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3 Reasons Why the Gig Economy is Sticking Around

The gig economy was seeing an increase in popularity even before the COVID-19 pandemic hit. In 2017, 53 million people in the U.S. were considered “gig workers,” also known as freelancers or contractors. 

Since the COVID-19 pandemic, the gig economy has become more popular than ever. Many people have been laid off of work. Others have been required to work remotely for the first time. 

Even though businesses are starting to re-open and everyone is adjusting to a “new normal,” the gig economy likely won’t show any signs of slowing down from this point forward. With that in mind, let’s take a look at three reasons why it’s here to stay. 

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1. It Offers a Better Work-Life Balance

Stress is often the number one complaint of employees working in an office setting. Many times, that stress is a result of being overworked, and not having enough family time at home. Or, simply not having the time to do things for yourself. 

Because gig workers have more flexible schedules, they can choose how to balance their work time with their “life” time. In turn, that reduces stress. It’s one of the reasons why many gig workers are more productive as freelancers than they ever were as a full-time office employee. 

2. It Offers the Opportunity to Learn New Skills

Many contractors work jobs that are very specific to their skillsets. Whether you’re a graphic designer, a writer, or a marketing guru, you’ll probably gravitate toward gigs that focus on what you’re good at. 

But, because the gig economy is constantly growing, the workers need to be willing to grow their skills and learn new ones. Employers and individuals alike are constantly looking for the right talent for different gigs/jobs. Thanks to sites like Fiverr, Upwork, and Snupit, it’s easy to find someone that can fit a particular job’s needs. If someone wants to stay competitive in the gig economy, it’s important to keep learning and growing. Thankfully, if you’re a gig worker, there are plenty of opportunities to continue to learn and market your new skills to gain more jobs. 

3. Gig Workers Control How Much They Earn

Because the gig economy is growing so rapidly, it offers unique opportunities for seemingly endless growth. Simply put, a gig worker can work as much or as little as they want. 

For example, if you’re a contractor and you’re trying to save money to pay off old debts, you might take on extra jobs for a few weeks in order to make more money. If you’re in a good place, financially, you can ease off and enjoy a bit more free time. 

Gig workers also get to keep more of what they make, with many getting paid directly from individuals or businesses. While the amount of money a contractor makes depends on the jobs available, the right person can easily make more than what a 9-5 office job could provide. 

Whether you’re an employer considering hiring a gig worker, or someone wanting to try out the gig economy for yourself, there are plenty of benefits you have to experience to fully believe. With that in mind, it will likely continue to grow in popularity and success, so getting on board now could help you to reach personal success along the way, too.

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