State of Flexible Work - Q2-24

The Fractional Work or GigCX (Gig Customer Experience) economy has witnessed significant growth and transformation in recent years, reshaping the traditional employment landscape. According to a recent report by the World Economic Forum, the gig economy is expected to account for 43% of the U.S. workforce by 2025. This surge is indicative of a global trend, with similar patterns emerging in other developed economies. The COVID-19 pandemic has accelerated the adoption of flexible work arrangements, with many companies embracing remote work and gig-based models to enhance workforce agility.

Major publications such as Forbes and The Economist have extensively covered the dynamics of the gig economy, shedding light on both its advantages and challenges. Forbes, in a recent article, highlighted that gig workers, often considered a cornerstone of the flexible work model, value the autonomy and flexibility that gig jobs provide. However, concerns have been raised about the lack of employment benefits and job security for gig workers. The Economist's analysis underscores the role of digital platforms in connecting gig workers with job opportunities, emphasizing the need for regulatory frameworks to address issues related to worker rights and social protections.

Despite the hurdles, the gig economy has proven resilient and continues to evolve. McKinsey & Company indicates that the GigCX economy is diversifying beyond traditional roles, with an increasing number of professionals opting for gig work in sectors such as finance, healthcare, and technology. This shift suggests that gig work is no longer limited to low-skilled tasks but is increasingly becoming a viable option for highly skilled individuals seeking more flexible work arrangements. It is not uncommon to see tax professionals, clinicians, CPA's, nurses, programmers, and travel agents all working from anywhere rather than being forced into a physical location.

The state of the flexible work or GigCX economy is dynamic and multifaceted. GigCXTalent is the world first Fractional OWrkforce Advisory leading in the space with a network of over 300k Brand Ambassadors in their professional network working from pretty much anywhere around the world. GigCXTalent works with both the Enterprise and BPOs offering unprecedented talent resources to augment thier current workforce management strategies to inlcude better flexibility, more languages, and skill sets often void of most contact center populations. The enterprise leverages talent from anywhere on the planet rather than restricted to physical sites. Workers (Brand Ambassadors) can be dedicated and they commit to their schedules jst like an FTE. Studies show an accelerated performance on KPIs, NPS, and CSATs as a result of the commitments from the Gig workers who for many, Gig work is their only source of income. The transformation of the job market, driven by highly secure digital platforms are bolstering the growth of flexible work, not to mention impacting key areas of attrition avoidance, solving talent gluts, eliminating HR headaches, and reducing sky-rocketing Operational and Capital expenditures amounting to millions that are forcing businesses to do more with less.

The contact center suppliers you're outsourcing to today are most likely doing the same things they did twenty years ago only with a digital nuance supported by AI. However, true innovation sits in the flexible work ecosystem where both savings, performance, and digital all co-exist thus delivering a next-level customer experience.

If youre exhusted fed-up with the same old FTE headaches, attrition costs, subpar performance for your hard to staff shift, trouble with nights and weekends or shy to take on 30-60-90 day projects...we need to talk

Cheers!