Leveraging the Gig Economy to Replace Retirees
I read an interesting article from Bridge Energy Group that advocates utilizing the so-called gig economy to replace retiring utility workers. The gig economy involves work that is temporary in nature – a specific project or deliverable that’s completed within a pre-defined timetable. This type of work is typically sourced online (think Fiverr or Upwork) and is generally fulfilled by people seeking independence and flexibility.
Why Utilities Should Leverage the Gig Economy
As you know, the utility industry is currently facing a retirement boom due to the aging workforce. In addition, emerging regulations and customer expectations are forcing utilities to pursue new, more technologically-advanced systems. These two converging factors have an impact on emergency preparedness, and necessitate thinking outside the box when it comes to securing human resources. Millennials who specialize in gig work can potentially plug these knowledge gaps.
Another reason is that for some types of projects, gigs can supplement or replace consulting arrangements. As I’m sure you know, consultants can be expensive. Gig economy workers tend to be less experienced, and because of this are less costly than traditional consultants.
From the worker side, hiring based on gigs can help increase the attractiveness of working for a utility. The utility industry is not perceived as an attractive destination for younger workers, and as such the gig economy can help acquire these workers for specialized, technology-heavy projects. Why? Because the temporary nature of gigs eliminates the need for workers to make a long-term commitment to the company.
With all that being said, the gig economy does not solely consist of young workers. Utility retirees, who obviously tend to have a wide array of company and industry knowledge, can also be brought in for post-retirement short term projects that are more strategic in nature or involve massive restoration efforts.
The bottom line is that the gig economy is here to stay, so it makes sense for utility HR departments to incorporate gig work into their talent-sourcing efforts.
