Our world has changed, or is changing drastically. Some may say it has already, while some may deny it. But, economically things have changed.
Think about what we used to have in the past. People were employed, some for 20 to 30 years by the same employer. No amount of flexibility was tolerated. You were either with us or not. People, in a sense, became the properties of the company. Nobody ever thought of anything otherwise.
However, people want to feel like they’re not just income earning machines. They want more from life. More control over who they are and what they do. Hence, the emergence of what came to be known as gig economy.
People no longer want to be shackled by traditional business modes. They want to do things differently. In this era, some people have come to view permanence in corporate life as no longer fulfilling. They seek independence.
Yet, to get into this way of doing life needs great care. Of course, you don’t want to leave your present corporate involvement and run the risk of having it very tough out there.
The Rewards of the Gig Economy
It seems people prefer to work from home or from a remote office. Rewards are incredible. However, risks are inevitable. So for those who may feel that there’s more to life than be confined into some office, away from home, with absolutely no job flexibility, this is your kind of thing.
Some of the rewards include fulfilled careers, since individuals are free to bring what they’ve got to the market. They don’t have to compromise on their true interest, while in the same breath they make money. As opposed to being owned by corporate organisations, people really have a sense of ownership over what they do. Professionally people are actually more in control of what goes around them.
Yet, like I said to plunge into that may cost you dearly. Too much uncertainty out there. This is because, in the business world competition is already fierce. So trying to risk all you’ve got may bring with it lots of hassle. So this says, we must cautiously proceed into the gig economy.
Challenges in the Gig Economy
According to Abdullahi Muhammed on 5 Common Struggles you will Face in the Gig Economy suggests the following:
- Finding a sense of identity can be tricky: what we do for a living becomes a big part of who we are. Personally here’s what I made of that; people in the gig do what they love and love what they do. They get to be employed by various employers, who need their services in particular time periods. That right there, says they enjoy freedom as freelancers. Obviously, to those with traditional thinking this is almost absurd. But that’s our economies today.
- Competition and oversupply of services is rising: competition will also be fierce. As with any economic or industrial involvement, people will find out about opportunities and before you know it, they’re at each other’s’ throats. Of course that’s metaphorical. Because of this, pay will inevitably decrease. Why is that? Well, once an array to choose from is expanded, it’s normal that pay for such becomes low.
- Payment issues are rather common: first, a large number of gig workers and freelancers face slow or no pay from their work. They may invoice and face unresponsive “employer.” Recourse is limited in these circumstances unless a freelancer has funds and wherewithal to initiate legal proceedings. Secondly, there is method of payment. Many employers and marketplaces often use payment methods that are more advantageous to them, rather than the gig worker and take processing fees from them.
- The hassles of running a business are real: you are a solopreneur. You are responsible for marketing, client relations, contracts, and all of the accounting/finance aspects of running a business.
So to really get involved into the gig economy means business, make no mistake about it. Of course, you’ll be able to manage your time, pace and work. At the same time, with every sphere in the industrial life, struggles will rise. You don’t want to be caught of guard.