Giving Compass' Take: 

• The author interviews Getting Smart's Tom Vander Ark about his thoughts on where higher education fits in the context of the gig economy and whether or not colleges need to do more to prepare students for the changing workforce.

• What are the benefits and the downsides of working in the gig economy?

• Read more about how the gig economy is impacting both the future of school and work.

As postsecondary institutions scramble to better meet the needs of today’s students, what does the burgeoning ‘gig economy’ mean for higher education?

Estimates for the size of the gig economy vary, but some estimates place it as high as 34% of the current workforce and project that it could reach 43% by the year 2020. In fact, this economy that thrives on independent contractors and short-term workers has become so large that the California Supreme Court recently ruled that gig-economy companies, such as Uber and Grubhub, must change their employee status litmus test to better protect the rights of these contingent workers.

What does the gig economy mean for higher education, graduates and employers?

Vander Ark: We can sum it up this way. Robin Chase, the co-founder of Zipcar, the world’s largest car sharing company in the world, said: “My father had one job in his life, I’ve had six in mine, my kids will have six at the same time.”

Although the trend toward freelance and/or project-based work is not news to many of us in the business world, there is a gap between economic realities and current school preparation.

Horn: This suggests that education will need to change in significant ways, as you’ve been arguing. What can employers do to help?

Vander Ark: We are big fans of listening to the business community leaders about ensuring career readiness. Jim Postl, former CEO of Nabisco International, wrote: “Deeper learning, including project-based learning, reflects the realities of the modern, global marketplace.

Employers need workers who possess executive-functioning skills, as well as the practical knowledge that comes with career and technical education. We also know that the 21st-century economy increasingly relies on a project-centric approach, which is why a curriculum that embraces project concepts better prepares students for the workplace.”

Read the full article about gig economy by Michael B. Horn at Christensen Institute