The Gig Economy, where employees are choosing contract work over traditional jobs, began in 2007 out of the Great Recession. It has surged in recent years with the digital age and increasing workforce mobility. The growing trend has had a tremendous impact on traditional jobs, and the elective medical industry has certainly felt the shift. Many medical practices across the U.S. have been impacted by employees are are choosing “gig life” over an office job.
The result is added strain on medical practices who depend on employee talent to effectively manage prospective patients and patients in the office.
Here are three key statistics that point to the threat the gig economy may continue to have on medical practice talent:
1. Gig Workers Are On Track to Make Up About 1/2 of the Workforce
A recent survey shows over 50% of the US workforce is likely to participate in the gig economy by 2027.* The convenience and flexibility of workers to choose when, where, and how often they work is altering employment as we know it. More industries are also joining the trend, creating more opportunities for workers to gain experience in new fields. This combined with the growing attraction to the gig workforce, could decrease the demand for traditional jobs.
2. Gig Workers are Happier Than Traditional Workers
82% of gig workers say they are happier working on their own.* The ability to be your own boss and not have to answer to someone else is a huge attraction. No performance reviews or TPS reports, gig workers get to call the shots.
Furthermore, gig workers can create a better work-life balance that fits their lifestyle. They’re also able to make other aspects of their life, like family, a priority.
Elective medical job positions typically require staff to be in the office in order to deliver a quality patient experience. While more practices are open to hiring remote staff, accountability and consistency can be compromised.
3. It’s Not All About the Money
One major perk of traditional jobs remain: compensation. Data shows traditional jobs still pay significantly more than gig work. According to Indeed, the average salary for a call center representative in the U.S. is $16.91 per hour, or about $2500 per month. Compare that to the average compensation for gig work, which typically ranges between $500-$1000 per month, and there’s quite a gap.
Despite the vast difference, survey data shows 51% of gig workers wouldn’t return to traditional work for any amount of money.* This proves the more formal structure and requirements of office staff may continue to deter workers. Though practices may be able to offer additional incentives like health benefits, for many workers, it may not be enough to attract and retain staff.
How will practices manage?
There’s no question the gig economy will continue to be a strong force in creating competition for talent. Medical practices that have a back-up plan and the ability to outsource certain functions of their business will be able to remain successful.
In fact, recent trends is the reason many medical practices are turning to OptiCall to serve as an extension of the medical practice. Our trained patient counselors manage inbound calls and web leads to help reduce overhead, streamline operations, and ensure you’re always fully staffed despite employee turnover.
To learn more about our outsourced solutions, contact us.
*Source: Teamstage: Gig Economy Statistics – Demographics and Trends in 2023