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How Have Gig Platforms Improved Business Operations? Here's What You Should Know

Gig platforms have recently become increasingly popular for businesses to connect with freelancers and other independent contractors. These platforms provide a convenient way to find and hire workers for short-term or one-time projects, and they often offer a more affordable option than traditional staffing agencies.

Posted: 2nd August 2022 by Finance Monthly
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Gig platforms have also been praised for their ability to help businesses improve their operations. For example, by using a gig platform, businesses can more easily scale their workforce up or down to meet changing demands. And because businesses can access a global pool of workers on these platforms, they can tap into new talent pools and get work done faster. So how exactly do gig platforms improve business operations?

Easier To Find And Hire Workers

Human resource is one of the most important—and expensive—aspects of running a business. Staffing agencies can cost businesses thousands of dollars, and finding and hiring workers can be time-consuming.

Gig platforms have made finding and hiring workers for short-term projects easier and more affordable. With a few clicks, businesses can post their project on a gig platform and receive applications from a global pool of freelancers and other independent contractors.

More Jobs For Underemployed Workers

Gig platforms have also been praised for creating more jobs for underemployed workers. For example, a recent study found that 36% of US workers are part of the gig economy through primary or secondary jobs. And of those workers, 53% said they joined the gig economy because it was the only work available to them; many of them did this work through the ten most popular gig platforms shown in this image via Compare the Market business insurance. This is good news for businesses, too. By tapping into the gig economy, businesses can find high-quality workers who may have otherwise been unemployed.

Gig apps

So not only do gig platforms provide a convenient way for businesses to find and hire workers, but they also create more jobs for underemployed workers.

Better Employee Salaries And Wellbeing

Not only do businesses save money on staffing costs with gig platforms, but they can also offer their workers better salaries and working conditions.

One study found that the median hourly rate for workers on gig platforms is $31, compared to $15 for traditional employees. And because workers can choose when and where they work, they have more control over their schedules and can often find gigs that fit better with their lifestyle.

This can lead to improved worker satisfaction and wellbeing, which can, in turn, improve productivity and results for businesses.

Increased Flexibility

Flexibility is another key benefit of using gig platforms. Because businesses can hire workers for short-term projects, they can more easily scale their workforce up or down to meet changing demands.

This can be helpful during busy times, such as the holiday season, when businesses need more workers to handle increased customer volume. And it can also help businesses save money during slower periods when they can reduce their workforce and avoid paying unnecessary wages.

Gig platforms have improved business operations in several ways. They've made finding and hiring workers easier, improved the wellbeing and salaries of employees, increased flexibility, and created more jobs for underemployed workers. Gig platforms are worth considering if you're looking for a way to improve your business operations.

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