Chances are you’ve heard of the gig economy. Workers take on random projects for either additional income or instead of full-time employment. Because the gig economy is increasing in popularity, it may substantially impact the way you earn income. Here are some ways the gig economy may affect your career.

What the Gig Economy Is

In the gig economy, workers of all backgrounds, skill sets and experience levels complete individual projects either to earn additional income or as an alternative to full-time employment. Because workers take on projects that fit their schedules, they decide when and where they work and when they take time off. Also, because gig workers have flexibility and control over their schedule, they can fit in projects around their personal needs, creating a greater work-life balance. Gig workers who accept side projects in addition to their full-time jobs typically report higher incomes and increased quality of life as compared to full-time employees in the same roles.

Advantages of the Gig Economy

Gig workers have more control over their schedule. Because they have increased flexibility in their work hours. Because they take on random projects, workers can cultivate a variety of skills and gain experience in new areas. This adaptability keeps gig workers busy earning income in a variety of fields. Furthermore, gig workers deal with a wide variety of clientele. This enhances workers’ people skills and helps them relate to individuals from different backgrounds. Plus, gig workers can choose projects that fit their interests. Additionally, gig workers can teach others about areas that they excel in.

Disadvantages of the Gig Economy

Gig workers need a steady stream of projects to earn consistent income. Workers need to bring in enough income to cover benefits, retirement funding and other personal needs. In addition, because gig workers don’t get paid if they don’t work, their income goes down when they take time off. Workers may need to secure part- or full-time employment to bring in enough income to support themselves and/or their families. Plus, workers may desire set hours or want third-party direction for how they spend their day and/or meet deadlines.

The Gig Economy and Staffing Agencies

An agency may have a mobile app promoting short-term projects to contingent workers, and workers can decide whether to accept or pass on the projects. Gig workers partnering with staffing agencies also benefit because the agencies hire workers as employees, and employees receive minimum wage, overtime, unemployment insurance and benefits such as health insurance.

Work With a Leader in Property Management Staffing

For assistance with securing your next property management position, reach out to NPM Staffing and work with a leader in apartment staffing agencies!