The Many Benefits of the Gig Economy

May 29, 2018

The Many Benefits of the Gig Economy

The Many Benefits of the Gig Economy

Whether you are familiar with the term or not, the chances are that you are already part of the gig economy. This eco-system is essentially a market for labor that is depicted by the prevalence of freelance or short-term working instead of long-term positions or jobs.

As with most developments in the business world, there are pros and cons to them all. However, in this post, we are going to focus on the advantages of the gig economy and talk about how it has improved and enhanced the lives of so many individuals and businesses alike.

The Variety of Work

From both sides of the fence, the gig economy opens up the opportunity to meet many different types of people and gives an assured and interesting variation of work. People have a tendency to get complacent at work due to the monotonous nature of some job. For those who find they get bored easily, this is a huge positive.

The Disruption of Change

Just as Uber and Airbnb caused mass disruption to their own sectors, they also forced consumers to look at the way they travel in a different way than people had before. It can disrupt patterns and open up real conversations on political, social, and business levels.

It Helps Get Things Done Quicker

Businesses no longer have to go through lengthy hiring processes in order to get the talent they need for work that needs to be done. Hiring is quicker, and the outputs and associated goals are achieved much faster.

Things Cost Less

The gig economy has opened up a market for workers who can do specific tasks within a given budget. Employers, businesses, and organizations alike need only pay for the work they need to be done at any given time.

Happier Livelihoods are Being Realized

Freelancers and consultants alike are getting the opportunity to do what they love and are being paid fairly for their skills and work. People are able to forge a career doing what they enjoy and have the ability to earn a comfortable living at the same time. This has given individuals the opportunity to truly obtain a healthy work-life balance.

Flexibility

This point relates to both the working hours and the pay. The gig economy has created an almost infinite potential for individuals to get the flexibility they need, allowing them to work as little or as often as they want or need to. This gives many individuals complete control over their work schedule.

Huge Number of Platforms Act as Enablers

There are a huge number of platforms that now give individuals access to millions of projects and potential employers. Having a website and becoming a world-class marketer is no longer a pre-requisite for becoming a successful freelancer or entrepreneur.

The Gig Economy is still growing, and that doesn’t look like it will change anytime soon. As an increasing number of employers and employees contribute, the acceleration of this market is set to continue and could potentially reshape the way people work and the economy for decades to come.

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