According to the Financial Times ‘there are roughly 1.1m people working in the “gig economy” in the UK — about the same number as in the National Health Service, the country’s largest employer’ – but, what is the gig economy?
The gig economy is a term used to describe a shift in the modern day working world, from a traditional 9-5 job to an environment in which temporary positions, self-chosen hours and independent contractors are the notable driving factors.
So, is the gig economy really going to transform the work place? In short; it already has.
This rapidly growing cultural shift has transformed the work place in less than a decade. The modern work force has become a boom of micro-entrepreneurs and studies have predicted that by 2020, 40 percent of us will be working in this way.
In theory, the idea of the gig economy is highly attractive given the optimum conditions; flexibility perhaps being the most seductive of them all. For the global business leader who has an international client base and values freedom and adventure – the idea of being able to work anywhere from the beaches of St. Tropez to a New York penthouse is an appealing one.
The benefits of flexible working speak for themselves; a happier, satisfied, empowered individual will always be more productive even during uncertain conditions for both business and economy.
In a speech on her economic plan Hillary Clinton said: ‘This on-demand, or so-called gig, economy is creating exciting economies and unleashing innovation. But it is also raising hard questions about workplace protections and what a good job will look like in the future.’
There is no doubt that the higher up the leadership ladder you get; the more limitless the gig economy becomes – giving business members clubs the perfect opportunity to cater to the growing demands of a diverse community of industry leaders, influencers and innovators – providing a curated experience in a constantly evolving world.