The global workforce is now made up of more freelancers than a few decades back. The Gig economy provides freelance opportunities to millions. There are more than 56.7 million freelancers, an increase of 3.7 million in the past five years. Freelancers are spending more than 1 billion work hours per week according to the “Freelancing in America” report. Why is freelancing increasing year on year?
Gig economy: The Gig economy is the online market of freelancers who are ready to take up short-term work or “Gig” as they are referred to. While the freelancers are free to choose what they want to work on and with whom, from the comforts of their home, these contracts are easy to work on. And the employers have a wide pool of talent to choose from beyond the geographical locations and demographics. There are many reasons why this Gig economy is growing and is getting popular.
Changing Demographics: The Gig economy is growing significantly, because of the changing demographics and especially the work attitudes of the senior workers. There are many workers aged over 55 who prefer to work
independently nowadays which will help them to retire comfortably. The stigma around not having the safe and secure, fixed work hours job is reducing and more people are ready to experiment with the idea of freelance.
There are young college graduates who agree that the skills training that they have acquired recently is as significant as their college education. They believe in working in a liberating environment that lets them enjoy a good work-life balance and stay away from office politics. By embracing freelancing, they have more time to pursue their hobbies and other interests while earning decently to lead a comfortable life.
Better Technology and Infrastructure: Until a few years back, the technology and infrastructure required to work remotely from a residence was not so good. Even in the urban areas and developed parts of the city, it was not so easy. But now one can hire good business quality telecommunications infrastructure like phone and internet. And finding good Wi-Fi connectivity is rarely a problem, in the most remote areas of the world. There are also many apps and software that facilitates video conferencing, smooth project management and other tasks remotely. Along with extensive digitization, the flourishing Freelance Management System (FMS) also enables employers to efficiently manage their work relation with their hired freelancers. The FMS eliminates the geographical barriers, the need for administrative work and the background checks that are a part of the regular hiring process.
Conclusion: The truth is that the Gig economy is here to stay and grow. It has given opportunities to all the workers who were incapable of finding a full-time employment at times of market distress, which proved beneficial to both the employers and the workers. The employers could hire talent and
pay less compensation while the workers could enjoy flexibility and freedom of choice. Register on the freelancers website and find the best gig you want, at your convenience.
Piyush Sarawagi ,