The Interim Economy Explained

What is the “Interim Economy” and how did it begin?

Joe Mullings, CEO of The Mullings Group, shares his thoughts below:

“The Interim Economy was kicked off by a rapid unintended transition into the emerging new World of Work caused by the Corona Virus. In the past, a “freelance” or “contractor” position was more of a life choice that was drive by lifestyle, additional income, or re-entry back into a career after taking time off or raising a family. It also tended to be in categories that included leisure, hospitality, IT, and information technology.

The World of Work has been transitioning intentionally over the past decade by an increase by percentage of workers in the “contracting / freelance” world and a decrease by percentage of full time/permanent employment. The abrupt termination of the workforce and the economic blow experienced by the business world will have companies large and small be hesitant in bringing on full time employees and the additional costs of overhead of PTO, healthcare benefits, retirement plans and other additional costs of up to 25% of salaries per employee hitting their balance sheet.”

Learn more about Interim opportunities and the Interim world of work here: TMGInterim.com