03 January 2020
The rise of cloud-based HR solutions has helped transform the Human Resources function from a reactive administrative department into a proactive business partner focused on maximizing the strategic and business potential of the workforce. At the same time, technology innovation has given workers more choice about how, where and when work happens, resulting in a global shift toward project-based work and an increasingly ‘virtual’ and contingent workforce.
According to Deloitte in The Workforce Ecosystem: Managing Beyond the Enterprise 2018, there are around 77 million freelancers in Europe, India, and the United States. In the US alone, more than 40 percent of workers are now employed in “alternative work arrangements,” such as contingent, part-time, or gig work.
Digital transformation and technology-led initiatives have also played a key role in driving project-based work and gig economy. As more companies organize work around projects rather than jobs, employees increasingly find themselves doing work outside the scope of their traditional jobs and reporting lines, creating new organizational challenges. What does this shift in work trends mean for core HR solutions ?
HR technology solutions have come a long way in the last decade in the areas of remote access, user experience, employee self-service, analytics, and flexibility, but have left HR behind when it comes to organizing internal and external workers engaged in project-based work.
With this shift toward gig economy and an increasingly project-focused and on demand workforce, HR’s challenge will be to define a more holistic and inclusive people agenda which begins with Core HR. This will enable them to :
- Unlock the full potential of a diverse workforce to improve service and execute faster.
- Provide better collaboration tools and the flexibility to work remotely and learn on demand.
- Help leaders and employees build stronger relationships with contract-based staff to drive higher levels of engagement and innovation.
Download this ebook just below to learn more about gig economy, the impact of project-based work on HR and how to adress it, starting with a Core HR solution.