The term “gig” comes from the world of the performing arts, where comedians, musicians, and others are paid for individual appearances known as “gigs.” Merriam-Webster defines gig economy as “economic activity that involves the use of temporary or freelance workers to perform jobs typically in the service sector.”
The industry is rapidly growing–the ease of use of technology-centered businesses such as Uber and DoorDash is generating a convenience factor for consumers that is too good to pass up. The flexibility of the job offers an enticing freedom for jobseekers, who can set their own hours and avoid the standard 9-5.
As the industry grows, gig workers are mounting more pressure on their employers for stable benefits and salaries. On the other hand, some individuals found the free form nature of the gig industry to be liberating, leveraging their newfound flexibility to great success.
The premise is ingenious: anyone with spare time or the capacity to provide wanted services may earn money through the technology-driven marketplace.
The potential to earn extra money frequently, quickly and with little risk is perhaps the most significant advantage. Gig employees may give services whenever they desire. Their work-life balance is under their control.
Alternatively, The gig economy lacks consistency and complete benefits like health insurance. Employees may lack a defined professional development path and mentorship inside a corporation.
Finding a gig job can be as simple as stating your availability. Unfortunately, it’s not that easy for other freelance oriented paths. Others must be more invested in growing their brand, such as obtaining testimonials or reviews, taking excellent photographs of your Etsy items, knowing about and applying SEO keywords and implementing selling or incentive campaigns to encourage sales. Of course, gig jobs lack the standard safety net that comes with more structured jobs. If something goes wrong, individuals must be prepared to manage those obstacles.
The workplace is entering a seismic shift as the gig economy expands, and the future is still uncertain. Stay informed about the advantages and disadvantages of this new, technology-centered industry and decide if it’s right for you.
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