C-Suites Agree: Gig Workers Will Substantially Replace Full-Time Employees Within Three Years

This week, management company Mercer released a new report titled “2022 Global Talent Trends Study, ‘The Rise of the Relatable Organization.” Within it, they illustrate a fast-growing Gig Economy and a shift in the attitude of high-level executives toward freelancers. In fact, six in 10 C-suite executives from around the globe expect gig workers will substantially replace full-time employees at their company within the next three years.

The past few years have seen a lot of upheaval in the way we work with more and more people reprioritizing what is most important to them. As a result, there has been a large shift to freelancing. The top drivers for freelancing include increasing earning potential and gaining greater flexibility and freedom.

This year, 70% of HR leaders are gearing up for higher-than-normal turnover and 60% of executives believe that top talent will not return to in-person work. As a result, 74% of HR leaders believe company leadership will have a strong incentive to move remote workers to a freelance model.

Even though the majority of executives believe that freelancing will overtake full-time employment, only 46% of companies have a technology platform in place to ensure transparent opportunities for gig workers and only 37% of organizations are working toward portability of benefits for gig workers. This proves that companies still have a long way to go to prepare for this shift.

Companies hire freelancers for convenience and flexibility of labor costs, two things that everyone needs more of this year. There’s no doubt that freelancers will continue to become a critical part of the workforce for businesses over the next year and beyond.

You can download and read the full study from Mercer here.

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