In January, the U.S. Department of Labor issued a final rule that will force companies to treat some workers as employees rather than less expensive independent contractors. This move has riled business groups and will likely prompt legal challenges. The rule is widely expected to increase labor costs for businesses in industries that rely on contract labor, such as … Continued
In today’s dynamic job market, the gig economy is on the rise, transforming how people work. As the gig economy grows, many employers find that they are losing employees to contract roles that can offer more flexibility and independence. According to 1099 tax forms, used to report non-employment income to the Internal Revenue Service, the … Continued
Because independent work does not fit neatly into official labor statistics, it tends to be an underreported and understudied segment of the economy. The last time the Bureau of Labor Statistics officially tracked workers with alternate job arrangements was in 2017. In McKinsey’s August 2022 American Opportunity Survey, 36 percent of employed respondents — equivalent to … Continued
The gig economy was growing before COVID-19, but the pandemic caused a surge in workers signing up for on-demand talent (ODT) platforms. As recruiters struggle to compete, the use of ODT platforms is growing. So, employers must create a strategy to engage, recruit and hire these same gig workers for short-term positions. This is the … Continued