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What is a Gig Economy? Benefits and Challenges of Gig Workers

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We’re in the gig economy. Watch to learn more about what a gig economy is and why there’s a trend towards hiring independent workers.

A gig economy is a free market system where temporary positions are common and organizations hire independent workers for short-term commitments. Gig employees include freelancers, independent contractors, project-based workers, and temporary or part-time hires.

Gig economies save businesses resources when it comes to benefits, office space, and training. It allows companies to contract with experts for specific projects who might be too expensive to hire full time, and also offers freelancers an appealing work-life balance. But, there’s some downsides to the worker — including low pay, lack of benefits, and sometimes unfair classification as a gig worker.

Are you an independent worker? Does your business hire freelancers? How has it worked out? Let us know in the comments and remember to give this video a like.

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