College Graduates Need a New Skill: Adapting to the Gig Economy

It’s becoming clearer and clearer that the world of work that today’s college graduates are facing is vastly different from the one of their parents’ generation. Long gone are the days when you joined one company, stayed for the next 30 years, and retired with a gold watch. In fact, among jobs held by workers with ages from 25 to 34, the median tenure is just 2.8 years.

Gig Economy = A New Way to Work

Millennials want a new way to work, one where they can have flexibility and more control over their earnings. As a result, the gig economy has exploded with 36% of the US workforce today participating in freelance/gig work. And that number shows no sign of stopping. By 2025 an estimate 60% of us will be working this way.

Gig work is not new to many creative fields. Writers, graphic designers, and music professionals have been “gigging” for years. What’s changed now is the rise of technology created to help connect employers and workers. Gig work has reached nearly every industry as more companies realize the benefits of employing a flexible, contingent workforce.

The Gig Economy in the Classroom

And now, even Universities are jumping on board with entire classes and curriculums dedicated to preparing soon-to-be graduates on working in the Gig Economy. According to a recent article by Quartz, the MBA program at Babson College created a new course called “Entrepreneurship and the Gig Economy” and the University of Michigan’s Ross School of Business has an undergraduate senior capstone class, “Thriving in the New World of Work.” By studying the history of the gig economy, and how to understand and interpret the needs of workers and companies in the gig economy, students are better prepared to lead teams at gig-economy companies, overseeing gig workers, or work within this new workforce themselves.

About Allwork Inc.

AllWork helps companies more efficiently hire and manage temporary and flexible labor without the need for antiquated and expensive temporary staffing agencies. AllWork provides one end-to-end platform combining data, workforce management software, and payments to make it easier for companies and workers to connect in the Gig Economy.

For more information, or to see a full demo of the AllWork platform, contact us at info@allworknow.com or schedule a demo here.