Increase in High-skill Gig Workers in IT Industry: Report

There has been a discernible increase in high-skill gig workers within the IT sector. These gig workers, also known as freelancers or independent contractors, are highly qualified individuals who provide their expertise on a project-by-project basis instead of being obligated to hold typical full-time jobs. The number of high-skill gig workers in the IT sector is increasing due to various factors. Technical developments have improved the usability and effectiveness of remote work. Gig workers can easily engage with clients and teams from any location thanks to cloud computing, collaboration tools, and communication platforms.

Gig economy has emerged

With a 78% increase in high-skilled gig workers participating in contract-based jobs, the gig economy has emerged as a critical alternative as businesses struggle with cost-cutting and layoffs. During the first two quarters of 2023, the demand for gig workers in the IT sector grew by 157%, according to a survey by Awign. Companies are turning to the gig economy to vary fixed expenses while interacting with a highly-skilled workforce on a project or milestone basis in response to issues with cost optimisation.

Surprising data from Layoffs.fyi shows that in 2022, 1058 IT companies laid off more than 1,64,000 workers, with an overall figure of more than 2 lakh workers suffering the same fate in 800 tech organisations.

Conclusion

Since the IT sector is continuously changing, many specialised skills are needed. Employers frequently resort to gig workers to gain technical knowledge without entering into long-term contracts. Due to their ability to grow their staff following project demands, businesses are more agile, and their overhead expenses are lower.

Several factors attract high-skill gig workers to the freelancing lifestyle. They like the freedom to select tasks that fit their interests and skill sets, the opportunity to engage with various clients and industries, and the improved work-life balance. Furthermore, many IT experts find that contract work enables them to explore entrepreneurial alternatives while escaping strict corporate hierarchies.