The "gig economy" — work based on temporary positions with independent workers — may be a saving grace for the talent shortage IT fields are facing, according to a report in The Wall Street Journal.
"Confronted by staffing challenges that include retiring baby boomers, difficult to hire and retain millennials and a widening 'skills gap' in key areas like cybersecurity, cloud infrastructure, big data and mobile application development, chief information officers need to take notice," according to the report.
Currently, approximately 46 percent of CIOs will employ these independent, short-term workers this year, according to the CIO Executive Council, and such employment contracts are expected to significantly increase over the next five years.
This is because IT work can be largely dependent upon certain skills for certain projects that have dedicated timelines, said Kevin Brady, an IT consultant, in the report. "A highly skilled gig worker is often the best, and least costly, solution," he said in the report.
However, Darrin Clawson, CEO of Engage Mobile Solutions, said in the report the gig economy is less about saving money and more about accessing the best talent. "Project preparation, detailed scope, design and documentation costs associated with contingent workers largely offset any potential savings," he said in the report. "Hiring contingent workers is much more about having access to the best talent than trying to save a few bucks."
Currently, approximately 40 percent of all workers in America are part of the gig economy, which translates to roughly 58 million workers, according to the U.S. Government Accounting Office.
The gig economy does come with its own set of challenges, including intellectual property protection and difficulties persuading gig economy workers to join companies full-time, according to the report.
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