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Employee Benefits in the Gig Economy

David Rook

From Uber and Lyft to TaskRabbit and Fiverr, the gig economy is now firmly established as a fixture of today’s workplace. 

Gallup surveys show that about 36 percent of U.S. workers have some sort of gig, and 29 percent rely on an "alternative work arrangement" (as it's sometimes called) as their primary source of income.

With such a strong presence in the labor market, the gig economy is altering the shape of employment. The numbers from Gallup are lower than some respected economists originally reported (and lower than some less established source’s statistics), but they still show that the gig economy is here to stay. Few aspects of employment will remain unaltered by it, and employee benefits certainly isn’t immune to its impacts.

In fact, multiple issues related to employee benefits in the gig economy have already been raised. Moving forward, both government agencies and businesses will need to rethink employee benefits programs so that they adequately compensate independent contractors, online platform workers, contract firm workers, on-call workers, temporary workers and others with alternative work arrangements.

Here’s what’s being done for both the distant and near future.

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Topics: Employee Benefits, Company Culture, Recruitment

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How Does Your Employee Benefits Package Stack-up? Our 2018 Employee Benefits Benchmarking Study Is Now Available

Jeff Griffin

It’s considered conventional wisdom that the fiercest competitors can be found in the world of professional sports. After almost 30 years working in employee benefits, I beg to differ.

Greatly exacerbated by today’s low unemployment rate, the competition for talent in the business world today is as fierce as I’ve ever seen it, most especially in the fields of construction, dining, cybersecurity, nursing, and finance, just to name a few. Bryce Harper and Tom Brady have nothing on today’s business professionals in charge of talent acquisition.

As if competing for customers wasn’t enough, companies often compete against each other for the same pool of talent, whether that be within specialized industries or simply within an overlapping geographic region.

In the quest to attract the best talent, employee benefits benchmarking is crucial. This practice allows employers to gauge their organization's position in terms of benefits versus the competition. Some companies regularly conduct benchmarking as part of a strategy of good governance, while others perform benchmarking in response to something specific, such as an acquisition, the need to fill a specific role, or the launch of a new division.

Introducing Our New Partnership & Benchmarking Study

This year the JP Griffin Group joined with United Benefits Advisors to produce the nation’s largest independent health plan benchmarking survey. In doing so, we’ve created the most comprehensive source of reliable benchmarking data for employers of all sizes.

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Topics: Employee Benefits, Benchmarking, Recruitment

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