Pros and Cons for Workers in the Gig Economy

Gig Economy

There is no doubt that we have moved into a world of the gig economy. This means that more people are doing their jobs based on short-term contracts and freelance positions rather than taking on stable full-time contracts. The question remains, is this a positive step forward for workers? Ultimately, when trying to answer this question, the article will need to look both at the pros and the cons for workers. Keep reading to find out more to learn more detail about this right here and now.

Pros

Increased Flexibility

On the plus side, there is the increased sense of flexibility that is provided by the gig economy. Essentially, this means that people are able to search for the contracts and jobs that fit around their own lives. This is made easier by a system such as a load board which allows you to search for hundreds of jobs. With more people looking for a strong work/life balance, this is certainly a system that allows you to have this in the right circumstances.

Variety of Jobs

Nowadays, it is not just unskilled jobs that can be found on a temporary basis. There are all sorts of different contracts you are able to obtain which could prove to be perfect for you. For example, you have all of the creative positions out there, such as copywriting and graphic design. Not only this, but there are plenty of technical jobs like software engineering and web development that are easy to obtain on a temporary or a freelance basis.

Cons

Fewer Benefits

Of course, while there are plenty of upsides, there are also the inevitable downsides that need to be considered as well. To begin with, there are fewer benefits to speak of. This is not the case when you are in a full-time position, and you are able to access sickness and holiday pay, to name just a couple of the main advantages. This puts increasing pressure on yourself to be able to build up your own savings and have the security in your bank account to be able to back yourself up.

Less Stability

Essentially, this point comes at the other end of the spectrum to the increased flexibility that we already discussed earlier in the blog post. For some people, the thought of not having a regular and stable income is one that scares them. Also, there are other ways in which a lack of stability can have an impact. For example, you do not get the experience of always seeing the same set of colleagues when you are at work, and you are in a position in which you need to prepare yourself to be the ‘new person’ all the time. Naturally, this does have some positive elements to it. You get the opportunity to meet more people than most.

All of these points represent some of the main reasons why the gig economy is a double-edged sword, but this is something that could be said about all working styles.

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