The gig economy will boom in 2021: Here’s what you need to know

What do a freelance writer, an Airbnb host, an uber driver, and a yoga instructor have in common? They are all members of the gig economy. 

 Business leaders across sectors have seemed to embrace temporary and contract workers now more than ever before, due to economic unrest caused by the COVID-19 pandemic

This is good news for those who prefer flexibility and lower commitment than traditional work models. TechRepublic reported a year ago that the gig economy might be in danger, due to increased regulations. However, new research shows that it has become an appealing option to the American workforce.

According to recent Monster survey data, in light of the coronavirus pandemic, 92% of respondents said they think now is a good time to look into the gig economy. 57% stated they would take some kind of gig job while they’re in-between jobs. 52% suggested they would like a long-term contract with flexible hours. 39% would like a short-term contract or temp work.

Here’s why A recent study by Constellation Research shows that gig economy projects have been 30% more efficient, reduced customer complaints, and were rated highest in satisfaction for gig workers themselves. 

ProUnlimited found that the hottest industries for contingent hiring in 2020 were IT / technology, healthcare, and professional services. For example, here are some roles that saw significant increases: IT analysts by 43%, data engineers by 31%, IT/tech project managers by 23%, marketing managers by 18%, clinical pharmacists by 18%, and designers by 9%.

As time goes by and technological developments continue to emerge at a rapid pace, more and more businesses will look to reduce costs by hiring short-term support to fulfill immediate needs. 

How can you find work in the gig economy?

Active participants in the gig economy call themselves freelancers, independent professionals/contractors, or contract staffers. Motivation to join them can vary. Some wish to break into their desired industries. Some wish to simply be their own bosses. Some wish to constantly stay on their toes by balancing several projects at a time for a variety of clients. 

Finding a gig depends on the type of work relationship you’re after. The first step? Be sure to have a professional resume on hand, updates with current skills and relevant work experiences. Once a stellar CV or resume is ready, so are you.

Many companies recruit for short-term or temporary positions using the same methods they would for permanent roles. This means you could look for openings on the “career” section of a company’s website, following them on social media for updates, or by scrolling on LinkedIn. 

Project-based gigs can be slightly different. Companies on the hunt for these professionals are less likely to go through their standard recruitment process. For this, they often opt to post on dedicated websites for freelancers or gig workers. 

Networking is a crucial practice to thrive when entering the gig economy. Take the time to reach out to contacts in your personal and professional networks about grabbing coffee (via Zoom, of course). Professional networks are one of the most common ways projects are paired with professionals. It’s highly likely that a manager will look within his or her network of contacts before going through the recruitment process.