We often hear the word gig economy and how it is taking over every industry in the future.

Some of us fear it, while others think it’s the next best thing since sliced bread. But what is it really and why we should pay attention?

Gig economy, simply put, is when there’s a prevalence of freelance workers and contractors in an industry. Instead of hiring permanent or regular workers, employers choose to hire freelancers who can get the job done at a fixed rate. If you’re an employer, this may be the answer to your budget woes as you only pay for what you need. If you’re looking for a job, then this could be a great start for you.

There are, of course, downsides of a gig economy for employers and workers.

For the companies, it means you may not have the same resource every time you reach out for help.  This can add to duplicating communications to kickstart a direction when outsourcing a task.

Freelancers and contractors don’t get benefits, there’s no room for promotion, and it isn’t a steady employment compared to being an employee. If you envision yourself as one of the top managers of a company in a few years’ time, it should be your own startup because it’s unlikely to happen if you’re doing freelance work for another company.  You may also find yourself drafting your own contracts or having to hire an attorney.

However, with the gig economy you can pursue different areas of your expertise. You can pace yourself, do more jobs you like, or lessen your workload if you want to.  This could lead to your own startup or small business!

If you think the gig economy is the right fit for you, then read on to learn more how to get ahead of competitions in this labor model.

Enjoy this infographic about the Gig Economy presented by MikesGearReviews
Source: https://www.mikesgearreviews.com/gig-economy/