The gig economy refers to workers who rely on freelance contracts and short-term jobs for some or all of their income, as opposed to a fixed salary position with one company. The top industries hiring gig workers are construction, IT, administration, healthcare, and creative fields. Gig work is increasing in popularity for U.S. workers and approximately 50 million individuals worked a full-time or part-time gig job in the past year.
How To Enter The Gig Economy!
Entering the gig economy has never been easier—either as a company or an individual looking for work. Using FieldEngineer.com as a platform, you can post your services and skills for potential customers. Choosing a safe and reliable platform for offering your services is essential as it helps you avoid risky employment or unsafe working environments.
If you are looking for a more flexible work environment, try the gig economy using a reliable platform like Field Engineer.
The Pros and Cons of The Gig Economy for Companies
- No fixed salary. When you pay employees on a fixed salary, you are required to pay for holidays and sick and vacation pay which can be expensive for a business. If you hire a gig worker on a contract, you only pay them for the time they work.
- Flexible employees. You can build a community of reliable and skilled gig workers so no matter what the job is, or where it is located, you are likely to have it covered by one of your trusted contractors.
- Workers may not be as invested. Because gig workers are not permanent employees, they may not be as loyal to your company and can leave at any time.
- Ethical issues. The gig economy has come into question with fair treatment of freelance workers because they are working without benefits (other than pay). Employers need to be aware of ethical issues that may arise.
The Pros and Cons of the Gig Economy For Workers
- Flexible work. For individuals needing flexibility, such as students and those with young families, health problems and other responsibilities, this can be a great way to work. Without the pressure of a strict routine, you can decide when you work and how much. This creates freedom to take care of dependents, attend school, focus on other responsibilities, and to take care of your own health and well-being.
- Low commitment. If you unsatisfied with the work you are doing or have an uncomfortable relationship with your current company, it can be easy to leave and take up employment elsewhere.
- Remote working. If you’re not interested in office life, the gig economy might be for you as gig workers often have the flexibility to work from home. Or in the case of delivery drivers or similar roles, their work is not traditionally in an office.
- High stress. With no regularly scheduled income, the gig economy can be stressful. You may go through periods where it is difficult to find work so you need to plan for periods when you may receive less income.
- No safety net. Since you will not receive healthcare and retirement benefits as a gig worker, it can be difficult to feel secure in the gig economy. Also, if a company needs to reduce their payroll, a gig worker’s contract may be at risk.
- Taxes. Gig workers are responsible for paying their own income tax and other business responsibilities, such as licensing.
The gig economy provides excellent opportunities, but you need to be aware of the challenges listed above. This type of employment is growing, and if you feel you need a change, perhaps this is the calling you’ve been waiting for. Visit Field Engineer to see what engineering projects are available today!