LinkedIn Joins Contingent Workforce Space – Gig Economy Here to Stay

I was really excited when I read a blog article from LinkedIn recently announcing the rollout of their ProFinder platform in the States because this supports what we have been reiterating over the past couple of years – the gig workforce is here to stay and it will have significant implications to most Talent Acquisition functions.
According to the article, LinkedIn’s ProFinder platform is an online marketplace that “connects consumers and small businesses looking for professional services with top quality freelance professionals best suited for the job”. The company’s decision to foray into the contingent workspace is based on research that shows an almost 50 percent increase in the number of freelancers on LinkedIn during the past five years.
[bctt tweet=”LinkedIn’s foray into Contingent Workspace is indicative of the rising trend of the Gig Workforce.” username=”ATCevent”]
Some of the key takeaways from the article include:

  1. There is a consistent and significant growth in the use of Freelancers in every category of work;
  2. Healthcare and Pharmaceutical industries have seen more than 50 percent growth in freelance workers over the past five years compared to 21 percent growth for non-freelance workers;
  3. Recognition that the gig economy is growing and is set to be an influential part of the modern workforce.

While I am fully aware that the data is U.S.-centric and that their workforce is not exactly the same as Australia’s, I believe there are some positive correlations and implications that we can draw.

Australia’s rising Gig Workforce

The growth of the Gig Economy in the U.S. is a trend that is mirrored in Australia, where more than 370,000 Australians joined the ranks of the Contingent Workforce during the past 12 months.
Numerous technologies, such as Adepto and Nvoi, catering to this workforce have also emerged in the Australia HR tech market recently and these platforms are set to transform the way Contingent workers are sourced, hired and managed.
In addition, organisations in Australia are starting to look seriously into the possible value of implementing a Contingent Workforce. For example, Rio Tinto has recently announced their decision to move towards a fully contingent operational workforce to allow them to closely manage their headcount and increase their agility in their recruitment process.
[bctt tweet=”What are you doing to prepare yourself for the rise of the Gig Workforce?” username=”ATCevent”]
With the Gig Economy becoming decidedly more influential in the modern workforce, LinkedIn has recognised this trend and moved swiftly to take advantage of it to offer a unique service such as the ProFinder platform. This move allows them to stay relevant and ensure that their clients’ needs are continuously catered for.

What will you do?

So my BIG QUESTION to you, then, is how will your organisation deal with the the Gig and Freelancer Workforce from both a Talent Acquisition and Talent Management perspective? As a Talent Leader, what will you do to tap into the Contingent Workforce to generate value for your organisation?

Join Trevor along with other leading Contingent Workforce experts including Alan Wilkerson, Matthew Dickason and Antonia Mochan to learn more about how you can make your organisation more freelance-friendly at the Contingent Workforce Conference 2016. Limited tickets left. See full agenda and purchase tickets here.
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