HR Glossary

HR terms frequently used by HR professionals.

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Gig economy

What is the gig economy?

The gig economy comprises independent workers who provide on-demand services to individuals or companies across industries. Workers get paid in exchange for services provided.

What are the cons of the gig economy for companies?

Temporary workers. As gig workers are paid for short-term tasks, they constantly are searching for work. Being temporary/freelance workers, they can stop e to stop providing services for a given client at any time.
Ethical issues. As employment is casual and no benefits are given to contractors, companies can get into an ethical dilemma.

What is an example of a gig company?

Cloud-based platforms such as Upwork, Fiverr, and Peopleperhour have made it easier to bring independent workers and clients together.

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