The way people live, work, and spend money has changed considerably in the last decade, particularly since the introduction of smartphone technology. Being hyper-connected through social media has expanded communication and offered up new methods to earn and spend money – picking up a “gig” (or a temporary work engagement) online is as simple as making dinner plans or finding a date.
The so-called “gig economy” is changing how individuals think about and do work, and countries must be ready to adapt with new regulations and initiatives.
What is Gig Economy?
The gig economy is made up of three main components: independent workers who are paid by the gig (i.e., a task or a project) rather than by a salary or hourly wage; consumers who require a specific service, such as a ride to their next destination or a specific item delivered; and companies that connect the worker and the consumer in a direct manner, such as app-based companies.
According to research the gig economy is not a new concept, but it has grown significantly in the last decade. The gig economy’s share of the US workforce increased from 10.1 percent in 2005 to 15.8 percent in 2015.
Who is Part of the New Gig Economy?
1. TECHNOLOGY PLATFORM COMPANIES
Technology platform firms have been a major driver of the gig economy’s growth. According to research there are some firms like Uber, Lyft, Airbnb, Etsy, TaskRabbit, Surejobz App and other technology platforms fall under this category.
There are a few things that these platform companies have in common:
- Facilitate direct consumer-to-producer transactions.
- Work schedules that are flexible for gig workers.
- Platforms take a cut from online payments.
- Producer and consumer profiles and reviews are available online.
2. GIG WORKERS
Providers of labour
- Drivers, handymen, Digital marketers, developers and delivery men, for example.
Lower-income and less-educated / higher-income and highly-educated employees who rely on gig work as their sole source of income, frequently due to a lack of other employment options.
- Suppliers of goods
Artists, craftspeople, and clothes retailers, for example.
Workers with a medium salary and decent education who do not rely on their gig work income since they have another full-time job; their gig work is usually supplemental revenue.
The Rise Of The GIG Economy
People are increasingly resorting to the gig economy to supplement their income or even make a living. But where did this rapid expansion originate from? A number of reasons contributed to the gig economy’s accessibility. Let’s have a look at the primary reasons behind the rise of the gig economy.
Digital technologies are advancing at a breakneck pace.
A gig worker can work from anywhere in the world thanks to the internet. Whether you’re a freelance illustrator seeking for an author or an agency looking for an SEO specialist to help with a huge project, physical geography is no longer an issue in finding the ideal people to collaborate with.
Furthermore, cutting-edge technology has resulted in the development of digital, generally app-based, gig economy platforms that connect consumers with workers directly. Consider Uber, which connects drivers with people who need rides, Airbnb, which matches hosts with people who are seeking for a place to stay or Surejobz App that connects online and offline freelance service sellers to buyers.
Surejobz App is a firm believer in the freelance world’s power and prospects. We’re here to help the gig economy thrive. We want to provide all of you freelancers (and wannabe freelancers) with knowledge and resources to help you become recognised and earn the gigs you need to succeed financially. You are welcome to contact us for assistance and tips. We’re here to help!