Gig Economy Boom: Trends, Compensation, and Future Prospects in Singapore

Based on the comprehensive whitepaper released by Jobs On Demand Jod, Empowering Flexibility: A Deep Dive into Singapore's Gig Work Landscape, there is a significant upward tr towards hybrid workand increased compensation packages in traditional non-gig sectors to attract, retn, and motivate talent. Notably, the healthcare and hospitality industries are leading this change with the highest demand for gig workers offering hourly rates as high as S$22.

The whitepaper analyzes nearly ten years of operational data from a survey conducted on 1,000 gig workers in Singapore across diverse sectors including retl, food and beverage services, logistics, healthcare, events, and hospitality. The findings indicate that there has been an impressive uptick in the demand for gig work talent, with applications increasing by 50 month-over-month from April 2023 to December 2023.

This phenomenon isn't exclusive to traditional gig sectors but is also observed within healthcare and hospitality, marking a notable rise since 2019 with the number of primary own-account workers reaching an all-time high of 202,700 in 2022.

We med to highlight emerging trs and key drivers shaping Singapore's gig work ecosystem, says Sebastian San, Country Manager of Jod for Singapore. This comprehensive whitepaper offers policymakers actionable insights, empowers businesses with the potential of gig work to drive innovation and competitiveness while fostering a vibrant and inclusive gig economy in Singapore and Southeast Asia.

Average earnings across all sectors have seen an increase, with healthcare topping the list at rates as high as S$22 per hour. The food and beverage sector follows closely behind, offering rates from S$16 to S$20 per hour, while hospitality rounds out third place with hourly wages ranging between S$14 to S$16.

Notably, Jod witnessed a 25 rise in applications by first-time gig workers who are diversifying their income streams. These individuals often hold more than one job and average over 40 hours of work per week. Top employers on the platform include Frprice Group, National Healthcare Group, and McDonald's.

To address hiring concerns for both gig workers and businesses, Jod has outlined several strategies:

1. Enhancing Gig Workers' Job Satisfaction: By developing comprehensive reward programs that support better financial well-being and job satisfaction among gig workers.

2. Upskilling and Certification Programs: Commitment to upskilling gig workers by offering in-demand certifications such as food handling trning, which enhances their employability and earning potential.

3. Streamlining Platform Operations: Utilizing advanced technologies andinnovations to make hiring processes more efficient, thereby improving communication between employers and gig workers.

This whitepaper serves as a beacon for the evolving gig work landscape, highlighting opportunities while also addressing challenges that may arise from this flexible working model in Singapore and beyond Southeast Asia.
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