Is procurement ready for the “Gig” workforce?

Posted on November 27, 2019


Speaking as someone who entered the workforce in which cradle-to-grave employment was the norm, in today’s world, job insecurity is the driving force behind the gig economy/side hustle. Although back then it was called moonlighting.

That said, and while the Millennial represents the most significant percentage of side hustlers, a Bankrate report found that 37 percent of all US adults spanning multiple generations know how to do the hustle. In short, Millennials, as well as Boomers and Xers, are cluing into the fact that having numerous avenues of simultaneous revenue streams is essential for survival in today’s highly transitional VUCA world.

Here are a few more interesting statistics:

– Between the ages of 25 and 50, people will move an average of twelve times.

– The average person will spend approximately three years at the same company/job.

In short, we are all in a gig economy, whether we call it that or something else. The question is, what impact will this have on your procurement organization and, what are you doing to prepare for it?

Over the next few weeks, I will be reaching out to industry experts and thought leaders asking them to share here on Procurement Insights their thoughts on how procurement organizations need to position themselves to achieve their objectives in the gig economy.


Posted in: Commentary