January 23, 2020

Forbes: How Organizations Can Prepare for the Gig Economy and a Changing Workforce

Our Swapna Sathyan has authored a new piece for Forbes focused on how organizations can prepare for a changing workforce.

In the article, Swapna shares that “35% of the nation’s workforce freelanced in some capacity last year…and it’s hard to imagine the gig economy slowing or weakening significantly anytime soon. In fact, colleges and universities are beginning to create courses to help students build successful careers in the gig economy.

While it’s hard to know exactly where the gig economy is headed, there’s no doubt it presents significant uncertainty and change for employers everywhere. As organizations’ ratio of permanent to contract and gig workers shifts, they should evolve how they design workplaces for remote, blended and flexible teams, as well as how they approach performance management and instill data security models.”

Swapna’s full article can be read online at Forbes. Here’s an excerpt:

Commit To Data Analytics
In the gig economy, data is invaluable for understanding a shifting workforce. Here are some of the ways data could help businesses:

  • Performance metrics: Gig work doesn’t apply uniformly for every organization or every team within an organization. It may include aspects of remote work, contract work or freelance work and may be performed individually or on entire teams. Compare performance, effectiveness and efficiency data for different models, teams and departments to help inform operations, hiring and team-building strategies.
  • Workplace operations and maintenance (O&M): Since the future workforce may not need to be in the physical office regularly as it was in generations past, organizations should leverage their utilization data to study peak hours of building use. Know when and which spaces within your workplaces are most heavily used to allow your organization to optimize real estate, efficiently manage scheduling of spaces, appropriately invest in new amenities and promote energy efficiency.
  • Workforce satisfaction: Engaging a workforce that is a combination of part- and full-time employees, in-person and remote workers, contract and flex employees, and the gig component will require a focused talent strategy. With the reported shortage of key talent in technical and technology roles, workforce satisfaction can be an important indicator of performance and can help an organization maintain its competitive advantage.

In addition to assimilating and analyzing relevant data, it will be important for organizations to create mechanisms to monitor information continuously and implement a predictive analytics strategy to anticipate challenges, prevent data lag and allow for timely adjustments to their workforce and workplace.

Learn more about our workplace strategy team >