Technology - and COVID-19 - has created the perfect combination that has changed the way we work and where we work. Thanks to computers and the internet, working from home was beginning to trend. The pandemic forced many to remote working situations and has led to an explosion in the world of the gig economy. The word “gig” comes from the musical entertainment field where a musician or performer would be hired for an event here or an event there in the format of odd jobs. The term “gig” dates back to the 1920s when working these types of gigs, where no long-term commitment existed, became the norm for entertainers who would often travel great distances for their gigs. In today’s world, gigs are common for freelancers like me, on-demand workers, self-employed workers, and sellers.
The Pros And Cons
There is most certainly a great deal of attraction for individuals to work from home without having to fight traffic to get to the office and deal with a boss or other co-workers who drive you crazy during the day. However, as appealing as that may sound, the reality for some who look to the gig economy for employment is that it doesn’t come with some of the extras you may expect. You truly have to weigh out the differences to determine if the gig economy is perfect for you.
The Cons
I'm going to cut to the chase by first taking a look at the disadvantages of gig work just to get it over with.
1 - No Perks
Well, there are some perks, but if you are accustomed to having something like a stellar health insurance plan with dental coverage in place through your employer, that won’t be the case when you become a freelancer. Sure, you can join one of many different coverage plans aimed at the gig economy, but it won’t be the same as it will be based entirely on what you can afford.
2 - Sick Days And Vacation Times Will Now Cost You
Now that is a real bummer. But I warned you, didn’t I?
3 - Work Is Going To Be Sporadic At Times
Even with contracts in place, your weekly work schedule will never be a nine-to-five format ever again. Although that is attractive for many freelancers, for others, it’s a scary concept that translates to instability and that will impact your monthly earnings.
4 - You Cover All Your Work Costs
Remember when your work computer needed upgrading or replacing? The company you worked for took care of that for you. Once you enter the gig economy, those things disappear and now become your costs. Everything from pen and paper to computer software and printer toner will be coming out of your pocket.
The Pros
1 - You Have Greater Control Over Your Work
One of the biggest advantages to the gig economy is how much say you get with your work. I love that. You get to choose who you will work with and you get to choose what kind of work you will provide, how much you will charge for it and how long you will work per day when you will take time off, and so on.
2 - Just About Anyone Can Do It
The gig economy is not just for freelancers who either lost jobs because of COVID shutdowns or have never been able to find the right job fit. Many business professionals have opted to use the gig economy for their careers and have been very successful at it.
3 - You Get To Work With Many Different People
There is no restriction in the gig economy related to who you will work for and where they are located. Freelancers like me have clients all over the world and would never have had the ability to work with such a diverse selection of people without the internet and gig economy.
4 - It Is Easy To Get Into
There are several different freelancing websites online that are designed specifically to address the gig economy. And they are not just tools for finding work for writers, digital marketers, or medical transcriptionists. The freelancing sites online feature categories that cover all kinds of skills for workers to offer their services.
The Bottom Line
The gig economy is what has changed my life since I switched from a full-time employee/employer to a full-time freelancer. For example, in March 2021 I completed a total of 10 jobs (1 from Fiverr, all others came to me directly) which including 45 articles (33 of which were under contract). I wrote a total of 64,775 words on topics that included casinos, data loggers, RV parks, dentures, sailing accessories, humidity control, and drone services. My work came from the United States (6 jobs), Australia (3), and the United Kingdom (1). I keep saying this: if I can do it, anyone can. Maybe it is time you considered the gig economy.
The Pros And Cons
There is most certainly a great deal of attraction for individuals to work from home without having to fight traffic to get to the office and deal with a boss or other co-workers who drive you crazy during the day. However, as appealing as that may sound, the reality for some who look to the gig economy for employment is that it doesn’t come with some of the extras you may expect. You truly have to weigh out the differences to determine if the gig economy is perfect for you.
The Cons
I'm going to cut to the chase by first taking a look at the disadvantages of gig work just to get it over with.
1 - No Perks
Well, there are some perks, but if you are accustomed to having something like a stellar health insurance plan with dental coverage in place through your employer, that won’t be the case when you become a freelancer. Sure, you can join one of many different coverage plans aimed at the gig economy, but it won’t be the same as it will be based entirely on what you can afford.
2 - Sick Days And Vacation Times Will Now Cost You
Now that is a real bummer. But I warned you, didn’t I?
3 - Work Is Going To Be Sporadic At Times
Even with contracts in place, your weekly work schedule will never be a nine-to-five format ever again. Although that is attractive for many freelancers, for others, it’s a scary concept that translates to instability and that will impact your monthly earnings.
4 - You Cover All Your Work Costs
Remember when your work computer needed upgrading or replacing? The company you worked for took care of that for you. Once you enter the gig economy, those things disappear and now become your costs. Everything from pen and paper to computer software and printer toner will be coming out of your pocket.
The Pros
1 - You Have Greater Control Over Your Work
One of the biggest advantages to the gig economy is how much say you get with your work. I love that. You get to choose who you will work with and you get to choose what kind of work you will provide, how much you will charge for it and how long you will work per day when you will take time off, and so on.
2 - Just About Anyone Can Do It
The gig economy is not just for freelancers who either lost jobs because of COVID shutdowns or have never been able to find the right job fit. Many business professionals have opted to use the gig economy for their careers and have been very successful at it.
3 - You Get To Work With Many Different People
There is no restriction in the gig economy related to who you will work for and where they are located. Freelancers like me have clients all over the world and would never have had the ability to work with such a diverse selection of people without the internet and gig economy.
4 - It Is Easy To Get Into
There are several different freelancing websites online that are designed specifically to address the gig economy. And they are not just tools for finding work for writers, digital marketers, or medical transcriptionists. The freelancing sites online feature categories that cover all kinds of skills for workers to offer their services.
The Bottom Line
The gig economy is what has changed my life since I switched from a full-time employee/employer to a full-time freelancer. For example, in March 2021 I completed a total of 10 jobs (1 from Fiverr, all others came to me directly) which including 45 articles (33 of which were under contract). I wrote a total of 64,775 words on topics that included casinos, data loggers, RV parks, dentures, sailing accessories, humidity control, and drone services. My work came from the United States (6 jobs), Australia (3), and the United Kingdom (1). I keep saying this: if I can do it, anyone can. Maybe it is time you considered the gig economy.
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