New work formats, market needs and professionals’ goals generate a search for a business model that fits the dynamics of the market. That’s why Gig Economy emerged as a response to new demands.
The term defines a more flexible system of work, both for the professional and for the company. The hiring is customized and depends on an agreement between the needs and objectives of both parties. The technological sector was probably responsible for a large part of these changes, since it is a pioneer in the implementation of this economic model.
Gig Economy is the best way to conceive the freelancer job today. “Temporary” and “casual” are two of the most common words to define the term gig in English, which applies to the work of these autonomous professionals. As Adzuna explains: gig economy represents short term contracts for specific projects, in which it is possible to choose the professionals with the exact skills that the project requires. The remuneration is determined previously or based on performance, according to the results achieved by the professional.
Due to the characteristic of freedom and personalization of the workday, the tendency is that the economy model grows. A recent Intuit research, for example, estimated that more than 40% of professionals in the United States will work according to Gig Economy until 2020. So, be attentive to the change that can still be generated in your professional life.
Companies such as Uber and Airbnb are great examples of people’s inclination for more flexibility in their daily professional lives and freedom of choice in their careers. To use a platform as a work tool to set up one’s own hours and ─consequently─ one’s own performance, makes it possible for professionals to work at their own pace and choose only the projects with real meaning for their career objectives or even according to their personal taste.
It is the economy of freelancers and digital nomads, which also demands geographical freedom. Professionals who are more productive in non-corporate environments where they feel absolutely comfortable, benefit a lot from the model, because it allows them to work anywhere (depending on the conditions during the contract negotiation, of course). The possibility of working from your favorite coffee or home-office also stimulates the productivity and creativity. All in all, the work environment is a great influence on the performance of a professional.
Other factors that must also be mentioned to understand the influence of the Gig Economy on the construction of a career are time management and diversity of experience. Professionals being solely responsible for the choice of their projects means that they need to organize their schedule without depending on fixed timetables. This is certainly a responsibility, but it also allows better control and balance between professional and personal projects. In addition, this management allows professionals to broaden their range of experiences due to the variety of projects they may choose to work with.
Therefore, flexibility is real in Gig Economy, but it demands a lot of organization, attention and care with the professionals’ career management, which includes building and keeping an authentic and different identity from the other professionals of the area. When your income and market positioning depend on your choices, the care with the search and maintenance of opportunities should be enhanced every day. Be aware of this “double side” before choosing.
The fact that Gig Economy professionals prioritize projects with which they have affinity is something that companies have ─more nowadays─ seen as a benefit. That’s because the decision is related to professional satisfaction and realization, so to speak, who doesn’t want to have the power to select their own projects? For companies, enthusiastic professionals generate better results with their jobs.
The flexible hiring system also allows organizations to cut costs by strengthening their times. The best of the two worlds! With freelancers working from any place, it is possible to have less structure and, consequently, reduce expenses with taxes, accounts and employees. There is also the option of operating a coworking space. And hiring professionals for temporary work also means that they will be chosen according to specific skills for specific projects, which guarantees assertiveness in the division of tasks and optimization of time.
What also changes with Gig Economy are the selection processes. Concerned about investing time so that the result of projects are visible, recruiters enter into direct contact with professionals after the analysis of their portfolios or profiles in social networks, to the detriment of the traditional sending of CVs. Therefore, for freelancers it’s very important to keep professional networks updated and establish useful contacts. For companies, it means structuring a recruiting system that meets the new logic, reinforcing or updating their own HR time or even hiring third-party companies specialists in talent identification, for example.
Therefore, companies are also adapting and seizing the new labor relations made possible by the Gig Economy, which demands that professionals understand negotiation techniques ─the most common practice of the gig system.
Gig economy is quite convenient for freelance professionals, but it requires detailed organization of all the factors it shelters, from finances management to the availability of writing materials on your desk so that they are always within reach. To have total control of the career and work routine is a great responsibility, mainly when we are talking about a relatively unstable model. For example, there is no fixed salary or guarantee of being employed after a project ends.
For this reason, Adzuna already helps you to take the first step, making available several vacancies in our search engine. Do your search now!