In today’s busy technological world, digital innovation like the internet has changed the game. While the job economy in Singapore has slowed down its growth, a different growing trend has stepped in to help. The gig trend is on the rise. Now, about ten percent of the work force is freelancing or working gig jobs. Hundreds of thousands are participating in this new style of work.
Singapore’s Gig Revolution
With the rise of job marketplaces and freelancing sites, more people than ever are choosing the flexibility of gigs over traditional lifelong jobs. These gig jobs in Singapore can take many forms. From drivers, to consultant, to AirBnB hosts, the gig market is taking Singapore by storm. And that’s good news in many ways.
How Gigs are Changing Singapore’s Economy
- Diverse Talent – Companies used to have a structured way of hiring that meant they had a limited amount of access to the kind of talent they were looking for. Now, things have changed. Companies have access to people from diverse backgrounds. The dispersion of talent means its easier to find the right person for the role you’re looking for. People of all skills can find the right opportunities. This is creating unique outcomes.
- Inclusive Cultures – Culture is changing in the workforce. Jobs are different, and companies are adapting. Formerly, they would offer traditional benefits like health insurance and other perks. Now, workers are traveling more, fulfilling their dreams, and enjoying the benefits of remote work. This leads to cultures that are more accepting of different lifestyles. People are more confident to truly be themselves. There is a shift from a focus on appearance to a focus on results.
- Lean Startup Mentality – Long gone are the days where you would conduct a massive project over several years to get an edge. Now, the timeline is accelerated. Companies have more short term projects where they hire people for months at a time, even weeks. This is part of the lean culture. This involves rapidly creating a solution for the market place. Once the solution is out there, they iterate on that and find the right market fit. This helps them keep up with the speed of modern society and especially the demands on business.
- Flexibility – Traditionally, a 9 to 5 job included showing up at the office at a set time. You would agree to certain hours and to stay on the company for a period of time. Now, requirements are more flexible. Workers can enjoy a style of work that contributes to how they want to live.
- Lowering Costs – One of the biggest benefits of the gig economy is the lowered overhead cost. Companies don’t need to worry so much about salaries. Instead, they can focus on other perks. Usually, health insurance, paid holidays, and sick leave ate up a lot of the budget for hiring. With profit potential higher when using freelancers, costs are lower than ever before for businesses wanting to get ahead. This is one of the main reasons the shift in the economy has been so strong.
Jobs in the Singapore Gig Economy
Certain industries are seeing the most growth with gigs. This includes banking, technology, insurance, shopping, online business, and healthcare to name a few. There are certain job types that are now available and freelancers with these skillsets are sought after:
- Accountants – No matter the size of the business, everyone needs a bookkeeper. Accountants will never be out of style. Accountants used to be expected to show up at the office everyday like everyone else. However, software has made things possible to manage finances remotely. With QuickBooks, Xero, and other online solutions, accountants can work with a small set of specific technologies. This means they can have several clients and employers can hire them at different times instead of full time. Contracts for shorter periods are becoming the norm.
- IT Professionals – Technology is the leader in the growth of jobs today. IT professionals and their technology runs the world, and the backbone of that is information technology. Tech pros are increasingly becoming in demand. From networking, to security, to management of architecture for systems, anyone learning these skills won’t be unemployed for long. IT recruitment is here to stay.
- Designers – Things used to be that people were impressed with a basic website. Today, the user experience is more important than that. The design of an app, website, or poster is important. This communicates brand values and convinces people that your business is professional. The software that allows designer to do their work is robust and continuing to grow in size and scale.
- Writers – With SEO in full demand, writers are finding work for virtually every industry. People need content to educate consumers and drive sales. Sometimes, this is as simple as translating from one language to another. Those with writing skills have their pick of the market.
- Programmers – Programmers are paid higher than other positions on average. This is because every piece of code needs someone to create the code. This is tough complex work, and programmers are a prized hire for any startup.
- Delivery Drivers – One of the ways to deliver value in the gig economy is to sell back time. People can pick up work as delivery drivers to bring food, clothing, and shopping of any kind to someone’s home or business.
- Drivers – Uber and Lyft are just some of the massive companies that are hiring drivers every day. This is the essence of the gig economy. Work when you want by providing a service that many people are likely to need on any given day.
- Tutors – Education has changed. With online learning platforms, tutors can connect with their students remotely. Video technology has progressed to where video is almost as effective as being in person. This has lead to many people choosing to pursue teaching and learning online.
- Security – The cybersecurity threat is very real. Businesses are getting hacked every day, and that trend isn’t slowing down. To protect valuable assets, people need to have security experts on staff. This can often involve learning complicated languages like Linux and backend operations. If a phishing attack or other malware attempt violates a system, this could release names of customers, bank accounts, and more.
- Project Managers – With so many gigs, someone needs to manage the workforce. Project managers can oversee multiple departments and ensure they deliver on time. That way, higher level management can direct their focus on the growth of the company.
Long gone are the days when the only option in town was to work for one company for the rest of your life. And companies aren’t hiring the traditional way either. The gig economy in Singapore has created new opportunities where the old economy has slowed down. More flexibility, access to different skills, and cost savings are a result. Those looking for jobs and those looking to hire can both benefit from this change now and into the future.
Sign up today for notifications of when the new Future Work job marketplace opens, job tips, and future updates!
Jobs in the Singapore Gig Economy