A considerable amount of the workforce makes a living by working nine to five. However, the number of people who choose to work independently with multiple income sources is constantly increasing by the day. Surveys conducted prove that new generation workers prefer independent work as compared to full-time salaried employment by more than 2:1.
The gig economy, in simple terms, is a free market system where part-time, temporary positions are common and where businesses tend to contract with independent workers for short-term engagements.
The improvement in the economy is changing in how present-day organizations maintain their business and deal with their workers. The gig economy model allows workers to take a specific part of a job and this becomes a win-win situation for both the company and the employees.
The recession period saw giggers crowding the customer service segment of work. The inclusion of a flexible workforce eventually opened up organizations to the idea of being more agile and accommodative. What changed was that about 70% of employers in the developed countries truly believed that giggers increased their profitability and efficiency.
Though there is no accurate estimate of their numbers, it is projected that this ‘flex’ or ‘mobile economy’ will comprise half the workforce by 2020, and as much as 80% by 2030. Gig Economy is figurative of the kind of contract work expanding into every corner of the economy.
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