Illuminating the Shadow Workforce | 2020
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Filling the Workforce Gap in the Gig Economy
There is a war for talent and skilled labor shortage, the gig workforce fills the gap to effectively improve productivity and lower cost. Most industries rely on an extended workforce and often hire 1099M contractors for their specialized skills.
Generally speaking, gig workers fill four types of gaps in a business:
- 1099M independent contractors often bring specialized skills that are different than those of the traditional workforce;
- 1099M workers may have similar skillsets as the traditional workforce and are likely to be hired at busy periods to handle capacity constraints;
- 1099M commission-based contractors are hired exclusively for sales;
- Short-term W2 workers are typically seasonal or on-call hires.