From the perspective of the freelancer, a gig economy can improve work-life balance over what is possible in most jobs. They also can contract with experts for specific projects who might be too high-priced to maintain on staff. In a gig economy, businesses save resources concerning benefits, office space and training. Consulting firm McKinsey says that there are currently around 68 million freelancers or self-employed in the US, with approximately 4 million Americans providing work through gig marketplaces like Lyft or Airbnb. Intuit and McKinsey’s Study on GIG EconomyĪccording to a recent study by Intuit, the percentage of Americans in the gig economy was 34% in 2016 and is expected to grow to 43% by 2020.
On the other side, with advances in broadband and cloud computing, companies are finding that remote work is a cost-efficient and productive option for them. The future reality would be that people tend to change careers several times throughout their working lives this is the evolution of the gigpreneur economy, can be seen as a future trend. Instead of relying on an employer to hire you and give you a job, you make your own.
#DEFINE GIGECONOMY PROFESSIONAL#
I think we’re going to be looking at a professional scenario where to have a job you are an entrepreneur. We are on the cusp of the technological revolution which is enabling a fence sitter in becoming an entrepreneur, and it would eventually become the first option for people in the future to come.ĭue to digitization, many jobs are getting automated, and this has become more prevalent across industries. A gig economy is an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. It is an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. It is the beginning of a new future gig economy. Imagine for a second, that our tomorrows economy where Organizations are motivating employees (contractors) who have never set their foot in the office.
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