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5 Ways Companies Can Benefit from the Gig Economy

by Kristina McMenamin, on Jun 5, 2018

  1. By following talent to where the talent is already going (35 percent of the US workforce is now freelance), you’re likely to get higher quality talent.
  2. You can hire the right talent for the right moment. Businesses are changing more rapidly than ever before. Today, you may need help building a financial model or marketing plan and tomorrow someone to execute on that model or plan. The builder and executor are typically two different people with different skill sets. With the gig economy, you can work with both.
  3. You’ll save time vetting talent. For example, to be accepted into Paro’s network of on-demand finance professionals, each person undergoes several rounds of interviews, a personality assessment, and they must complete a competency test and practice project. Less than the top 5% of talent who apply are accepted. We do the screening so you don’t have to.
  4. You’ll save money: freelance talent is less expensive than full-time talent. A full time employee typically costs a company 1.25 to 1.4 times the employee’s base salary or that of an equivalent independent worker.  
  5. You may end up with a more engaged, happy workforce. Of course, you’ll just have to change your definition of workforce first.
Topics:Gig economy