Well, gigs are essentially contractual or part time assignments that tend to be a whole lot flexible than full time jobs. A 2015 survey report showed that 53 million Americans were working as freelancers that year. This report predicted the number to rise by 40% in 2020. Obviously this projection would have been much higher because of the COVID-19 pandemic. While these are just statistics for the United States, a 2019 report by Hayes reported that 24% of workers across 19 countries were full-time gig workers. Gigs are also popular because they can make you money. According to a study conducted by ADP Research Institute, the gig economy accounts for one-third of the world’s work force. The gig economy is also expected to cross a $500 billion mark in gross volume in the next five years.
Today, gig workers are sprouting up anywhere. Although gigs have their fundamentals set in being creative and knowledge intensive assignments, they are dramatically spreading to other industry verticals including customer service management, remote sales, and software development. From part time retailers and graphic designers to registered nurses and software developers, gigs have become a reality. But what’s more interesting is that gigs are now a part of verticals that don’t usually hire part timers. We are talking about verticals like manufacturing.
Although gig culture amalgamating with manufacturing is an unlikely combination, it actually works in favour of both the employer and the employee. The rising cost of providing health care to full time employees, increased over head costs, the integration of artificial intelligence and machine learning are some of the factors that are contributing to even manufacturing industries employing part time and contractual employees. Manufacturers have started to leverage gig economy fundamentals and are actively recruiting temps instead of full time employees. The fact that most of current workforce belongs to the millennial generation and tends to pursue a healthier work life balance while juggling their finances is another factor why workers don’t mind taking up jobs in manufacturing.