TECHNOLOGY
EMERGING TECHNOLOGY TO LEVERAGE THE GIG ECONOMY BY: MIKE POPADAK Speed is an expectation in virtually every area of life. For commercial real estate management, instant visual verification of properties can increase productivity and help those who service or manage buildings to implement proactive plans. But retrieving this information can be challenging, especially when managing or servicing multi-sites across the country. Enter the gig economy. In the gig economy, employers contract freelancers to complete temporary jobs as opposed to utilizing internal resources or hiring full-time employees. According to Statista.com, more than one-third of U.S. workers participate in this labor market. It is no surprise that IT, retail, health care, and media industries heavily rely on gig workers. But what you may not know is that gig workers have a growing presence in the facility and property management industry. In fact, it is among the top eight industries poised for disruption by on-demand workers according to WorkMarket, Inc.
How Commercial Real Estate Professionals are Working the Gig Economy: Those who work in property management are used to adapting to change. But using technology that provides quicker and more efficient way to gather insights, makes it that much easier to adapt. The gig economy is a game changer for commercial real estate professionals, especially in the areas of talent and speed. So how does it work? Similar to how companies like Uber or DoorDash operate, but instead of giving a ride or delivering food, crowdsourcing technology is used to connect companies with professional talent and trade workers looking for shortterm positions or local consumers searching for on-demand
assignments within the commercial building management industry.
Talent Even before the spike of remote work, industry professionals have often felt the burden of being spread thin on available resources in the field as well as the expense it takes to send teams where they are needed. To be effective, commercial real estate professionals need multiple productive teams who are readily available at a moment’s notice. Hiring gig talent helps fill the gap. And not only do gig workers provide help when it is needed, but they also come with fresh perspective. Oftentimes, a different outlook can help business owners and property managers become more adept at delivering advice, insights, and new services to improve customer experience and the bottom line. Corporate also wins by saving on employment-related expenses such as payroll tax, health insurance premiums, and other overhead expenses.
Leveraging Gig Talent If you are like most business owners or property managers, you are familiar with hiring extra workers to meet intermittent high demand in areas such as cleaning or security. Gig workers are no different; only now—with dedicated freelancing platforms, it has become easier to procure highly specialized talent. Sites such as upwork.com and freelancer.com can source virtual assistants to manage tenant relations or field emergency calls, perform data entry, or accounting tasks; temporary labor to augment the team; or project managers to coordinate jobs and help free up your frontline internal resources. There is no doubt a wide range of gig talent is available to improve day-to-day operations. But the gig economy can also help facility managers increase response time and make data-driven decisions.
Speed As a commercial real estate professional, you hear it often: “I need it now.” Prop Tech & Cybersecurity Guide | June 2022
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