With more and more participants, the Gig economy has significantly changed the contemporary business landscape-to the point where new legislation is being developed to regulate it.Įven though it’s notoriously hard to measure, it is drawing more and more people, because of its accessibility worldwide, creating new opportunities for employers to attract and cooperate with top talent on crucial projects that call for highly specialized skill sets.įor many Gig workers, the “gigs” they do, allow them to supplement their monthly income. Gig economy participants sometimes treat their gigs as their main source of income, or as a secondary one.
Define gigeconomy drivers#
Food delivery drivers (Skip the dishes, DoorDash etc.). When we say Gig economy many of us think of the following: What was perceived as a side hustle only a couple of years ago, has turned into a trillion-dollar industry with millions of participants across the world. The reason why the Gig economy has been under scrutiny for the past couple of years is that technology has lowered barriers of entry to such a degree that “gigs” have become easily accessible to an unprecedented number of people. Independent contractors and professionals. The gig economy definition encapsulates all sorts of contingent work arrangements, like: The Gig economy includes independent contractors or freelancers with specialized skills and on-demand workers hired for jobs through the growing number of online platforms. The word “gig” refers to the transient nature of jobs in the Gig economy. So, how can we define the Gig economy? Broadly speaking, the gig economy is a free-market system in which companies look to work with independent contractors or freelancers as opposed to hiring full-time workers. Putting it simply, a Gig worker is defined as not being employed on a long-term basis by a single company instead, they enter various contracts with firms or individuals to complete a specific task to work for a period of time in which they are paid a negotiated sum. 
The Gig economy is a much discussed global phenomenon that is on the rise.
In a post-pandemic world, with extreme labour shortages and job losses many are looking towards the Gig economy to find work. By Bromwich+Smith Staff | 683 words | Reading Time: 3 minutes | Date: 6
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