Nearly TEN Million Gig workforce will be on demand by 2024.
By 2024, there will likely be 10 million additional workers joining the gig economy as more and more companies opt to hire people on a project-by-project basis. The majority of the demand will be for food delivery, package delivery, driving a personal vehicle, home maintenance, personal care, and vehicle repair, among other services. The need for gig workers will be considerable as more clients choose online services, which are growing faster.
Nearly 48% of firms use contract employees to deliver food and packages. Additionally, the demand for resources will rise in all areas, including private car driving, household maintenance, personal care, and vehicle maintenance.
Gig workers are independent contractors who also work as freelancers. Their tenure is generally short as they work with multiple clients. According to reports, the gig economy, which gives people the freedom to choose occupations that fit their lifestyles, has brought about some of the most important economic changes in recent memory. According to one of the global employment portals, it enables individuals to decide how much or when they want to work and allows them to earn money in between jobs.
The hiring companies would face three major challenges. As the demand for gig workers grows, so must the pay, and employers must look for resources outside of their home location. Understanding the local language will take time to adapt, and not knowing English adds another layer of difficulty. Moreover, they also don't have access to job information.
Many firms that venture into the service sector will add to the growth factors by creating new jobs.