Gig economy is the new future

Last year has taught us to embrace change and be dynamic to survive. As the world of work changes at a blinding pace, we are heading towards a future where these freelance gigs become the new normal. In many ways, the gig economy has already arrived. Almost every industry, trade, or sector you can imagine makes use of this type of work, meaning there is a huge demand for a wide variety of skills. There are gig workers in web development and education. You can find them in marketing or the delivery industry. Even construction jobs can often be gig-based.

The future is here! It is definitely going to be gig-centric. While there are a number of reasons behind the gig economy, the main driving force is technology. From better, more reliable internet to cloud-based software becoming the norm, the conditions are perfect for this new form of work. Alongside the technological shift, there has also been a distinct mindset shift. Increasingly, younger workers are shying away from traditional, stable jobs and opting for remote working options.

For many of us, traveling is more than a two-week holiday in a resort by the beach. It’s a way of life. It doesn’t matter if you hop from city to city every year or live full time on a boat, the rise of the gig economy has made these kinds of lifestyles accessible to all. The flexibility you can get from remote work allows younger people to realize their dreams of adventures. Work freely and in perfect harmony.

The factors changing the traditional job economy:

  •               The nature of the work is evolving and changing every day
  •               With network and connectivity, the world is now a global village
  •               Freelancers are cost-effective

And it’s no surprise—there are many upsides for both the person hiring and the worker. Let’s look at how it benefits the worker. The days of a company defining how much an employee is worth are dwindling. A report by the Kauffman Index shows that 550,000 Americans start businesses every month. Americans and freelancers around the world are taking a big interest in aligning their life’s passion with their work. In doing so, they are starting their own businesses and side hustles to command their own salaries. A comfort to many employees is the convenience of a consistent paycheck. Entrepreneurs and freelancers think differently. More and more people are starting to see the consistency of a steady paycheck as a convenience, and not a means to get ahead. Now more than ever there is an opportunity for entrepreneurs and freelancers to take control of their income, and many are seizing that opportunity.

In addition to creating their own wealth, gig economy workers value flexible work schedules as well. Companies that embrace freelancers will be more flexible and innovate faster. On the flip side,  becoming a freelancer and commanding your own salary is now easier than ever before. With more than 50 million people now a part of the fast-growing gig economy, those companies that aren’t embracing gig workers will soon be left behind.

As our world changes, we must change with it. Gig workers will need more collaborative spaces, where they can get a sense of community and emotional support when times are tough. But above all, new laws will need to be passed in countries around the world to ensure security. Freelance workers will need access to healthcare, tax benefits, and ensure their quality work is fairly paid.

The change is already well underway and there’s no turning back. With the gig economy, we have an exciting future ahead of us that gives us unprecedented professional freedom and cost-effective contracting options. While there are challenges, we will face them as a global society, and together we can ensure that the change is positive, sustainable, and beneficial to all.