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Explosive Research Reveals Unstoppable Gig Economy: Demand Skyrockets For Payments Innovation
Excerpt from an article by Anjum Khan for People Matters.
“Interestingly, the study shows that 60% of the participants ‘work multiple gigs, of which 23% have more than three gigs.’ As per the report, people enter gig work with realistic expectations about potential earnings.”
PayQuicker's new study illuminates the diverse nature of the booming gig economy and the shifting expectations around work and payment. The research underscores the essential need for innovative payment solutions that cater to the gig workforce. As gig workers continue to prioritize 'intentional money' and on-demand payment options, fintech firms should rise to the challenge and adapt to these evolving preferences.
Full story: Gig economy to exceed US$1 trillion in the United States
The Game-Changer of Background Checks in the Gig World
Excerpt from an article by Ben Chapman for Gig Wage.
“Background checks enable businesses to verify the credibility of gig workers and ensure their claims align with reality. This helps reduce the risk of fraud and identity theft, safeguarding businesses from financial losses and reputational damage.”
As the gig economy grows, businesses increasingly rely on contractors. Comprehensive background checks for these workers are essential for fraud prevention, compliance with regulations, and trust building. A talent-first approach to background checks advocates for streamlined onboarding, flexibility, control over information for workers, privacy protections, and ongoing monitoring, ultimately building trust while reducing workplace fraud.
Full story: Importance of Background Checks for 1099 Gig Workers
Gig Economy Boom Changes Economy, Raises Policy Questions
Excerpt from an article by Samantha Delouya for CNN Business.
“Gig workers float under the radar when it comes to being officially counted by the federal government. The last BLS survey on workers in short-term jobs and alternative working arrangements found that just 1% of the workers used an app to work. Susan Houseman, director of research at the W.E. Upjohn Institute for Employment Research in Kalamazoo, Michigan, said her research indicates the federal government significantly undercounted all independent contract workers in the survey.”
The gig economy, driven by platforms like Uber and DoorDash, has surged during the pandemic, impacting the economic landscape. It offers a flexible income source, reduces personal debt, and potentially lowers unemployment rates. However, a lack of comprehensive data on gig workers could hamper informed policy making.
Full story: The rise of gig workers is changing the face of the US economy
Hybrid Work: An Illusion of Choice, Says Atlassian VP
Excerpt from an article by Jane Thier for Fortune.
“Hybrid is an illusion of choice,” Dean tells Fortune. Mandatory office attendance, which Dean calls “the crux” of hybrid plans, is more sinister than it looks, and most workers don’t acknowledge how central they are. By mandating any amount of time in the office, companies remove many potential benefits for the employee “and much of the benefit for the company.”
Annie Dean, VP of Team Anywhere at Atlassian, dismisses hybrid work as an "illusion of choice". Asserting that true flexibility lies in fully remote work, as any in-office mandate detracts from the potential benefits of remote work. Dean counters arguments for office work by emphasizing the power of remote work in providing lifestyle benefits, financial perks, and location flexibility.
Full story: Hybrid work is not the future, says Meta’s former director of remote work: It’s an ‘illusion of choice’
Generative AI: A Job Creator, Not Killer in Gig Economy
Excerpt from an article by Dan Patterson for ZDNET.
“Artificial intelligence will augment work and could add more opportunities to the job market rather than tank it, according to tech executive Gali Arnon. While some fear that AI will erase huge numbers of roles, Arnon argues that AI will accelerate the pace of job creation, augment work, and accelerate startup opportunities.”
Generative AI won't dominate the economy but will create more job opportunities, says Fiverr's CMO, Gali Arnon. The technology can augment creative work and speed up manual tasks, leaving more time for creative and interpersonal jobs. As expected, it's argued, responsible and ethical use is needed for successful integration. We don't expect discourse on this topic to dampen anytime soon.
Full story: This is how generative AI will change the gig economy for the better
Thanks for reading. Stay tuned for the next Independent Era™ Roundup. In the meantime if you stumble across a story you think we need to cover, email us: marketing[at]gigwage[dot]com
