Nowadays a new way of working has evolved and this is through ‘gigs’ and becoming the so-called ‘Gig Economy.’ The Gig economy is a way of working that is not tied to a business or a company. This is getting very popular and it seems it will be the next-generation form of work. Let us introduce this below:
What the heck is Gig Economy?
The Gig economy is a way of working where individuals get a single job through usually the Internet.
One can offer freelance work online and posts to receive jobs. People can also find job offers from companies who post freelance jobs. There are also multiple crowdsourcing services (ordering work to unspecified or specified people on the Internet) in almost every country. Job services include website creation, application development, advertisement design, writing, etc. Certain websites act as platforms between companies/individuals who require work to individuals who want to do work.
What are the benefits?
Gig economy is a type of work where individuals are not tied or affiliated by any companies.
As long as you have an internet environment, you can work anytime…yes, any time you want. This also means you can work from wherever you are as jobs are done remotely. People who have difficulty commuting to the company due to various restrictions can work from individual bases such as home by utilizing the gig economy. In terms of the characteristic of a single-shot project, there is no such thing as the monthly quota. It is a great convenience that one can decide what kind of job, how much one will receive orders in the month and work himself. This can create a great work-life balance of the individuals.
In the gig economy, basically, you will work alone remotely (or couple up with others as you can also give smaller tasks to others to do). Some people will enjoy working on their own as it is their main preference for work. This is definitely a great value to liberate from the stress of building good relationships with your peers.
What are the Risks?
Although it is a gig economy that allows flexible working methods, there is always some risk involved and things that one needs to consider.
The first thing that can be mentioned is that the gig economy is very competitive and can be very hard to start into (especially a beginner competing with someone who has already done several projects). The income can be unstable and is not guaranteed. There are many people who have a regular income as well but not everyone. Others can just have a part-time income. The more skills you have the more profitable you will be and take advantage of the gig economy as you can offer several ‘gigs.’