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New Policy Guide Charts Path to Transform Kenya’s Gig Economy. A new toolkit, developed in collaboration with the Mastercard Foundation, eMobilis Mobile Technology Institute Technology Institute, and Africa Practice, offers a comprehensive roadmap to reform Kenya’s gig economy and create a more equitable and sustainable sector for over one million workers and businesses alike. The new toolkit, titled “A Policy Guide for Digital Economy Progress,” is the culmination of extensive research and engagement with key stakeholders in the gig and digital economy. It offers a detailed policy proposal to address the pressing challenges faced by digitally delivering gig workers and promote the sector’s growth and development. “As a leader in digital skills training, we see firsthand the transformative power of Kenya’s gig economy. This guide provides a clear pathway to create an environment where gig workers can access better opportunities, and where businesses can invest with confidence in this rapidly growing sector,” said Ken Gikunda emobilis, eMobilis Managing Director and Co-founder. Richard Kiplagat, Managing Director of East Africa and Group Chief Commercial Officer at Africa Practice said, “This toolkit represents a significant step forward in shaping the future of Kenya’s gig economy. By addressing regulatory gaps and advocating for worker protections, we aim to create a fair and sustainable digital ecosystem that allows Kenya’s young people to thrive and compete on a global scale.” Read more >> https://lnkd.in/daGqZ_iR

Freelancers and friends, this is a helpful article on the size of the future labor force around the world, and its implications for business and government. For freelancers it reinforces the reality of a tight labor force and the need for more flexible and contingent work arrangements. Here's an excerpt: "For almost two decades, labor markets across advanced economies have tightened—and the trend is set to continue. This article provides a data-driven look via charts to understand the implications. "Labor markets in advanced economies today are among the tightest in two decades, not merely a pandemic-induced blip but rather a long-term trend that may continue as workforces age. "Companies and economies will need to boost productivity and find new ways to expand the workforce. Otherwise, they will struggle to exceed—or even match—the relatively muted economic growth of the past decade. "Actions for companies and policy makers include: 1. Focus on skilling and reskilling, including attracting talent from unconventional pools, offering more flexible work, and internal mobility. 2. Encourage foreign-born workers with programs to properly integrate them into the workforce. 3. Shape retirement policies to encourage people to work beyond standard retirement ages and take steps to attract more women into the workforce, for example, by offering elder or childcare infrastructure. 4. Prioritize investment in labor-complementing and labor-substituting AI and automation to unlock productivity. #freelancerevolution

Join Rewardable https://lnkd.in/gVp4CKJG Rewardable is committed to legitimizing and supporting the gig-based work structure by providing a more formal and reliable framework for gig workers. In an increasingly competitive and changing landscape, this platform focuses on several key features that assist both workers and companies. 1. Structured Platforms Rewardable offers an integrated platform that simplifies the process for workers to find and secure jobs. With a user-friendly interface, workers can easily discover tasks that match their skills. This not only boosts efficiency but also provides a sense of security for workers. 2. Payment Reliability One of the main challenges in the gig economy is payment issues. Rewardable guarantees reliability and security in the payment process, allowing workers to concentrate on their tasks without worrying about delays. This is crucial for building trust and motivation among workers. 3. Enhanced Job Access Through a wide network and strategic partnerships, Rewardable provides greater access to diverse job opportunities for workers. This not only diversifies job options but also increases earning potential, empowering workers in a rapidly changing economy. Rewardable aims to be more than just a job platform; it seeks to create a supportive and sustainable ecosystem for gig workers. With this approach, Rewardable ensures that all parties involved can embrace the gig economy in a more sustainable and beneficial manner. Thus, Rewardable aspires to not only be the go-to choice for gig workers but also to set a new standard in an industry often seen as unstable. Join us in becoming part of this positive change in the world of work! For more information about Rewardable and how we support the gig economy, visit our website.

