The New Service Economy
The ways in which hourly employees find work has fundamentally changes. The prevalence of e-commerce giants, new technologies and a heightened attachment to mobile devices has created a “connected customer,” who demands same-day deliveries, 24/7 customer services, and all-in-one experiences. These expectations are flowing over into the hiring process, with workers demanding this same personalized and flexible experience with their potential employers. As a result, previously siloed industries are now part of one, global ecosystem.
At Fountain, we call this global, service-based ecosystem the New Service Economy. Employers are competing for the same limited talent pool (against more companies than they might realize), making hiring much more difficult. That’s because traditional hiring practices have not adapted to the dynamic needs of this new workforce, who want to onboard quickly, so they can start earning wages.