The Gig Economy Is Here To Stay – And That’s Not A Bad Thing!
The term ‘gig economy’ was hardly in our vernacular 5 years ago but it’s come to be more than just a buzz word, with contract and temporary contracts offering individuals and employers alike, a viable working alternative.
While gig economy conjures up images of taxi-hailing services, food delivery and zero hour contracts, it also encompasses those working in the professional services industry on a temporary and contract basis.
Emerging from the financial crisis, which at its peak saw unemployment in Ireland at 15 per cent, attitudes towards the permanent, pensionable job changed. As people turned to temporary or contract work, often out of necessity, they also came to see the advantages associated with it.
As we return to full employment in Ireland, individuals are now turning to contract work out of choice, realising the benefits from a personal and professional perspective that a flexible, adaptable, and agile working environment brings. It can offer people more control over work/life balance while allowing them to gain experience in different industries and sectors. For employers, contract workers offer expertise in their field and provide an immediate and real impact to a department or project.
An estimated 200,000 people in Ireland are working on a temporary or contract basis across all sectors according to a February 2018 report from the Economic and Social Research Institute. We’re seeing at IT Search that the market for contract work for professional services in Ireland in 2019 is 15 to 20 per cent more active than it would have been in 2008, at the start of the recession. Job satisfaction doesn’t suffer either from being a temporary or contract member of staff, the same ERSI report found that it was at the same level as permanent employees.
Hiring Contractors is a relatively smooth and seamless process with the lead in times to offer and acceptance much faster as opposed to a permanent engagement. In addition, post compliance checks, a contractor can set up an Irish Limited Company quickly through one of our trusted umbrella companies that we have been working with for a number of years. Furthermore, due to our subject-matter expertise we have verticalized the market in terms of niche skills and have candidates ready to start projects within days as opposed to months on a permanent hire. We have worked with our clients for an extensive period of time, understanding their needs on temporary staffing, and can utilize our excellent pool of resources swiftly and efficiently.
With advancements in technology and the adaptability it brings, contract and temporary work are only going to grow in the coming years as people look to alternatives to a permanent, office based job which offers them the chance to manage their working life. As companies work to attract talent, offering a level of flexibility will come to mean as much to professionals as pensions, holidays, health insurance and all the other trappings of a permanent, long-term role. The opportunity is here for both companies and professionals to explore how they work. For companies, they can look at their staffing requirements and ask if they really need 100% permanent staff, could the do with 60% permanent, 40% agile which can be moved and shaken up as needs be? For professionals it gives them the chance to question if the way they currently work, works for them and consider if there is a better alternative that offers them more control over their work life.