🚀 𝗧𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗪𝗼𝗿𝗸: 𝗘𝗺𝗯𝗿𝗮𝗰𝗶𝗻𝗴 𝘁𝗵𝗲 𝗚𝗶𝗴 𝗘𝗰𝗼𝗻𝗼𝗺𝘆 Have you ever wondered how the gig economy is reshaping our careers and lives? 🔹 Flexibility: Unparalleled options for choosing when, where, and how to work. 🔹 Income Opportunities: High-paying gigs are supporting financial independence for millions. 🔹 Skill Enhancement: Continuous learning keeps professionals competitive in a fast-changing world. 🔹 Tech Integration: Advanced platforms are the backbone of this digital transformation. 🔹 Policy Evolution: Balancing flexibility with social protections is critical for worker support. 🔹 Future Outlook: The gig economy is poised to reshape traditional employment structures. 💡 Did you know? By 2027, freelancers are expected to make up 50% of the U.S. workforce (Upwork). 🔹 Challenges: Income stability and worker rights remain areas for improvement. Collaborative efforts between policymakers and platforms can bridge these gaps. 📊 WEF Report: According to the World Economic Forum, the gig economy is a vital income source for many and requires balanced policies for fair working conditions. Read the full report here published in November 2024. https://lnkd.in/gH_XfCQx 🌟 The gig economy is not just a trend; it's a revolution. What’s your perspective? Share your thoughts below! #FutureOfWork #GigEconomy #FreelanceLife #DigitalTransformation #RemoteWork #CareerGrowth #WorkLifeBalance #IncomeFlexibility #SkillsGrowth #TechDriven #PolicyInnovation

The GIG ECONOMY:prospects and challenges for workers The gig economy is the short term work done by the people for temporary organisations . Gig is a slang word for a job that lasts a specified period of time. Traditionally, the term was used by musicians to define a performance engagement security, benefits, working conditions, its impact on traditional employment sectors, and the regulatory landscape challenges traditional employment norms and prompts a reevaluation of labor laws, social security systems, and the very definition of employment. salary shortfalls, lack of insurance coverage, income fluctuations, and a lack of job security Can be the main risk for the employees The gig economy offers greater flexibility in terms of working hours and, in some cases, location People also ask What are the gig economy challenges for workers? Therefore, the platform workers' ratio between gig and non-gig economy workers is 20:1, and these people do not have any liable protection towards them (Ganguly, 2024). Therefore, this leads to problems like salary shortfalls, lack of insurance coverage, income fluctuations, and a lack of job security.29 May 2024 https://www.cdpp.co.in › articles › t... The Gig Economy: Challenges MORE RESULTS How does the gig economy impact workers? Employing people in this way can also mean not having to pay benefits, such as vacation or sick pay. There are also benefits for employees. The gig economy offers greater flexibility in terms of working hours and, in some cases, location. Work done over the internet can be executed from anywhere in the world. https://lnkd.in/gzwZPNNr › terms Gig Economy: Definition, Factors Behind It, and Criticism - Investopedia MORE RESULTS What are the future prospects of gig economy? The gig economy is growing rapidly and is expected to continue to do so in 2024. More than 50% of the US workforce is likely to participate in the gig economy by 2027. Technological advancements, such as AI and blockchain, are making it easier for gig workers to find jobs and for employers to find qualified workers. People also ask What are the challenges of gig economy in India? Therefore, the platform workers' ratio between gig and non-gig economy workers is 20:1, and these people do not have any liable protection towards them (Ganguly, 2024). Therefore, this leads to problems like salary shortfalls, lack of insurance coverage, income fluctuations, and a lack of job security.29 May 2024 https://www.cdpp.co.in › articles › t... The Gig Economy: Challenges MORE RESULTS What are the main issues with gig economy? A primary concern within the gig economy is the inherent job insecurity and the absence of traditional employment benefits. Gig workers, classified as independent contractors, often lack access to health insurance, retirement plans, paid leave, and unemployment benefits #PESBootstrap2024

