What is the Gig Economy?
In the last couple of years, entrepreneurs and economists around the world have been rolling out different terms describing the growing disruption of the workforce mindset. On-demand-economy, share-economy or gig-economy as some like to call it, outline the shift in the workforce habits from the long-term careers within the company to short-term, contract-based opportunities. Most simply put, a share-economy is a system where temporary positions are more common than in the past.
Whether you are a copywriter earning your paycheck over Freelancer.com, craftsman selling goods on Shopify or an Uber drive – you are a piece of the on-demand economy puzzle. Read this e-book to gain a strategic advantage in your skillset and stay ahead of the demanding market.
The gig economy is an element of a shifting cultural and business atmosphere that additionally includes the sharing economy, the gift economy and also the barter economy.
History of the Gig Economy?
Gig-economy, in terms of part-time contracted work, is not a new concept. Depending on the field of work, short-term gigs was sometimes the only option for certain workforce. Take journalists, musicians, truck-drivers, carpenters, and artists for example. Throughout history, their working habits have depended on the gigs.
Two things changed the approach towards the gig economy and made it a 21. century trend. The internet made gig organizing easier and faster than ever before, which was one of the triggers for the gig-economy expansion in 2008.
The final push towards the share-economy, as discussed by economists from the New York Times, was The Great recession caused by the housing collapse in 2008.
Gig Economy Benefits?
Whether the gig-work is a full-time career or an extra income for some, freedom to work whenever and wherever is the hallmark of the share economy.
International career has never been so close than in the age of the gig economy. Your home-office transforms is just a click away from international career opportunity using the gig-economy platforms. You can connect to clients all over the world and gain international recognition, build a valuable portfolio and spread your network fast.
Work-life safety was once the employee’s utter goal, but this too has changed with the rise of the gig economy. Digital skyline is making companies act fast to catch up with trends and that is why many of them are hiring gig workers for the one-job deal. Contracts between gig-economy workers and companies are no longer strict and can easily be terminated. In those terms, if you discover that a client is not the right fit for you, it’s solely up to you to decide whether you are going to involve in their next project or not. Bear in mind that the same rule is applicable to both sides.
Since most of the gig sites rate and vet workers on site, the recruitment process usually takes minutes. This means that every minute on an on-demand site is actually an opportunity to get hired. Work hard on your gig-economy site ranking to get more jobs.
No more 9 to 5 mindset, workplaces, and check-ins and chek-outs. You are the master of your time (and space). Gig workers are often available at all times, allowing companies more flexible work schedule.
On-demand workers are the masters of their time, work and effort. Every minute overspent on one project means losing money, or taking the effort and time away from another gig. Having this on the mind, gig workers are usually good in time-management and are responsible in terms of deadlines and quality of the content.
The Main rule of the gig economy is that gig workers live (and die) by the review from previous clients. A good rating will grant you new jobs from cool brands and with better wages, while bad ones will probably scare away your potential clients.
Variety of jobs available
Depending on your skillset, the fishes in the gig-sea are multiplying. Once you are a highly ranked gig economy worker, you can choose which job to take and which to decline.
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