Employers will soon be confronting a colossal employee turnover issue that, by design, they never considered as they had a nearly endless supply of available gig workers.(Photo: Shutterstock)
There's no denying that the gig economy is thriving. Much of this growth is driven by both massively well-funded private companies as well as public tech giants that are capitalizing on an unprecedented era of consumer demand for convenience, no matter the goods or services. As a result, more than 57 million Americans—35 percent of the U.S. workforce—performed freelance or gig work in 2019, contributing an estimated one trillion dollars to the overall economy.
With the introduction of third-party apps that enlist independent contractors to facilitate rides, deliveries, dog walks, grocery shopping and numerous other on-demand services, many freelancers are able to join the gig economy with ease. Similarly, many businesses are able to capture new customers by joining these platforms. It all seemed to fit together nicely—until recently, that is.
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