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HR Glossary

HR terms frequently used by HR professionals.

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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