There’s a new trend in capitalism, and despite its downsides, it might actually be a good thing for U.S. workers. It’s called the Gig Economy.
Since and even before the recession of 2007, companies have been hiring fewer full-time employees in favor of temporary workers, freelancers, and contractors. For workers, there are some disadvantages of going from project to project rather than working full-time for one employer. For example, unpredictable income, and a lack of access to government benefits such as unemployment and their employer’s half of social security are downsides. However, what workers lose of the established way of doing business, they can make up for in other ways.
Forbes Magazine says technology has democratized the ability of workers to sell their services, and it’s right. Today’s digital nature of work and communication makes it easy for people to sell their services – at their price – directly to those who need them, rather than through a large corporation that employs them. Workers are also enjoying a new level of mobility, which makes it easier for them to work from wherever they want, without the need to be in the same office as the people paying them. And sites like Airbnb, to name just one, have allowed workers to diversify how they make money, by using resources they already own.
What’s emerging as a result of the Gig Economy is an entrepreneurial system in which labor isn’t losing power, but gaining it. Skilled specialists, consultants, industrial workers and others are forgoing the single-employer model in favor of being their own bosses and negotiating their price. One study suggests that by 2020, more than 40% of the U.S. workforce will be independent workers. If their numbers continue to climb as predicted, the abandonment of the traditional employment model by many workers could be permanent.
Visit TRC Staffing Services, Inc to browse “gigs” as well as full-time opportunities that may be a fit for you.