"The handmill gives you society with the feudal lord; the steam-mill, society with the industrial capitalist." - Karl Marx This quote highlights how technological advancements reshape societal structures. Today's gig economy, powered by digital platforms, is another such transformation. It challenges traditional notions of employment, offering both flexibility and precarity. Let's discuss: 1. How does the gig economy alter power dynamics between workers and platforms? 2. What are the implications for social safety nets and worker protections? 3. Does the gig economy signal a new era of economic freedom, or does it mask a return to feudal-like conditions? The term "feudal-like conditions" is used metaphorically in this context to highlight certain similarities between the two systems. In feudalism, serfs were tied to the land and worked for the lord in exchange for protection and a small portion of the land's produce. Similarly, gig workers are often tied to digital platforms, relying on them for work opportunities. They may experience limited control over their working conditions, income instability, and a lack of traditional worker protections like minimum wage, overtime pay, and benefits.  However, it's important to note that the gig economy is not a direct replica of feudalism. There are key differences, such as the ability of gig workers to switch platforms and the lack of physical coercion. Nevertheless, this comparison serves to emphasize the potential for exploitation and power imbalances within the gig economy, with the sole intention to prompt discussions about necessary regulations and protections for workers in this new economic landscape. Further reading: Wood, A. J., Graham, M., Lehdonvirta, V., & Hjorth, I. (2019). Good Gig, Bad Gig: Autonomy and Algorithmic Control in the Global Gig Economy. Work, Employment and Society, 33(1), 56-75. https://lnkd.in/d5CHBrrc #gigeconomy #futureofwork #economicsovereignty #socialjustice

✍️An Article On #GIG #ECONOMY By Advocate Rajeev Kumar Pandey✍️✍️ #Historical #Evolution #Of #Gig #Economy:- The Gig Economy has its roots in the early 20th century, with the rise of freelance workers in various industries. However, the modern concept of the Gig Economy gained traction in the late 2000s, with the emergence of online platforms such as Uber (2009), TaskRabbit (2008), and Airbnb (2008). These platforms enabled individuals to monetize their skills, assets, and free time, creating a new paradigm of work. #Theories #Of #Gig #Economy:- 1. #Sharing Economy: The Gig Economy is often associated with the Sharing Economy, which emphasizes the sharing of resources, goods, and services. 2. #Precariat:The Gig Economy has also been linked to the concept of the Precariat, a class of workers characterized by precarious, flexible, and often low-wage work arrangements. 3. #Neoliberalism: The Gig Economy reflects neoliberal ideals, prioritizing individual freedom, entrepreneurship, and market forces over collective bargaining and social welfare. #Principles #Of #Gig #Economy 1. #Flexibility: Gig workers choose when, where, and how much they work. 2. #Autonomy: Gig workers are their own bosses, with control over their work and clients. 3. #Variety: Gig workers can engage in diverse tasks and projects, reducing monotony. 4. #Opportunity: Gig platforms provide access to new markets, clients, and income streams. #Data #Related #To #Gig #Economy:- 1. #Growth: The Gig Economy is projected to reach $455 billion by 2025 (Mastercard). 2. #Participation: 57 million Americans freelanced in 2020 (Upwork). 3. #Demographics: Gig workers are diverse, with 53% women, 44% under 35, and 31% from ethnic minorities (Edelman). #Advantages: 1. #Flexibility: Gig workers enjoy flexible schedules and work arrangements. 2. #Innovation: Gig platforms foster innovation, entrepreneurship, and creativity. 3. #Access: Gig platforms provide access to new markets, clients, and income streams. 4. #Diversity: Gig workers can engage in diverse tasks and projects. #Disadvantages: 1. #Instability: Gig workers face uncertain income, benefits, and job security. 2. #Exploitation: Gig workers may be exploited by platforms, clients, or algorithms. 3. #Lack of Benefits: Gig workers often lack access to benefits, training, and social protections. 4. #Inequality: Gig platforms can exacerbate income inequality and social disparities. #Impact: 1. #Labor #Market: The Gig Economy is transforming the labor market, with more workers engaging in non-traditional work arrangements. 2. #Social #Safety #Net: The Gig Economy challenges traditional social safety nets, requiring new forms of protection and support. 3.#Regulation: The Gig Economy raises regulatory questions, with debates around worker classification, taxation, and benefits. 4. #Future #of #Work:The Gig Economy is shaping the future of work, with implications for education, training, and skill development. #Trending #finance

Gig Economy - In 2024, the so-called gig economy had a market size of $556.7 billion. By 2032, that's expected to more than triple to $1,847 billion But what is it? And why is it growing?

