Boom of Gig economy in modern world
Gig economy is a type of
labour market pigeonholed by the dominance of short-term contracts or freelance
activities in contract to permanent jobs. Recently there is boom of contract or
freelance work at global level. In global business arena, advanced technology
has created pioneering and more flexible ways to meet demand of customers.
Among workforces, the gig economy is a new set of expectations and approaches
to work.
Person, a gig signifies a small part of a worker’s
income. When employees combined array of tasks, their cumulative remunerations
can be analogous to that of full-time occupation. In contemporary environment,
majority of SMEs wanted to create a culture of gig economy. There are great
advantages of Gig economy. This offers immense flexibility for workers to
complete the project or task besides profit.
The gig economy is backed and fast-tracked by the
emergence of technology and clienteles who expect goods and services to arrive
faster than ever before. To fulfil these demands, businesses and governments
require talented experts for short-term projects to drive modernization and
rapid transformation. Simultaneously, personnel are also interested in job
opportunities that offer greater suppleness and diversity.
Personnel or professionals get huge benefits to work in
gig economy. In such work culture, professionals can get involved in projects
for multiple companies. Concurrently, it can help them to grow skillsets and
get more opportunities to enhance career. They can freely choose their projects
and get real satisfaction in working on same. There is also less risk of income
loss with multiple companies.
There is also huge benefits for companies in gig economy.
They can recruit professionals for service and not on regular basis. This saves
money and other resources. The most stunning example of gig economy for
professionals or talented individuals is freelance work. It is probably popular
gig. Presently, huge numbers of people are engaged in writing work and earn
good amount. Coding and programming, graphic designing, photography, tutoring,
babysitting, virtual assistance are other example of gig economy.
To roll up the strands, gig economy is drastically
transforming the face of global workforce environment. The process of
globalization fuels the gig economy in business world. Today, several business
companies whether leading or medium sized, embrace the gig economy and hire
contract or freelance personnel to augment efficiency and lucrativeness of
business.
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