The platform economy during and after COVID-19.
It's no secret that the platform economy has faced its share of skepticism over the years; something that became especially evident during the beginning of the COVID-19 outbreak. However, it soon became apparent that the platform economy is one of the winning industries during the pandemic that has taken the world by storm.
Food delivery and home services are now more important than ever and, as a result of the current situation, have created new jobs for people working in these areas. And we believe that development and improvement will happen faster now than ever.
What has become clear during the pandemic is that society needs to be better prepared to overcome unexpected crises like these in the future. Fortunately, flexibility is a fundamental part of the platform economy, and the situation has led to businesses and governments joining forces to improve conditions for gig workers, as at the end of the day, all parties are looking for the same thing: stability and economic growth.
In the near future, both public authorities and businesses will be able to operate at an expanded level, with the same efficiency and productivity, but with fewer staff. We will see more investment directed towards skills development within the industry, which will increase revenues. The platform economy is further predicted to grow exponentially worldwide in the coming years.
Another development we have seen is the reallocation of labor; workers have had the opportunity to use their skills in another field or in another company. For example, service workers who could work in restaurants and hotels.
COVID-19 has shown that the platform economy is a reliable option for gig workers. The platform allows businesses and giggers to find and help each other when most needed; should a company's employees be temporarily unavailable, the company can seek temporary labor from other industries.
At the beginning of the year, the World Economic Forum released a report on the services that will receive extra attention as a result of COVID-19. The services mentioned in the article are well known and will work even better when translated into a platform economy format.
Gig workers in IT, sales, marketing, care, service and product development are set for high demand in the coming years. In an effort to survive the temporary challenges, companies in these fields will try to grow as best they can with as little staff as possible and hire when needed. For these companies, the platform economy is the perfect solution. Business owners can create their own roster of consultants to choose from and book in when it suits.
COVID-19 will have forever changed the way we look at work, opening our eyes to other options and giving the platform economy the space it needs to be recognized. Now more than ever - as a sustainable resource for institutions and individuals to explore.