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Gig Economy


There is a section of our economy that has risen to the status of having its own name. It’s called the gig economy. And its members are called gig workers. These are the workers that provide freelance work or work under short-term contracts.

Who’s doing Gig Work?

Before the pandemic there was an estimated 40 million Americans who were doing gig work. Many people who had full-time jobs were doing gig work on the side, because it offered flexibility and additional income without the restrictions of a part-time job.

It has been estimated that more than half of American workers will be independent laborers by 2023.

So what does this mean to employers?

It becomes more obvious when you take a closer look at why the gig economy has grown. The obvious reason is people were not making enough money at their primary jobs.

Another more subtle reason, is that people were not feeling valued or recognized for the contributions they were making on the job.

Doing gig work provides immediate compensation in a direct ratio to the amount of work a person is willing to do. And often, just as important, there’s a certain amount of flexibility that makes it possible to develop a work/life balance.

Employee Retention

While gig work doesn’t appeal to everyone, it’s enough of a factor to be considered when it comes to employee retention.

Experts are recommending that employers pay more attention to their employees. Something as simple as acknowledging a person’s work ethic goes a long way toward making a person feel valued.

Flexibility and Acknowledgment

Looking for ways to build in some flexibility in an employee’s work schedule helps to give them some sense of autonomy.

Providing a forum for feedback is an excellent way to acknowledge employees’ concerns, and give public acknowledgment when employees are going above and beyond.

This forum also gives an employer the chance to acknowledge his/her employees frustrations. This is the place to acknowledge also that some frustrations cannot be remedied and to offer an alternative solution if there is one.

These are simple steps that can be taken to let employees know that they are considered as valuable assets not just than numbers on the spreadsheet.

Cynthia Becker
Life Coach/Wellness Coach
NLP Master Practitioner and Trainer
Professional Psychic

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