The Pros and Cons of Gig Work

The gig economy: most of us have heard of it, many of us work in it, but few truly understand what it is. While it's easy to write "the gig economy" off as a buzz phrase used by techies and startup founders, it's an important concept that has far-reaching implications for employees and managers in most sectors

The reported effects of the gig economy vary depending on who you talk to. There's no question that, in the last several years, the gig economy has exploded to epic proportions, which is both a blessing and a curse.

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On one hand, workers who were previously unable to find a job can now make a salvageable living performing "gigs" on their own time. This opportunity provides a high earning potential, lots of flexibility (perfect for families and students, for example), and freedom from the dreaded 9-5 job. According to Recode, 30% of the U.S. workforce is currently self-employed, and those numbers are projected to balloon in coming years.On the other hand, though, the gig economy has effectively destroyed or replaced long-standing industries and impacted many payrolled workers in the process. Uber, for example, is putting the taxi industry on notice, while Airbnb is causing ripples for hotels throughout the country and the world.

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