Intuit, the owner of TurboTax, recently reported that 34% of the workforce is now performing contract work or "gigs," and that number is expected to climb to over 40% by 2020. These stats raise some interesting questions for the mobility world.
The rise of freelance work can make a lot of sense for employees and companies alike. It offers employees flexibility over their work schedule, and the ability to select projects that speak to their personal interests, skills and goals. For the company, freelance work can be hugely beneficial to fill an immediate project need or to serve as a way to get highly specialized talent in the door.
As companies expand their use of contract workers, they’ll be reaching farther for top-tier talent without being restricted by the local talent pool. And while a portion of these freelance workers are sure to fulfill their contracts remotely, others will need to relocate short-term or long-term to the company location. This may leave companies reevaluating their stance toward contract work and relocation. Are they prepared to handle this growing segment? Do they have the policies and procedures in place to accommodate the specific needs of contract employees? And are they taking full advantage of the opportunity being presented here?
The bottom line: As the face of the global workforce changes, will the relocation industry be there to meet it?
This gig economy – where professionals make a living working multiple contract jobs instead of a traditional 9-5 position – opens doors for both companies and professionals. Currently, 33% of professionals work a second job and 56% of individuals believe they will work multiple jobs in the future1. Upwork’s annual report indicates 55 million people are freelancing in 2017. As the gig wagon moves through, here’s what it means for employees and employers.