Gig Economy Jobs : “A job for a specified period of time”
Gig Economy Jobs: “A job for a specified period of time”
A gig economy is a free market system in which temporary positions are common and organizations contract with independent workers for short-term engagements. The term “gig” is a slang word meaning “a job for a specified period of time” and is typically used in referring to musicians.
When the company like start up they expanded the number of gig economy jobs available. To offer students the best advice to help them navigate this new approach to their career, you need to understand the difference between a traditional career path and one in the gig economy. Here are four steps to take so you can prepare your students for a gig economy jobs:
Long Term Path / Plan:
While taking freelance jobs may seem convenient and “freeing” when your students are young. In Freelancer or Part time work there is no established path for Promotions and taking on new responsibilities. Every move they make has to be self-directed.
When students enter the gig economy with a plan, they can be proactive about their career progression. Start by identifying their goals after six months, a year, three years, etc. Ask them about a variety of priorities like:
- How much they can earn?
- How much hours they can work?
- How to find gig Economy Jobs?
- Types of work?
How the Skills are worth:
It’s important to know the industry salary standards, No matter what career a student chooses. However, with the gig economy, there are a variety of ways freelancers are paid, and it’s not always clear if they’re getting what their skills are worth.
. Some gig economy jobs have set salaries, but if your student wants to work outside companies like food delivery / Part Time work, they can ask for more. Help them learn how they can communicate why a higher rate would be fair without the client thinking they’re greedy.
Look for opportunities where that expand Their Skill set:
Gig workers, however, need to be proactive about learning so their skills don’t stagnate. College students need to learn what career development opportunities are available to them. What courses can help them develop the skills they can use in the future to take on more challenging gigs. Then discuss how they’ll know they’ve mastered the skill and can start advertising it to potential clients.
Possible Drawbacks :
Yes, gig economy jobs offer a lot of freedom, but there are cons students need to weigh now. Without all the information, they can’t make the right decision for them. One of the most significant drawbacks is a lack of income stability; some months there won’t be as many opportunities. If a student needs a sense of financial security for their peace of mind, freelancing and gig work might not be the best option
Potential downsides to gig jobs are:
- While gig economy jobs do allow students to work whenever they want, there’s also no boundary to establish balance. It’s not uncommon for freelancers to end up working insane hours each day because there’s no 9-5 structure.
- Students have to find and pay for their own insurance, which can be a lot more expensive when the plan is part of an employer group.
- With most jobs, income taxes are automatically deducted with each paycheck. Freelancers need to track and plan their payments or they will get stuck owing more than they expected come tax day.
“For many students, the gig economy seems like the best career path and Easy to earn money.
But you can’t let them enter that workforce without guidance.By understanding how they need to prepare, you can set them up for success”