July 30, 2018
Canada's gig economy 'growing at a phenomenal rate': BMO
The growth of the gig economy is leaving Canadians with more flexibility than ever before, but at a cost to their financial security, according to a new study.
The study by BMO Wealth Management surveyed freelance, contract and other temporary workers about their experiences in those precarious jobs. Citing Statistics Canada, it estimates that 2.18 million Canadians are taking part in some form of temporary work – a number which has risen significantly since the 2008 recession.
“The gig economy in Canada is growing at a phenomenal rate that shows no signs of slowing down,” the study reads. “An on-demand, freelance or contingent workforce is becoming the norm.”
2.18 Million Canadians Are Currently In The Gig Economy & Growing Fast
Statistics Canada called out this summer what we have been saying for quite some time. The state of the Canadian economy is such that contractor/gig like work is growing fast. In a scenario where traditional employment is becoming more and more scarce how does this hiring trend impact how these workers are being enabled?
Traditional employment has gone something like this :
Welcome to the company here is your corporate provided PC/Laptop and corporate provided Phone and Cellular plan.
Are Gig/Contractors being offered these traditional employment tools; or are they being asked to bring their own tools for the 3 month or 6 month contract? How likely is it that an employer will go through the hassle of employee on boarding and off boarding of these assets? Can you imagine the incremental cost?
Is there a better way and how do you reimburse these workers appropriately and how do these workers deduct the legitimate contract/business related usage from their taxes?
mobilityView is the better way.
Canada's gig economy 'growing at a phenomenal rate': BMOBack