A better platform for the independent workforce can add trillions to global GDP: Tunnyl.com launches flexible compensation web app in Hong Kong to bring the city’s bustling gig economy online
Although part-time work is essential to more than a million Hong Kong residents, only about 15% of this group uses the Internet to find their next gig, representing significant loss in productivity, employment, and labor-force participation.
HONG KONG — July 1, 2018 — Today, more workers prefer to engage in independent work out of choice than out of necessity. According to a McKinsey report, the independent workforce is highly autonomous, receives payment on a per-task basis, and is defined by short-term relationships between worker and client. This workforce includes those who offer services as well as those who sell goods or rent assets. This workforce is also known as freelancers, digital nomads, gig workers, short-term workers, and part-timers.
Until recently, greater than three-fourths of the independent workforce has had to rely on traditional, offline means to find work. This meant using interpersonal relationships, networking, and handshake deals. These tools, while effective, need much trial and error, accounting for significant losses in productivity and employment. Furthermore, existing online tools have not been able to supplant the offline experience.
Creating a better online experience that can connect the independent workforce with the right opportunities will add more than US$2.7 trillion to the global GDP by 2025.
Tunnyl launches its flexible compensation web application in Hong Kong to better mimic the strengths of offline interactions that lead to gainful independent work. The goal is to provide local medium-, small, and micro-sized business enterprises (MSMEs) with all the tools they need to find, assign, and compensate local independent workers for Tasks. An essential piece to the system is Tunnyl’s flexible compensation system that incorporates the ability for MSMEs to pay independent workers with a combination of cash and payment-in-kind, or “Favors” on Tunnyl.
Favors ensure that independent workers receive fair compensated for their time, while granting MSMEs a means to overcome cash flow challenges. Additionally, using Favors give MSMEs a safer means to hire inexperienced workers, giving students and others a means to break into other markets and launch a new career.
Independent workers and local MSMEs can begin registering on tunnyl.com in Hong Kong today, and can look forward to version 1.2 on July 10, 2018.
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