Today an increasing number of workers are veering off the traditional career path of joining an employer, rising through the ranks and staying for decades. A study by Intuit found that the gig economy is now estimated to be about 34% of the workforce and expected to be 43% by the year 2020. Right now, it is an $800 Billion business. People are freelancing by choice, relishing the opportunity to set their own schedules and choose their own assignments. To compete in the future, organizations will need to push talent management beyond the borders of the enterprise wall to include outside contractors and outsourcing partners or they will be missing out on top talent.
Advantages:
The Gig Economy has presented a major advantage for the media industry as it allows organizations to find more targeted and better qualified creative and technical talent to address their needs—typically at lower costs. Rather than bringing someone in full-time, with benefits and a salary, an organization can hire a freelancer who’s specifically suited to the project. The ability to scale an organization’s freelance workforce at will, with the fluctuation of projects, is also instrumental in driving cost savings.
Disadvantages:
However, the process of recruiting, hiring, and managing freelancers can be unwieldy if there is not a strategic process in place. Just-in-Time Hiring found that 34% of organizations find it hard to manage and communicate with freelancers. Another 36% say they find the process of paying freelancers to be cumbersome. Managing independent contractor compliance and tackling the time-consuming process of vetting freelance talent is also a concern for senior-level leaders. Luckily, that’s where we come in.
A Solution:
TeamPeople has created a national database of over 60,000 talent with strong backgrounds in Creative/Design, Multi-media Production, Editing, Digital Media, Engineering, and AV/Facilities Management. With our Managed Production Services, we have helped Fortune 100's, government agencies, and NGO's drive cost containment while enhancing the value and experience of working with key creative and production talent.
By centralizing workflow streams and creating efficiencies, we have saved our clients time, expanded their internal capabilities, enhanced their brand management strategy, and saved them over 30% in cost savings.
