Gig Economy: Ethical Issues and Opportunities-Analysis

Counterpoint (Benefits of Gig Economy):

Flexibility

Research suggests a model of flexibility, combined with the opening of opportunities emerging under decentered and destabilized form of management (Smith, 1997). Gig work has become a mainstream form of employment in the recent years. This helps maintain employee morale and the independence to decide when and where to work so long the product/result is delivered on time. This approach also helps artists and other freelancers tap into their creative potential.

Lower Labor Costs

Employers are exempted from paying for full-time employee benefits, such as, insurance, paid vacations, and overtime (CXC Team, 2023). Also, contract workers are paid by projects, not by hour.

Cost–Effectiveness

The remote nature of gig work enables companies to reduce costs such as office rent, utility bills, work equipment and so on. The funds saved from this can be further invested into new ventures of the business. The gig economy can also help failing businesses scale downwards in times of need (CXC Team, 2023).