Leveraging the Gig Economy and Market to Boost Brand Success
Today’s tech makes it possible for businesses to thrive in this fast-paced world. Despite the many barriers stopping businesses from running a successful brand, leveraging tech proves to be one great way to achieving business goals. From effectively marketing your brand to boosting customer engagement, some innovations can help you attain your objectives.
What Is the Gig Economy?
The gig economy refers to the on-demand workers found worldwide. Talents all over the world chose to do freelance work and offer professional services to brand owners. Leveraging the gig workforce enables brands to enjoy many perks, including the following.
Selecting the Right Candidates with a Less Tedious Process
Finding, screening, and training the right applicants can be time-consuming. It takes a considerable amount of time to check and thoroughly investigate an applicant’s skills, experience, and expertise. With the gig economy, one can reduce the vetting time by half and access the right talent at the soonest time possible.
Reduce Onboarding and Overhead Costs
One can spend hundreds of dollars onboarding a single recruit at a time. With the gig economy, you can already access a pool of on-demand workers every time you need them. This means you can save a considerable amount of cash every time you welcome a professional aboard and compensate them for a job well done.
Tap on Today’s Largest Workforce Cohort
More millennials, today’s largest generation in the workforce, are more welcoming to the remote work lifestyle. Their quest for work-life balance made them look for alternatives when trying to make a living. They are also among the growing population of freelancers looking forward to work for businesses needing independent workers to get things done.
By taking advantage of technology, you can get ahead of your competitors. You get to entice millennials into working for your brand. This also helps you to fill empty positions with the right talent.
Keeping Gig Workers in a Tight Labor Market
It can be tricky to keep the best gig workers in the market, especially when you cannot oblige them to stay. They usually work with on-call, temporary, or freelance work. This makes it more difficult to retain the talents you need.
Know that businesses should be careful in caring for their gig workers or risk classifying on-demand workers as full-time employees. Luckily, there are ways you can go around this and make your gig workers feel like staying under your wing.
Quick and Accurate Payments
Gig workers may love you and your company. But since they are basically running on a thin thread, you want to provide them with enough cushion to keep them from wandering. One way to do this is by offering fast and flexible payment methods to gig workers.
This helps you accomplish many things, including:
- Reduce costs and boost your payroll savings
- Retain the loyalty and trust of your gig workers
- Streamline compliance processes
- Stay competitive
The faster and more immediate you send gratification for their job well done, the more motivated they are to work for you. This is one way to ensure great results in little time. They are sure to return the favor in the near future.
Recognizing Work Contributions
Payments and incentives are a part of your obligations to your gig worker. But one thing that can set your business apart from other businesses is how you recognize their contributions at work. Not all companies make it a point to thank gig workers with a positive work experience despite their timely contributions and compensations at work.
Everyone could use a bit more encouragement to complete projects on time without sacrificing the quality of their work. This is where milestone incentives come in. Every time they accomplish a milestone, their acquisition metrics improve.
When was the last time you offered gig workers a bonus just because? Sign-up incentives never fail to amaze businesses with their performance power. This can be a viable option for those that are still starting in recruiting gig workers.
Asking Gig Workers What They Want
One of the best ways to retain your best gig workers is by asking them what they want. This helps you create programs that will best suit the needs of your workers. A bit of effort goes a long way in nurturing better and stronger relationships with your gig workers.
One of the modern ways entrepreneurs run their brands is through the use of the gig economy. They leverage the freelance workforce to tap on top talents. You may not have the intention of keeping certain talents for long. But creating deeper connections with your gig workforce can help establish your brand as a gig-friendly business.