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Authored by ravi teja

capitalize on the gig economy

Furthermore, frequent gig departures result in continuously losing company secrets, which is a threat to a business. This leads to difficulties for the company to retain its acquired knowledge. Another challenge that businesses face lies in engaging the contingent workforce to stay in the company for the long haul. The “Gig Economy” is prospering and will keep growing. In reality, a more significant number of organizations are influenced by an alternate work system and it is high time for HR leaders to start pondering on practical strategies to incorporate the liquid workforce strategy.

Companies and HR need to focus and invest in competency-based hiring. There must be a unique competency framework aligned with business objectives for hiring a contingent workforce. In addition, the training model needs to be revamped. Organizations must identify and map the skill gaps in your gig workforce to design an effective training program.

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