Gig Economy is a free-market system that employs independent workers for a short-term commitment. Due to the advancement of technology, it has become possible. The Gig Economy participants happen to treat the gig as their primary source of income. It is very significant in organizations and industries. Gig Economy has happened to entail individuals as the workers who work on freelance platforms and networking programs. In this regard, the research will expound on the Gig economy’s thriving and how it affects companies.
Thriving in the Gig Economy
An independent consultant by the name of Martha tried the art recently. She saw that she could handle the artwork; thus, the work was good for her life. Martha viewed the trapeze regarding the Gig Economy. She further explained that the trapeze artists seem to take huge risks although they get supported by their fellow performers. Trapeze artists appear to be independent; hence, they are not on their own (Graham & Anwar, 2019). Many North American and West Europe workers have opted to work as independent contractors. The occupation of creativity has become immense, thus increasing the freelance economy. Working as an individual has become very important since people have been able to become job creators rather than job seekers (Theorizing the gig economy, 2019). The Gig Economy has opened employment opportunities, increasing the chances of job creation. The only challenge that discourages people from the Gig Economy is the unpredictable schedules and finances.
The Produce
The independent consultants feel ownership of the products they produce. Even so, the freedom price seems not to subside over time. Most well-established and successful people also worry about money, making them feel their identity is at stake. For instance, an individual can no longer refer to himself as a consultant, yet clients are no more asking for his service (Hoff, 2021). Therefore, this shows that the consultant becomes his work. If the consultant offers good service, he will likely get more clients. In this case, productivity is an intense preoccupation for everyone, for it provides the provision of self-expression.
The Purpose
Purpose forms a nexus between personal interests as well as motivations. For instance, Matthew said that he was desperate to have clients making an income over time, thus shifting to living a life of services to others given success. The distinction between successful independents and unsuccessful ones is getting that place of realizing what someone is meant to do (Hoff, 2021). This strengthens the majority to decline work that is not in alignment. It offers authenticity, quality, and confidence to which the clients are drawn (Professors in the gig economy, 2018). In addition, it is also significant in helping to build or maintain the business and serving the people.
Effects of Gig Economy on Companies
The Gig Economy has reduced the number of laborers in the companies. The majority of the people working in companies have seen that it is better to become independent workers instead of employed. The Gig Economy provided flexibility and individual freedom in working. One can work at a convenient time that feels comfortable (Graham & Anwar, 2019). It also enables someone to work from anywhere they feel comfortable without supervision. This has made many opt for the Gig Economy, thus making the companies experience the problems of scarce labor.
Furthermore, the Gig Economy has led to a decline in the development of companies. Due to scarce labor, the companies have lacked sufficient delivery necessary for processing activities giving out products (Hoff, 2021). For instance, the companies that process textiles may be affected by giving very few textile products. Therefore, the company may decline to distribute good outcomes in the market. This will benefit the individuals who work in that field. Thus they will be the ones to distribute the products in the market hence minimizing the company’s demand.
The benefit of the Gig Economy on companies
The Gig Economy has helped companies and organizations to save money. Companies that work together with the gig workers can save money on infrastructure expenses. The companies also eliminate the need for offices by embracing remote work (Sinicki, 2019). Office space, computers, and other office suppliers are no longer needed to be maintained. This helps save the money that could have been spent supporting the offices and their supplies. This enables the company to reinvest the money saved, thus making greater profits.
Participation in the Gig Economy
The majority of the people are now participating in the Gig Economy. I have been working in the Gig Economy for several years, hence having an experience of approximately three years. I have worked in the gig by writing sports and politics blogs. The blogs have made me financially stable since they make me acquire income from freelancing platforms. As a blogger, I have worked with some companies especially sports companies. I have worked in a sports academy where I fetched the sports person data and wrote the blog, making the particular sportsperson popular and promoted. However, I have been doing the job part-time, and according to my perception, I can say that the gig job is excellent. Gig work is very viable, and everyone can be able to become a gig worker if only they desire.
References
Graham, M., & Anwar, M. A. (2019). The global gig economy. The Digital Transformation of Labor, 213-234.
Hoff, W. (2021). Regulatory governance for the gig economy. Krytyka Prawa, 13(2).
Professors in the gig economy. (2018).
Sinicki, A. (2019). The gig economy lifestyle. Navigating the Gig Economy. Web.
Theorizing the gig economy. (2019). The Gig Economy, 11-32.