2023 employee benefits & workplace predictions: The gig workforce
The number of gig workers continues to increase. Here's what to expect in 2023.
Over the year, more workers than ever have shifted to freelance work which allows the employee to be in charge of when and where they work. While gig workers do have some gripes about their choice to do it alone in the workplace, most who have gigged are not going back to employee status.
So what can we expect from gig workers this year? Here’s what industry experts have to say:
Gig work structures will redefine traditional retirement.
With well over a third of the U.S. workforce over 50, there will be a market shift in the way we define “retirement,” as the aging workforce increasingly wants to remain engaged in part-time roles. In turn, HR leaders will work to embrace and define gig and flexible structures that work for their organization, while also supporting the large demographic who isn’t prepared for full or traditional retirements.
Megan Smith, Head of HR at SAP North America
Benefits providers: keep small businesses and gig workers on you radar.
Another area we expect will be on the radar of benefits providers in 2023, especially those that focus on small business clients, is the gig economy. Small business owners are still feeling the impact of high inflation, supply shortages and a tight job market, which is making it difficult for them to stay afloat. As a result, many small businesses are looking at the gig economy to source talent. Benefits providers can play a role in helping these businesses improve their recruitment strategy with this growing sector of the workforce. Common approaches include offering benefits through associations and other affinity/specialty groups.
Stephanie Shields, head of Employee Benefits at Equitable
Related: Study finds similar financial worries among both gig workers and corporate employees
The gig industry is going to become more worker-centric over the next year.
With more competition for workers and higher consumer demand, workers have the upper hand and will start being more choosy about where they work and where they don’t. To stay competitive, companies will need to offer better programs that support gig workers financially, including faster pay, discounted health benefits, paid time off and more.
Ron Ross, co-founder and president at workforce payments platform Everee