The evolution of work has been very dramatic in the last decade. Changes in how we work and what we do have been altered today than ever before. So many companies have sprung up to solve modern problems all over the world, and we are more connected than we have ever been.

Traditionally, post-school career has been structured, defined and linear. Today, both schooling and working has been significantly disrupted. Online and on-demand alternatives have been developed for every level of education, while freelance and spontaneous career path are increasingly popular. The general term used to refer to those freelance and independent jobs is the gig economy [borrowed from the music world where performers book short term engagements called “gigs”]

Investopedia defines gig economy as a labour market that relies heavily on temporary and part time positions filled by independent contractors and freelancers rather than full-time permanent employees. It is favoured by younger generation of workers for its flexibility and independence.

There are two reasons why I am sharing the gig economy with you, friend: first, how it will affect existing employment structures, and second, why you should take advantage of it too.

Many jobs are evolving. Remote and hybrid flexibility have been introduced to corporate work in large scale since 2020, and this is changing the game. In the coming years, it is expected that many roles will be outsourced since they are increasing becoming non-essential. For instance, the introduction of software as a service (SaaS) immediately replaced many permanent job roles in the computer programing space, and we expect more of such innovations in the coming years.

Next, the gig economy also presents a golden opportunity for career persons to operate a non-competitive service to customers outside their paid hours. You can develop a profitable skill to offer some services in compliance with your non-compete work policy. The gig economy makes this possible.

I will keep rooting for you. Cheers.