Freelancing, more often known today as the gig economy, has risen to popularity nowadays. Companies like Uber, Lyft, Doordash and Airbnb have provided professionals with the freedom to choose their own hours and earn at their own pace.
The gig economy has also helped college students earn extra cash between classes. This also helps them pay off their student loan debt. It has created more independent contract work, giving younger workers, aged 18 to 34, more opportunities to earn.
Apparently, students earn more through on-demand work, which ranges from $10 to $20 an hour. This is better than the hourly wages in retail or traditional jobs in the food and beverage sector, which only earns students about $9.16.
Its popularity poses the question about stability for the freelancers. Regular employees have the chance to collaborate with co-workers as well as the opportunity to work on much longer projects, which help them build a community and support network of peers.
According to Workplace Trends, gig workers often jump from project to project, which can limit the support they receive. Companies can support freelancers by giving them training opportunities, resources for professional development and increasing collaborative opportunities for the blended workforce.
It would also be good for companies to build relationships with gig workers, especially with the skill set and flexibility that they can offer. However, Quartz reported that startups in the gig economy have faced criticism for the way they treat their workers.
One investigation by a popular American publication found that Uber is conducting an experiment with behavioral science to lure their independent workers into working longer hours. This entails having them work at times and locations that are not always profitable.
It is important for companies to take care of freelancers since there are a growing number of full-time workers who also have a gig on the side. More and more millennials are earning extra money through freelancing.
