Gig economy is a free market system in which organisations hire workers for a short period of time, let's see what it's all about.
The gig economy was made famous by Airbnb, Uber and delivery services which prefer specialized work over blue-collar jobs.
With this notion, you can manage your personal and professional life. Be a freelancer, independent contractor, or project-based worker, the choice is yours!
Various gig apps and digital technology have helped track business and growth of the employees. It also helps
employees to connect with
their potential customers.
You can choose any freelance work that aligns with your career goals. The work can range from driving for Uber or delivering food to writing code or freelance articles.
The gig economy is a very mutual affair as employers can choose the best candidate. And the employees are not confined to full-time work that does not interest them!
This market is easy to enter than the formal market. You can be a part of the gig economy by working on short-term and contract basis flexible work, unlike long-term employees.
Flexibility means that employees must be accessible when gigs arise, regardless of other demands! Also, not having the company cover health insurance and sick leaves is a downside.
The economy is rapidly growing and becoming a significant part of businesses. Studies say that 79% of employees in gig economy are more satisfied than traditional employees.