GIG ECONOMY MYTHS BUSTED!

The gig economy is a free labour market system where temporary positions and week-based engagements are common and organizations look and hire independent workers for a short period of time. The word ‘gig’ is essentially used as slang to describe a job that lasts for a specified period of time. Though the gig economy has become popular today, there still exists a few common myths about the gig economy. We took some myths and it’s time for us to bust the myths and show you the reality.

Myth 1: Gig work is Unsatisfactory

There’s a perception that gig jobs are unfulfilling and dead, but that’s not true! As a gig worker, you have the option to work across diverse industries, take up multiple job roles simultaneously. You also have the opportunity to negotiate and demand wages, so that’s definitely going to make you happy.

Myth 2: Gig workers are Millennials

Definitely not! A recent study conducted by EY says that even though millennials take lead, they just stand a percentage ahead of the boomers and Gen Z. Therefore, the gig economy has a healthy combination of people belonging to distinguished age groups.

Myth 3: Gig work is mostly one-time shifts

NO. The term gig applies to everyone who is an independent contractor or contingent worker who opts to work for a company in a non-employee capacity. While gigs can refer to quick shift work, like working in hospitality, warehouses, or performing specific services like merchant onboarding, partner onboarding and so much more. It just depends on the arrangement between the gig employee and the client company.

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