The Future Of The Gig Economy

Esther Ng
Esther Ng
July 23, 2020
The Future Of The Gig Economy

As the world adapts to living with COVID-19, many freelancers are concerned about their job security and financial stability. As compared to the traditional economy, the gig economy comprises independent contractors who engage in temporary and flexible jobs under various clients.

During such uncertain times as this, one may think that having a secure and stable job in the traditional economy is a better option. However, that is not the case!

What then is in store for the future of the gig economy in light of the pandemic? Here are 3 ways the gig economy will continue to expand its strength in the new normal.

Greater Awareness for Social Protection

Freelancers are legally considered as self-employed but not been entitled to employee benefits such as paid sick leave and health insurance. Hence, they will not get to experience any benefits.

The onset of COVID-19 has led business owners to be more aware of the importance of ensuring such benefits are provided for workers in the gig economy.

Freelancers across Southeast Asia have also launched campaigns such as the ‘I Lost My Gig’ campaign to disseminate resources. The campaign reached out to many freelancers to offers help and support

Freelancers may have had minimal support in the past. However, these emerging trends are positive indicators for more protected employment. Creating a more transparent relationship between freelancers and clients in the future. 

Increased Job Opportunities

Although the pandemic has reduced the number of gig jobs available, past trends show that this is only temporary as the number of freelancers rises after every economic crash. Hence, in time to come, freelancers everywhere can look forward to more opportunities in the gig economy.

The demand for freelancers is expected to rise over the next few years as more industries begin to rely on them, whether to take on additional workload during peak periods or to provide particular expertise for a short-term project.

In light of constant change, organisations need to become more flexible and streamline to maintain a competitive edge. Retaining a smaller full-time workforce and outsourcing jobs to the global pool of freelancers will enable them to do this.

Pioneering New Workforce Trends

The way we work is evolving.

Companies need to harness the massive potential of this future workforce. It is time for them to be more forward-looking and adapt by beginning to cultivate a more agile as well as blended workforce. This will be the new rise and start of the new workforce trends.

By forming connections with each other, it is the start of your success. It’s either you’re a freelancer who likes greater visibility for your profile or a company that is in need of a reliable and wide network of portfolios. You will find each other through our platform and form a good team!

Gigworks is the one-stop destination for freelancers and entrepreneurs to start doing, growing, and succeeding.

Through our Freelance Marketplace, employers can hire professionals in areas such as Digital Marketing, Software Development, Content Writing and more!

Visit our website to find out how to harness the gig economy and #GetWorkDone.

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