What is the Gig Economy?
- Now a day, we are hearing about the “Gig economy”.
- What is this and why everyone is talking about this?
- What is the role of the Gig economy in today’s world and what is the future of it?
We will discuss here on each point, so let’s start:-
- Gig – means “Part-time Job or short period work”.
- The gig economy – A labor market widely known for short-term contracts or freelance work.
- The word “Gig” originated from the US after World War II.
- Because after War, US companies are running at a loss this they are not hiring an employee at that time companies started contract work, freelance work, work from home.
- In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees.
- This economy is an online platform so clients or customers are connected from anywhere.
- In a gig economy, large numbers of people work part-time or temporary positions.
- The result of a gig economy is cheaper, more efficient services, such as Uber or Airbnb, for those willing to use them.
- Those who don’t engage in using technological services such as the Internet tend to be left behind by the benefits of the gig economy.
- Economic reasons also factor into the development of a gig economy.
- Employers cannot afford to hire full-time employees to do all the work. Hence, they hire part-time or temporary employees to take care of busier times or specific projects.
- The trend toward a gig economy is increasing day by day.
- In the digital age, work can be done from anywhere.
- That means that freelancers can select temporary jobs and projects around the world.
- It is the latest trend the whole world is bending towards the gig economy so its future is bright.
- At last, the gig economy is part of a shifting cultural and business environment towards the latest trend of the Digital world.