The Gig Economy is not only Thriving, but it’s Here to Stay

There is no denying that the gig economy is playing a large part in the way work is changing. Workers want choices. They want to work differently. By 2020, it is estimated that 43% of the workforce will be working in the gig economy. Why are so many people making the switch? The gig economy has been fueled by those who want the ability to earn an income in a way that is flexible and productive, all while doing the work they enjoy most. With 42 million people already working independently, there is a sense of confidence that the gig economy is beneficial for the way work is changing, and it is here to stay. While there are many benefits, below are a few of the biggest ones.

Flexibility is Key

When it comes to building a career in the gig economy, the possibilities are endless. You are in charge. Period. Unlike the traditional workplace, you are in control of the hours you choose to work, how much you earn and where you want to work from. For many, this flexibility creates a sense of motivation to work harder rooted in doing work that is meaningful and impactful to them. This is especially helpful for those who are trying to maintain a better work-life balance. This is not to say that making the switch from the traditional workplace to freelancing does not require a significant amount of discipline; it means you are able to make the choices that best suit your needs best. After all, the only “boss” you’re reporting to is yourself .

Perfecting Your Craft

Instead of showing up to the same job on a regular basis, having one position consisting of work you’re great at and work you tolerate, working in the gig economy allows you to juggle multiple jobs, clients and tasks in your specific line of work. This is how skills improve and creativity is encouraged. It’s where high-performance lives. When you have the opportunity to work with multiple companies, you are honoring your craft, exercising your talent and keeping it relevant. Not to mention you’re doing what you love!

Variety is Good

Think about a traditional workplace for a minute. Have you ever felt like some days start to blend together or even begin to feel the same? Anyone remember the movie Groundhog Day? The gig economy keeps it more interesting. Gone are the days of walking into work at the same time, seeing the same faces and doing the same work. Being a gig worker means your days are filled with different elements that keep work interesting. It also means you are constantly building your network. People often feel more willing or excited to “go to work” each day when they know it’ll vary. Dull days are rare when working in the gig economy, unless of course you want them. That’s the benefit; you choose!

Regardless of what specific motives drive each gig worker, the gig economy is thriving in more ways than one. It is not just the latest trend. It’s gaining momentum and it is growing fast. It continues to help break old habits and traditions by allowing gig workers to build their network faster, acquire more experience, increase their skills and have control over the way they work. Ultimately, it is a way for people to create their own outcome and take control of their career. The pace of the workforce is not only changing but accelerating altogether. In order to continue to be successful, organizations must adapt just as fast.

Stay tuned for our next blog that speaks to how organizations need to start thinking differently about talent if they want to succeed in the ever-changing business landscape.