Gig Economy is an environment in which temporary and flexible positions are common and organisations tend to engage with independent workers or freelancers for short-term contracts.
The Gig Economy is creating new economies that didn’t exist before, encouraging innovation and bringing suppliers and customers together. The concept of work is changing as we know it and could give you an alternative revenue stream or greater flexibility in how you work.
Giants such as Uber and AirBnB are giving people a platform where they can drive or rent out their homes for money.
Freelancing platforms are readily available as well, such as AceLancer Bay.
The Gig Economy allows your job to fit your lifestyle and allows you to chose when to work and when to focus on other matters. Gig-ing can be very tempting to those who can only work part-time, or wishes to earn more on top of a full-time position.
Taking part in the Gig Economy would suit those who don’t wish to report to another boss and are able to be their best salesmen and creators of professional work, thou with freedom does comes risk of irregular income.
Using freelancing platforms can be a tricky issue as well as you would be competing with others looking to complete the same job. It’s always tough at the start but as you continue to do professional work and receive positive ratings, the incoming work would start to get more regular as you build up experience.
The really awesome part of the Gig Economy is that it is not bounded by any age limits and anyone can take part and achieve something for themselves.
The sky’s the limit so if you are already freelancing or yet to start, don’t give up and keep on going!
Freelancing is becoming the norm in the new economy where people are connected to on demand services at the touch of a button.
A recent study in America showed that from 2014 to 2015, there was an increase of 700,00 new freelancers entering into the new economy. 60% started freelancing by choice and see it as a viable career option.
1 in 2 freelancers would not stop freelancing and switch to a full time job with an employer no matter how much they were paid. This represents a change in mindset that working a full time job is the only way to carve a career.
In 2016, 60% of freelancers surveyed earned more doing freelancing and 3 in 4 earned more within the first year.
The brightest days for freelancing are yet to come, according to 83% of respondents.
On the local scene, NTUC has set up freelanceXchange to provide support services that help make freelancer life’s easier and more sustainable. They hope to create a better future of freelancing for everyone.
According to their Facebook page:
“There are about 200,000 freelancers and self-employed workers in Singapore and this number will continue to grow. Passion, flexibility and industry norms are reasons why an individual choose freelancing, as a professional, part-time or project basis. To support and empower freelancers in nurturing viable careers, and represent their collective interests as one united voice.”
From PM Lee of Singapore:
“And in light of the changing workforce, Mr Lee called on the labour movement to not only rally the workers, but to widen its reach to cover not only PMETs but also new economy jobs.
“If we keep the labour movement to the old formulation, which is the bargainable blue-collar workers mainly, I think we are just going to represent fewer and fewer people, and that’s bad for the labour movement; that’s bad for Singapore.
“We need you to be representative, to be strong, to have a vibrant base, to be able to do good things,” Mr Lee said.
“And that means you have to widen, you have to expand, from the union movement, to the labour movement, to cover the professionals, to cover the new economy jobs, even Uber drivers, even those who are doing freelancing. We have to find ways to bring them in.”
Definition: New Economy is the result of the transition from a manufacturing-based economy to a service-based economy.
We are now living in a hyper-connected world where we can easily communicate and work with anyone in the world right now, even in our own homes if we chose to. Gone are the days where it would be mandatory to go to an office to work and build a career. Freelancing is becoming a viable career option in this age due to the advancement of technology and communications which is making this possible.
On the business front, with uncertain economic conditions looming, more employers are driven to in a way, to “share” an available pool of independent contractors and freelancers to fulfill their project delivery obligations and stay competitive and afloat in a global economy to ride out storms. When the going get tougher, more people might be displaced and freelancing may become an option grown out of necessity for some individuals to better cope with their loss of jobs. They may seize the opportunity to turn the situation around to make it a sustainable career option.
AceLancer Bay aspires to be the platform, a home of sort, for serious and well-respected professional freelancers whom we call AceLancers rather than be vulnerable individuals with limited resources. We do not just provide mobile apps platforms in ios and android but importantly a web portal with a forum to engage and build a community of freelancers and independent contractors who can market their services, network, make contacts and even collaborate to leverage on synergies of their various skillsets to take on more challenging projects that one in silo would otherwise not be able to take up. This forum is in fact one of the more significant aspect of our integrated online platforms with members sharing their challenges such as payment issues or setting of prices instead of being exploited when less informed. Equally important is the positioning of freelancers as professionals as they must also up their game, no less.