The Gig Economy: Reshaping Modern Work "Gig economy" describes a labour market where jobs are typically temporary. The jobs are flexible, and freelancing in nature. Its acceptance has grown because of the attitude of employees who prefer flexibility and versatility. The gig economy has become a defining feature of our modern workforce. This new model is changing how we think about work. Earnings can be unpredictable. This can make budgeting hard. Young professionals need to be prepared for this. They can now find jobs from anywhere in the world. They can now build diverse portfolios. They're no longer limited to one full-time job. The gig economy platform connects skilled workers with businesses needing their services. The Benefits include: ·       Flexibility in work hours and location ·       Opportunity to pursue multiple passions ·       Potential for higher wages in some cases ·       Chance to gain diverse work experiences ·       Ability to be your boss However, there is another facet of the gig economy as it has certain challenges. Challenges include: ·       Job insecurity and inconsistent income ·       Lack of traditional benefits like health insurance ·       Need for self-discipline and time management ·       Difficulty in long-term career planning ·       Potential for overwork and burnout In short, the gig economy is impacting employment generation. It's creating new jobs and changing existing ones. Workers may have more bargaining power in some areas. However, they also face new challenges in managing their careers. The gig economy requires new strategies for success. Workers must learn to manage taxes and benefits on their own. They need to constantly update their skills to stay competitive. Networking becomes even more crucial in finding new opportunities. There's a visible shift from the conventional 9-to-5 work model. Gig work is becoming a substantial part of the workforce. Many prefer it for its flexibility and autonomy. But it also raises concerns about worker protections. The sustainability of gig work depends on addressing these challenges. We need new policies to protect gig workers' rights. Companies must find ways to offer more stability to gig workers. Workers need to develop strong financial management skills. Education systems should prepare students for this new work reality. The gig economy offers exciting opportunities for innovation and growth. But we must ensure it benefits both workers and businesses. Balancing flexibility with security will be key. The future of work is evolving, and we must evolve with it.

Did you know there are around 𝟲𝟰 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗴𝗶𝗴 𝘄𝗼𝗿𝗸𝗲𝗿𝘀 in the U.S., contributing nearly $𝟭.𝟯 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻 𝘁𝗼 𝗼𝘂𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝘆 in 2023? 🎉 From rideshare drivers to freelancers, these individuals are reshaping the way we think about work and income. However, traditional banking hasn’t quite caught up with the needs of these modern-day entrepreneurs. With the gig economy expected to grow by 19% annually from 2024 to 2031, it’s time for banks to step in and provide the support gig workers truly need. 𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝘀𝗼𝗺𝗲 𝗸𝗲𝘆 𝗮𝗿𝗲𝗮𝘀 𝘄𝗵𝗲𝗿𝗲 𝗯𝗮𝗻𝗸𝘀 𝗰𝗮𝗻 𝗺𝗮𝗸𝗲 𝗮 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲: ⏰ 𝗥𝗲𝗮𝗹-𝗧𝗶𝗺𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀: Gig workers need faster access to their earnings, rather than waiting for traditional payroll cycles. 📖 𝗧𝗮𝗶𝗹𝗼𝗿𝗲𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻: Providing tools and resources to help manage taxes and budgets effectively can empower gig workers. 🏦 𝗥𝗲𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗖𝗿𝗲𝗱𝗶𝘁 𝗢𝗽𝘁𝗶𝗼𝗻𝘀: Banks should consider new ways to evaluate gig workers’ creditworthiness, reflecting their unique income patterns. We're all about empowering gig workers with innovative solutions that fit their unique needs. Let's start the conversation about how financial services can better support this incredible workforce! Check out this article for deeper insights:  🔗: https://lnkd.in/gg-YjUjE What do you think can be done to better support gig workers? Share your thoughts below!