The Rise of the Gig Economy offers vast benefits to Telecommunications Companies

 

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Size of the Gig Economy

US – close to one-third of working Americans are involved, at least on a part-time basis, in the gig economy[1]

Europe – 94 million[2]

Japan – 17 million[3]

China 201 million by 2020[4]

Asia-Pacific (not including China and Japan) – 34% of the workforce[5]

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Telecommunications: New Rules of Engagement in the Gig Economy

The rise of the gig economy offers vast benefits to telecommunications companies

The gig economy is on the rise all across the world, and it can be the answer to the telecommunications engineering talent supply challenge.

Freelance telecommunications engineers who work flexibly can reduce the burden on the supply chain, increase operational efficiencies and reduce project costs. Attracting and retaining top talent has been a consistent challenge for telecoms companies and this could be the answer to acute talent shortage.

In a study by the Human Capital Institute, 69% of respondents reported that outsourcing and temporary staffing significantly improved the organization’s talent quality. For instance, AMP, Australia’s largest insurance company, requires half of its 2,600-engineering workforce to be filled by contractors to ensure current skills are shared within the organization. [6]

Gig Economy workforce

The gig economy workforce functions as a pool of talent from which employers take skilled engineers when they need them, and as they need them. Instead of building a team of engineers who work full-time, and thus have various levels of engagement with the company depending on the project, whether they have vacation time, etc., a manager selects an engineer with the skillset required for a given project.

This has obvious advantages: The telecoms engineer is more likely to be fully engaged with the project as it addresses his/her skillset. And, because the engineer is only hired for a specific project, successful and timely completion matters, so that the engineer can find another assignment.

“The gig economy prevalent in US, Europe and India is expected to bring transformational changes to traditional HR practices around the world, where gig and traditional economy will thrive together,” comments New Delhi consultant Rohit Kutappan.[7]

“With a growing shift to contracted labor and asset usage, organizations have the ability to use the new on-demand economy to their advantage – for growth and to be leaders of innovation. Every industry is ripe for change and looking internally and across well-established networks can provide the seeds of, and impetus for, change,” according to Jacob Romansky, an Associate Consultant at Denneen & Company.[8]

How engineers manage on-demand working

The advantages are aplenty for the workforce too, and not just the employers, as they can pick and choose the gigs they want to work on. This means their skills will be current while retaining flexibility and autonomy, and avoiding the occupational hazards of a regular job. In effect, freelancers can operate as entrepreneurs.

More importantly, they can have a work-life balance according to their needs and feelings. A telecommunications engineer may wish to work one month, then to spend a month with his/her children at home. Or they may enjoy taking on a long project, and then waiting to see when another one that fits their skills and appeals to their inclinations come up.

Flexible working gives engineers an increased feeling of personal control over schedule and work environment, according to Human Resources expert Susan Heathfield.

“One reason people like to work for themselves is the control issue. By allowing employees to determine their own schedule and work environment, a manager appeals to the entrepreneurial spirit, which can be good for workers.”

Fieldengineer.com can help

If you are a telecommunications engineer thinking about becoming a gig economy worker, then contact Fieldengineer.com to find out more about all the advantages you can gain.

If you are a manager thinking about working with telecommunications engineers on a flexible basis, then Fieldengineer.com offers you 15,000 pre-screened telecommunications engineers to work with in locations all over the world.  You can save 30% or more with contractors from Fieldengineer.com, as you won’t have to pay for benefits or vacations.

More importantly, you can fill the skills gaps you need to get your projects finished on-time and at a high level of quality.

So, contact https://www.fieldengineer.com/ to get the best results and the best talent.

[1] https://www.fastcompany.com/3048919/the-future-of-work/are-freelancers-to-blame-for-our-slow-economic-recovery

[2] http://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/digital-blog/are-we-ready-for-more-on-demand-freelance-work

[3] https://www.techinasia.com/japan-gig-economy-zehitomo-funding

[4] http://www.scmp.com/tech/china-tech/article/2073048/pots-gold-chinas-gig-economy

[5] http://www.ientrepreneur.co.in/blog/small-business/rise-of-the-gig-economy-in-india/

[6] reports.weforum.org/digital.../digital-enterprise-narrative-final-january-2016.pdf   

[7] http://www.ientrepreneur.co.in/blog/small-business/rise-of-the-gig-economy-in-india/

[8] http://www.denneen.com/2016/09/13/use-the-on-demand-economy-to-your-advantage/