There is a growing trend towards a hybrid workforce that is a mix of both full-time employees and on-demand workers. These temporary workers are often called contractors, freelancers or gig workers. Hybrid workforces allow companies to be more nimble and efficient, while offering the highest quality of services and the fastest response times.
However, the use of more workers and more work assignments, or gigs (the gig economy- get it?), can create more complexity. By automating these processes, you can more easily take advantage of the benefits of an on-demand workforce without adding an extra burden on your organization.
The gig economy is impacting all businesses regardless of size or industry. There is much value and power in an agile (or hybrid) workforce that can work together with full-time employees and on-demand workers in an agile labor cloud. However, it is critical to have the right systems in place to deliver results and ensure compliance.
Enter automation. Automation can offer new and innovative ways to consolidate every aspect of a freelance or contingent workforce under one roof, effectively eliminating the "swivel chair."
More importantly, business executives armed with automated tools can more easily take advantage of the benefits of an on-demand workforce in the gig economy without adding an extra burden on their organization.
So, what exactly does automation in the gig economy mean?
The Mechanics of Automation
There are three main components to automation: webhooks, rules, and analytics. Let’s take a look at each component.
Webhooks are triggers that cause an action to happen. For example, if I am a editor who is looking for a writer, I want to use a labor cloud to find a writer and to submit the work assignment details to them when they check-in. WorkMarket offers a robust set of webhooks based on workflows that determine when automation should run.
Rules or logic can be considered the relay for the automation process. Continuing with our example of an editor waiting for a writer to submit the deliverable, I either have to remember to reach out to the writer or else put a reminder on my calendar and then pick up the phone to call or text. With automation, the system can automatically send a reminder to the writer when they check out of their assignment saving you the time and effort.
The ROI for any automation process comes in the analytics or tracking. This is where you can find the status of any and all work assignments as well as the results. As an editor, was I able to produce more content with less manual intervention? How much did I pay for the content and how does that compare with prior years with no automation? Who are my highest rated writers? These are just some of the stats that are available with rich reporting systems.
For businesses, the rise of algorithms, automation and cognitive technology, such as machine learning and AI, are radically altering the trajectory of global economies, labor markets, and corporate growth strategies.
Based on a 2020 (In)Sight Report conducted by KRC Research in partnership with WorkMarket, employees think they could save about 240 hours of work per year through automation. Business leaders see an even larger opportunity at 360 hours per year.
That equals about one whole hour per day! Who doesn’t want an hour back on a daily basis in a thriving and busy gig economy?
*Ready to start saving an hour per day? Check out our automation page to see how! *