A free and global market system depends on the Internet and apps. This is a conditional work transaction in a digital market. Employment here is temporary. Companies hire independent workers through short-term contracts. In this case, just as the employees can take the job independently, the companies also hire the employees according to their skills and pay them according to the quality of the work. All work is app-based, so workplaces in Gig Economy rely on online ratings, and secure payment systems work through the app. It is largely changing society, culture, and the job or business environment.
WHY SUCH NAMING?
Since the work lasts for a short time, it is called a gig. The gig is part of linguistic corruption. The term has traditionally been used in the case of musicians when a band rarely performed. Although not very clear, it is thought to be the reason for naming the gig economy.
CORONA EPIDEMIC AND GIG ECONOMY:
Freelancers are being affected in many ways by the ongoing global epidemic. Some have increased job opportunities, while others are facing adversity. Many organizations have closed down, resulting in people losing their jobs and sources of income, such as the wedding industry vendors. On the other hand, the work of food delivery drivers has increased. During the Coronation period, two types of questions arose: health and employment. Although food delivery workers can survive on income, they are at higher risk of coronary heart disease. Wedding photographers are less at risk because they are at home, but they are facing employment and income problems.
WHY DO PEOPLE TEND TO THIS SYSTEM?
1. The advantage of working independently and easily changing and flexible workplace.
2. Short-term and demand-dependent.
3. You can become self-reliant by working at any time you want from 9 AM TO 5 PM.
4. The convenience of working from home to manage the family.
5. Freelancers can apply for jobs anywhere in the world by staying in their own country and employers can hire workers from anywhere in the world.
6. Business expansion in any country is possible through the app.People are turning to software-based jobs rather than direct jobs to increase the effectiveness of time.
7. Businesses can save their capital by investing less in office space and training.
8. It is becoming possible to make deals with skilled workers with higher wages.
9. Some disadvantages, such as the uncertainty of permanent employment, unpaid leave, and the fact that employers often have trouble getting the job done properly, are still in demand. According to a study, 2020, about 40 percent of Americans will find this field of work independently to become self-sufficient.
TOP 10 GIG WORKER COUNTRY:
1. INDIA.
2. BANGLADESH.
3. PAKISTAN.
4. UNITED STATES.
5. PHILIPPINES.
6. UNITED KINGDOM.
7. UKRAINE.
8. CANADA.
9. EGYPT.
10. NIGERIA.
TOP 10 GIG TASK/WORK PROVIDER COUNTRY:
1. UNITED STATES.
2. UNITED KINGDOM.
3. CANADA.
4. AUSTRALIA.
5. INDIA.
6. GERMANY.
7. SINGAPORE.
8. FRANCE.
9. NEDERLAND.
10. ISRAEL.
Source: The Online Labour Index, University of Oxford.
BMO Wealth Management conducted a study to find out why people are so interested in such work. According to the data, most people, about 80 percent, decide voluntarily, become independently, 42 percent want to take on new challenges and change stereotypes, and about 15 percent, jobs The next retirement needs to be a source of income. Males constitute 48% of the population and females 36%.
Again, most boomers (who were born between 1948 and 1974) find it useful as a means of extra income after retirement, where time is of the essence. Generation-X (born between 1970-1980) is the same as most of them. However, millennials (born between 1981-1996) have less of an idea, although most of them are working in the gig economy, due in large part to their frequent workplace changes and new challenges.
THE GIG ECONOMY IN THE WORLD ECONOMY:
Although the gig economy is very popular in many countries of the world, the impact is not the same in all countries. Some countries have become very dependent on it again. The United States, United Kingdom, France, Germany, Belgium, China, Canada, India, Finland, New Zealand, Spain, Poland, the Netherlands, Ukraine, Belarus, Austria, and the Czech Republic are notable.
Some countries, such as Cyprus, Turkey, Greece, Japan, Romania, Latvia, Hungary, Slovakia, and Slovenia, do not consider this area important. Gig Economy requires an advanced technological environment and online app-based services, so many countries do not want to expand their online business, such as Croatia. But while advanced technology is affordable in many countries, such as Japan, Gig does not want to advance the economy because of the low income of workers and social security.
In the United Arab Emirates, the growth of the gig economy is hampered by the fact that 60 percent of the total workforce is foreign workers, who need work permits. So even if Uber is in circulation, it acts as a booking platform and has to be contracted with a licensed organization (such as a limousine or a taxi company), cannot be operated privately.
THE FUTURE OF THE GIG ECONOMY:
The gig economy will continue to expand in the future due to demand. It will be better and more effective if equality and honesty are fully maintained between the employer and the worker.
KM Firoz, Diploma In Digital Marketing, Data Entry & Lead Generation Expert. Linkedin Profile:
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Article Source: http://EzineArticles.com/expert/KM_Firoz/2838220
Gig Economy has opened a lot of opportunities to freelancers and businesses. Here is the article that explains why hiring freelancers is beneficial for businesses.
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