Originally published in Forbes.
According to Gallup, 36% of U.S. workers (freelance or independent) engage in the gig economy (also called the liquid or alternate workforce) for a primary wage or to supplement their current income. There is no doubt this number will continue to rise as millennials and Gen Z workers demonstrate an increased propensity for gig work as they look for a greater work-life balance. At the same time, they are learning to maximize the value of their skills and talents by working in certain roles at a certain time of day or day of the week to maximize earning potential.
As a result, organizations are beginning to evolve their position on what constitutes a full-time employee and develop larger part-time workforces. According to the Intuit 2020 Report on the future of gig work, more than 80% of large U.S.-based companies will greatly increase their use of nontraditional workers in the coming years. Based on our experience of leading a number of executive strategy sessions in the past six months, many executives believe freelance workers will account for an increased share in their organization’s workforce in the near future. So, there will continue to be significant growth in gig economy workers.
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