What does the gig economy offer? As we’ll explain shortly, there are actually numerous benefits of gig economy for business that you should know.
What is the gig economy?
As a marketplace for freelance work, the gig economy is beneficial for a variety of talented individuals and companies in need of short-term assistance. In simple terms, a gig economy is a market system where an organization hires independent workers for a small amount of time and for a particular task. These are often part-time jobs, fulfilled by an independent gig worker rather than a company’s full-time staff.
The term ‘gig workers’ can include many types of people who work independently; a few examples of jobs in this niche are:
- Digital marketing
- Freelance writing
- Graphic design
- Web development
Most will find that the gig economy meaning is rather broad. Even pet sitting and food delivery are considered gig economy jobs, so there really are quite a few different angles to consider – and many opportunities to find the right worker for you (or alternatively, offer your services to companies that need it).
How does the gig economy work?
Overall, when taking a closer look into how it all works, you’re likely to find that there are a few key points. In most scenarios, a worker will be responsible for their own taxes, benefits, etc., which is one of the reasons why they can be so popular among businesses for temporary tasks.
Most of the time, a company looking to hire a worker will find that it won’t be too difficult, as most independent contractors will want to try and use marketing to their advantage. There are so many freelance workers out there and after a small search, you’ll probably find that you’ll have a few candidates. All you’ll need to do is find the ones that have the right skills and rates for your needs and after a little communication, you should be good to go.
Tools like onboarding remote employees, which are typically used for remote employees, can be excellent for companies that want to have better management over their gig workers.
Another great example of something that may be able to assist you is post on free freelance contract template, especially if you’re looking to make a contract for your freelance needs.
When it comes to taking care of odd jobs that require expertise, gig workers are simply one of the best choices. If you like what they do, you could even hire the same employee again in the future if need be without having to worry about hiring them full-time – and this can save you money in the long run.
The pros and cons of gig economy
For the most part, the gig economy isn’t too difficult to understand. With the variety of advantages that can come with it, for both workers and companies, it’s not hard to see why it’s often considered to be worthwhile. Here are some of the main gig economy pros and cons to consider.
- In most instances, a business owner will find that they will be able to save quite a bit of money and resources by outsourcing specific jobs to gig workers. The reason for this is that they won’t need to worry about things like having to take care of benefits and taxes.
Gig workers can be an incredibly flexible option compared to hiring employees. They will usually be far more versatile, but with a tool like Online Work Schedule Maker, you can still make sure that everything is taken care of as planned, which is certainly a great bonus.
- You won’t need to commit to any regular employee arrangements or worry about long-term needs either. All you’ll need to concern yourself with are the assignments and schedules for as long as you require those specific services.
- If you’ve ever had to go through the process of searching for a good candidate, you may be glad to hear that it’s simply so much easier with gig workers. No need to waste hours on checking resumes or go through the hassle of screening – just pick someone from a selection of gig workers who have the skills you need.
- While you may need to keep ahead of leave management with employees (which a tool like Leave Management System could help with), this doesn’t have to be considered with gig workers.
- You may come across workers who simply aren’t as committed to their job as a full-time employee would be. While this isn’t the case with everyone, loyalty issues can sometimes come into play and because of this, it’s generally worth doing a little research before hiring.
- Some people don’t feel that the gig economy is ethical, due to the fact that companies don’t have to offer benefits or stable employment for services.
There are several positive aspects to the gig economy – and many businesses will find that the pros far outweigh the cons.
What does the gig economy offer to workers?
The gig economy marketplace offers a variety of benefits to both people who are interested in boosting their income by offering their services for part-time jobs and businesses who want to get the skills they need without having to take on more employees.
Focusing a little more on the workers, there are simply so many reasons why an individual may choose to take on gig jobs, such as:
- It offers an incredible amount of flexibility to both businesses and gig workers
- For those simply looking to boost their income with a few odd jobs here and there, the gig economy could be perfect
- The gig economy offers far more independence to workers, which is something that is sought after by many individuals who want more freedom and control over what they do
- It can offer a great way to build on your resume, which could be ideal for increasing your pay level and getting more work in the future
As you can see, it’s not a one-sided deal where a business gets all the advantages. The reason why the gig economy is so successful is because of the many advantages that it offers to both parties.