the organizations more work option and flexibility. Different skill levels & various age experiences help organizations to utilize the workers based on their skills.
The gig economy has existed since long, but organizations have been doubtful about it, until recently.
The pandemic has amplified the need of temporary work force rerouting the organization to gig
economy. Though, the Gig economy is in its stage of infancy, the new generation, though still working full
time, is absorbing the temporary job concept fast.
When selecting the right team, make sure it allows your business to get the best, without the increased burden of over staffing & on boarding. Transtack is the one you can trust with your hiring. We understand your business and deliver the utmost results, whether you need a single specialist or to outsource an entire project.