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Our Chief of Staff, Clarisa Lindenmeyer, was recently featured on The Bridge podcast where they delved into the ever-evolving gig economy—a space that’s both buzzing and full of opportunities! Here are some key takeaways:
💥 Gig Workers Are Here to Stay: Contractors have always been around, but the pandemic really catalyzed growth in this space. With 75 million gig workers in the U.S. contributing nearly $2 trillion to the economy, it's clear that gig work is no longer just a side hustle—many do it full-time!
🔍 Overlooked but NOT Undervalued: While the traditional W-2 structure has its perks, it often overlooks the unique challenges faced by 1099 workers. How can a six-figure contractor access health benefits or navigate tax filings? These are crucial conversations we need to have, and at Gig Wage, we’re dedicated to addressing them!
🏢 Bridging Two Worlds: The gig economy serves as a bridge between traditional employment models and the future of work. Gig workers want instant payments after every shift, and we’re here to help facilitate that!
🌍 Responding to Natural Disasters: Did you know that when disaster strikes, companies ramp up their workforce with contractors? This showcases the increasing reliance on gig workers across various industries!
We must keep having these conversations out loud to address the challenges, and opportunities, in the gig economy.
You know, the gig economy, obviously it's a buzzy word. Contractors have been around forever. I think when you really dig into the opportunity in this space, we have a very ever changing world. COVID catalyzed a lot of that, but it was happening long before it. There are huge industries that are contracted dependent 75 million people, it's the latest like 2 trillion. Many of them do it for full time work. So I think when you think about this group. Of people that is in largely been overlooked and by that I mean the W2 space is set up the way it's been set up you know ADP helped developed what that looked like many years ago because it was a good business move and that's why we get taxes taken out and benefits and that's why the W2 space looks like that yeah but what happens if you're a six figure 1099 worker like how do you get health benefits how do you do savings do you know how to file your taxes so there's there's a lot we could talk about but we we think about it all our customers are. Businesses that are dependent on hundreds and thousands of workers. Here's an interesting thing, right the the gig economy is bridging, you know, sabrage traditional bridge the gap, the traditional world, what I call the future world, which is our customers. Customers are people that have them on like, you know, net 90 net 120 big brands and you're like, seriously, I'm sorry, can I charge interest for that for real? But you should but they're they're workers want to get paid. Really instantly after every shift. Yeah. And so it's it's an interesting chasm that we're crossing. But more and more, you know, sometimes we talk about the fact that gig work is like the new offshore, right. So all big businesses have offshore strategies. From a cost perspective, the gig economy also helps mitigate cost and risk. Think about think about the natural disasters that are happening, all the companies that go into those areas and ramp up workforces of thousands and thousands of workers overnight. They're all contractors. Yep. Right. And so we help pay all kinds of contractors in every industry in all 50 states. Amazing. Yeah, it's amazing. OK. Lightning round, OK. You're.
My ability to increase value for my clients and their employees is my superpower. Through innovation and collaboration, Lockton helps our clients develop and improve employee benefit strategies.
Watch now on YouTube: https://lnkd.in/gvAnRDTd Listen on Spotify: https://lnkd.in/gfCJ93Ft