Does gig economy provide flexibility and security?

By Robert Mutasi 

The gig economy has been described as that part of the economy characterized by short-term, flexible jobs, a great many of which is online. 

As this sector expands, there is now an added importance to consider both sides of gig work: the benefits versus its deficits.

On the other hand, gig work provides people with the autonomy to decide when and where they want to work. 

Most people will agree this is an added bonus, and many gig economy workers find it an attractive alternative to the usual 9-to-5 job, especially for those with family commitments or studying or some other personal interest they may be pursuing. 

Just a few examples of people obtaining freedom in setting their schedules include rideshare drivers, freelance writers, and delivery workers.

But the benefits of flexibility come at a cost. Compared with traditional employees, gig workers lack job security, benefits, and protection.

Most gig workers are exposed to financial instability without health insurance, paid leaves, or retirement-savings plans. 

The lack of a guaranteed income also means that they may have to deal with periods of low demand, leaving them unsure of their next paycheck.

Personal stories from gig workers in a variety of sectors underpin this trade-off. 

A freelance graphic designer might appreciate being able to work from wherever he or she wants, but faces an uncertain future when clients dry up; a delivery driver may feel freedom in being able to work at his or her own pace, but when that driver suffers an accident or illness, there is no safety net to fall back on.

Statistical data brings forth these challenges even more. 

Research shows that a large number of gig workers face income instability, and most of them are forced to depend on several platforms just to make a living. 

Moreover, without access to employer-sponsored health care or paid sick leave, gig workers must personally bear these costs. 

Studies point out that one of the most pressing issues for workers in the gig economy is access to health care.

While its benefits are incontestable, obviously such growth needs much better regulation and protection.

Clearly, with the workforce so rapidly moving, policymakers need to coordinate closely with the workers, with gig companies themselves, to construct a more level playing field. 

That collaboration should absolutely be centered on the protection and security of those engaging in the gig economy and not just flexibility. 

Gig economy should provide all workers with the freedom of flexibility and the security of standard employment.