Glossary

Gig economy

The gig economy, also known as the freelance economy, describes an economic system where a substantial portion of the workforce engages in temporary, on-demand, and project-based work arrangements rather than traditional full-time employment. In this dynamic landscape, organizations leverage the gig economy to access a vast pool of specialized skills and talents, enabling them to quickly scale their workforce, tap into niche expertise, and stay agile in response to market demands. Freelancers and independent contractors in the gig economy enjoy greater flexibility and autonomy in choosing projects, while organizations benefit from reduced overhead costs, faster project delivery, and access to a global talent pool. Embracing the gig economy has become a strategic imperative for businesses seeking innovation, cost-efficiency, and the ability to thrive in a rapidly evolving marketplace. Some examples of "gig economy" marketplaces include:

Upwork and Fiverr: These are two freelance marketplaces often leveraged for tasks related to graphic design, digital marketing services, web development, and writing.
Uber and Lyft: These are well-known apps in the transportation industry that connect riders with drivers to provide on-demand rides.
TaskRabbit: Originally a marketplace for general errands, household chores, and "handyman" tasks, TaskRabbit was acquired by IKEA in 2017 and now focuses on furniture assembly.
Freelancer.com: Similar to Upwork and Fiverr, Freelancer.com is a global marketplace that allows businesses to post projects and hire freelance talent with expertise in fields such as web development, IT, writing and design.
Rover: Rover is a gig economy marketplace for pet care services. It connects pet owners with dog walkers, pet sitters, and other pet care providers.
Toptal: Toptal is a platform that focuses on connecting businesses with software developers, designers, and finance experts.
Contently: Contently is a platform that caters specifically to the content marketing industry. It connects brands with freelance content creators, including writers, editors, photographers, and videographers.

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