The gig economy is becoming highly popular amongst today’s workers, with more professionals choosing to go freelance over the traditional 9-5 office job. Until now, this trend has received numerous opinions, and whilst it may open up a larger talent pool, it might open the door to tougher competition.

This trend doesn’t come as a surprise, with the world of work becoming increasingly flexible. Technology has given workers the ability to access and accept many different freelance opportunities. However, even though this is a great opportunity for employees, what does it mean for recruitment?

A bigger talent pool

Technological enhancements have increased mobility, meaning that candidates can accept jobs from across the world. This ultimately gives recruiters a huge talent pool to choose from, due to them not being restricted to recruiting just from their local area. Additionally, this gives them access to a more diverse workforce, which is positive news for any company.

‘Benching’ talent

A talent which is proving to be popular in the working world is ‘benching’. This term is used when a candidate is put on the back burner in case they are suitable for the role in the future. Whilst a candidate may not get the role the first time around, there may future projects that they are suitable for. Additionally, by ‘benching’ talent, you are sure to save time whilst recruiting in the future.

Competition is tougher

A global talent pool has its benefits, and it brings with it tougher competition. In the past, recruiters may have only had to compete with local candidates, though they are now contending with an entire web of organisations on a global scale. Ultimately, this could make finding the perfect candidate rather difficult, due to numerous companies battling to offer the best incentives to secure the top talent.

Cutting costs

One particular positive of the gig economy is that it could help recruiters to cut costs during the initial hiring process. Freelancers seem to promote themselves more heavily through new technologies, ultimately making them cheaper and easier for recruiters to find online. Ultimately, this flexible working culture could make finding your next recruit even easier!

They’re only temporary

A persistent downside to the gig economy is that it’s all about short term and flexible hours. This means that you may need to start recruiting more often than usual. Staff on full time contracts are ultimately more reliable and have stronger reliabilities. Whereas, employing someone on a temporary contact means that will have to be replaced at some point. This means that you may find yourself recruiting more roles, more often.

The gig economy opens an array of talented candidates to your company. However, the gig economy doesn’t come without its faults, with working on a global scale making the competition a lot tougher. Overall, you should find ways to secure the most talented recruits, staying ahead in this ever-changing landscape.

Are you looking to inject some creativity into your workforce? Here at Recruitment Solutions Wales, we can dedicate time and resources to scouting, engaging, contacting, hiring, and on-boarding top talent, helping your business move forward. Specialising in the Logistics, Industrial, Professional Services, Manufacturing, Engineering, Commercial and Warehousing sectors, we are proud to work with some of the greatest companies and candidates in Wales.

For more details on how we can help you, get in touch today.