Firstly, as millennials become a majority in the top layer of business management and Gen Z gets inducted into the workforce, the conventional attitude towards work is changing. The liberty to freelance is becoming a lucrative proposition because it allows employees to focus on multiple other things than just work. Most importantly, it provides an opportunity to the workforce to maintain a healthy work-life balance which reduces the risk of burnout and fosters productivity. Today, more people than ever are aware of the negative health effects of overwork and stress, and there is an increased focus on wellness. Working multiple ‘gigs’ gives employees more control over how they manage and prioritize their time.
The gig economy also provides employees with the freedom to choose the time and place of work. It comes as no surprise that 43% of employees consider a flexible schedule as the most compelling reason to work independently.
Additionally, the gig economy allows an employee to work on multiple projects for multiple companies simultaneously. This not only helps expand an employee’s skillsets while letting him/her explore new opportunities, but also reduces the risk of job loss or loss of income. In most cases, this also results in higher earnings for gig workers than their FTE counterparts.
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