The economies of the world are shifting, so we can only assume that our South African economy will follow suit and also make the move towards the gig economy.
A gig economy is a free-market system where the emphasis is placed on temporary freelance jobs rather than the routine nine-to-five workers.
The United States of America is heading up this change with 56.7 million freelancers or approximately 34% of their workforce already making up their gig economy, a 30% increase since 2016.
This section of the workforce contributes nearly $1.4 trillion to the economy every year and is only predicted to rise and make up 43% of the economy by the end of 2020.
The United Kingdom is following these footsteps with 15.6% of their workforce making up their gig economy.
With youth unemployment levels in South Africa at 52.85%, it is only natural that individuals are attempting to find other sources of income.
Easily find the job you are looking for
Luckily with trusted integrated recruitment platforms such as JOBVINE, it is becoming increasingly easy for freelancers and employers to find what they are looking for.
Since JOBVINE launched their freelance platform in 2019 over 49,000 freelancers have registered profiles on the website and subsequently more than R9.5 million in freelance jobs has been offered.
Freelancers in Cape Town have accounted for over 50% of the gig allocation on JOBVINE.
You might be asking yourself, why is this shift to a gig economy beneficial to those parties involved? For the freelancer it means a decoupling of location and assignment.
Work anywhere and anytime
Not only can freelancers work anywhere and anytime they want, thereby improving their work-life balance, they can also select the jobs that they are specifically interested in and qualified for rather than being forced into a specific role by a company.
Stay ahead of the curve
Freelance work allows an individual to either be fully self-employed or to have an extra stream of income and an opportunity to stay above the rising living costs.
It has been stated that in South Africa 39% of the workforce have a secondary income.
There are many advantages to companies when hiring freelancers, so it only seems natural that this trend will accelerate and in 2020 more companies will be looking to replace their full-time employees with these independent and innovative substitutes.
Everyone has free time and freelancing is an ideal way to monetise this time thereby maximising your earning potential and staying ahead of the curve.
It is also an intelligent and lucrative move for you to become a freelancer, before you get replaced by one.
This article was published in partnership with JOBVINE.