The Gig Economy: your startup’s survival guide during coronavirus

The Gig Economy: your startup’s survival guide during coronavirus

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If there’s one thing that the current coronavirus pandemic is showing, it’s that remote work can be done on a massive scale. Remote working might be new for a lot of people but it’s the norm for about 11 million people in the EU currently working in the gig economy – the fastest growing segment in the EU labour market . It’s no longer seen as an alternative work option to supplement full-time jobs, but rather appreciated as a viable choice to earn a living, as well as provide a strategic source of global talent for startups and companies alike. According to the European Commission’s report on trends shaping the future of work in Europe, jobs are increasingly broken down into projects , meaning that more and more startups will be contracting freelancers for project-based support. During development phases and countless product iterations, freelancers can test out new ideas or change existing ones at minimal risk. For communication or marketing projects, companies can bring on copywriters, bloggers, digital marketers and graphic designers. Startups can take advantage of the gig economy. And they should, especially during the early stages. Freelancers level the playing field for startups, allowing them access to world-class talents and specialists at a fraction of the cost of hiring full-time employees. In the study released by Malt on European freelancers , over 52% have Masters or PhD degrees and on average have over 4 years’ experience before freelancing. Given the current climate, your team may not have full-time hiring on their mind. However, working with a freelancer could give your team the opportunity to continue to grow with external expertise, as well as support the freelancers out there whose projects may have temporarily dried up. However you look at it, the gig economy is here to stay, so here is our take on how you, the founders, can best use it to boost your growth right now. See working with freelancers as a stepping stone Due to the current pandemic, full-time hiring might not be on the cards right now. That said, finding a short-term freelancer in a certain market to help boost one aspect of your business, can bring a fresh-eye, some much needed creativity, and act as an extra pair of hands during a difficult period, for as many hours as you need. On the other side of the coin, supporting freelancers whose projects may have temporarily dried up will allow them to stay afloat and could potentially act as a new stamp of approval on their CV. And who knows, if the collaboration is successful, it could help you think about an old problem in a new way, or lead to something bigger, like the expansion of your business or product in an unexpected but welcome direction. 2. Breakdown the project into manageable tasks Break down the big picture into easily digestible chunks. This way it is much easier to match the task to the freelancer you will need. It is also easier to […]

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