A lot has happened to the workforce over the last ten years. Most Millennials and several Gen-X’ers were forced to rethink the way they earned a living. For them, time had become an irreplaceable commodity. To earn a decent living, they adapted accordingly, especially in the sharing industry.
Without question, this has benefited the business model of Amazon – people who preferred to shop from home stimulated the need for personalized services more than ever before. These services were particularly attractive to those who spent most of their times indoors, either because of work or by choice. Such people could get their homes cleaned for them or have their meals delivered from their smartphones. The people who did these tasks were gig workers, many of whom were doing work for people who worked as a gig worker in their own way. This is indicative that the on-demand service industry will continue to grow over the years, especially since younger generations who are raised on technology will overtake those of us who are used to shopping from urban malls or doing our own housework.
Could this evolution be attributed to the never-ending barrage of technology we are faced with? This reinforces our belief that the economy as we know it is progressing towards personalized service gigs, and that technology will continue to grow to accommodate those who earn a living from such positions.
Of course, there are many factors to consider in this otherwise broad belief, but one thing is for sure: traditional organizations will keep offloading risks to the worker when possible. It is also likely that contract work will continue to prosper while traditional positions that include salaries and benefits gradually become unattainable. If that is the case, where will this bring us?
There has never been a more important time for new entrepreneurs and businesses to come to the limelight, particularly ones that don’t warrant substantial capital. The global economy’s sea change is insecure and uncertain. It should be handled by launching common networks in big verticals. Independence and innovation inside the workforce should also be encouraged.
There is great momentum towards the rise of task-oriented gigs, which implies that the economy is in the process of regrowth. This can be attributed to small business streams of revenue rather than traditional 9 to 5 sources of income. At some point, probably sooner than later, we’ll be referring to this paradigm shift as “the economy,” rather than the “gig economy.”