The “Gig” Economy

The Gig Economy is a business environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. For years, economists and pundits have prognosticated that the conventional 9-to-5 job work life would be replaced by an economy dominated by independent contractors, freelancers and temp workers who are retained through smartphone apps.

Yet this new-era business environment appears to be stalling. Last week, the Bureau of Labor Statistics reported that the share of Americans working in “alternative” work arrangements is shrinking rather than rising, declining from almost 11% in 2005 to approximately 10% last year.

However, there is a lot more to this than the statistics imply. There have been seismic shifts in the nature of the labor force that will be fueling a variety of changes. Most notable among these are the growing ranks of the baby boomer generation that will be looking to “supplement” income in an era of low returns on secure investments.

The Gig Economy is among the many megatrends that will continue to unfold and impact business, along with our society.

Job Listings

SPONSORED JOB
NAMDAR
Asset Manager, Retail
(GREAT NECK, NY) Position will oversee all aspects of an asset; create and oversee business plans of assets as well as oversee all transactions and sales; and perform long-term analyses to project future profits.

RXR
Capital Markets Analyst
(NEW YORK/UNIONDALE, NY) Analyst will assist in all aspects of capital markets activities including fund administration and forecasting, capital raising efforts, and the formation of capital structures for commercial real estate transactions and related documentation.

BERKELEY POINT CAPITAL
Underwriter
(DALLAS) Underwriter's primary responsibilities will be to provide day-to-day financial, market, and underwriting analysis of multifamily loans. Specific duties include: analyzing complex multifamily real estate transactions in compliance with respective agency guidelines (Fannie Mae/Freddie Mac); and conducting economic and demographic research to determine feasibility of transactions.

MSCI
Real Estate Investment Client Consultant
(TORONTO) Individual will be responsible for developing and supporting the suite of IPD performance and risk analytics and market information services, with a strong focus on the portfolio Analysis Service, sharing best practices, explaining complex analytics to clients, recommending benchmarking best practices and partnering with the sales team to provide expertise in client engagements and pre-sales activities.

THE MICHAELS ORGANIZATION
Analyst
(MARLTON, NJ) Analyst will be responsible for financial modeling, tracking asset performance, monitoring market trends for multifamily real estate.

METRO 1
Senior Staff Accountant
(MIAMI) The Senior Staff Accountant will be responsible for overall accounting and financial reporting for a rapidly growing commercial real estate brokerage, management and investment firm based in Wynwood. Some asset management functions will also be required for a sizable holding of real estate investment assets.

THE HONG KONG AND SHANGHAI BANKING CORP.
Regional Head of Portfolio Management, Strategy and Optimization
(HONG KONG) Responsibilities include: ensuring alignment between workplace and portfolio related strategies; developing office and retail transformation related activity, with support from key strategic Global Portfolio Manager (GPM) and Regional Transaction Partner (RTP) relationships; and acting as a key regional interface between Portfolio/transaction teams and the Capital Projects/Facilities Management teams.

THE BEACH COMPANY
Property Manager
(GREENVILLE, SC) Duties include: managing all aspects of the day-to-day activities of the property; creating and adhering to annual budgets; maintaining accurate records of community transactions and lease files; and handling leasing process.

H & R ADVISORS
Marketing/Proposal Coordinator
(NEW YORK) Coordinator will develop qualifications packages for the firm's proposals; manage search for Requests for Proposals from prospective clients and distributing the results of the RFP search to senior leadership; and improve content, organization, and systems surrounding firm-wide proposal and marketing resources, including project qualifications, staff resumes, firm profiles, references, and forms and statements for proposals.

SAN FRANCISCO INTERNATIONAL AIRPORT (SFO)
Airport Economic Planner
(San Francisco) Position will perform a variety of functions related to the Airport's property management and business development programs, financial and economic business planning, development and management at (SFO), and supervise professional and support staff.

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Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.