Virraj Jatania’s Post

What if I told you that by 2030, more than 1 billion people will be working online? According to a The World Bank publication (Working Without Borders: The Promise and Peril of Online Gig Work), already **12%** of the active workforce works online. That’s **435 million people**! Other studies suggest we'll hit **873 million** online workers by 2028. Assuming that number will climb at the same pace is not a wild assumption. But where is this growth happening the most? The Global South. Why? There is a huge arbitrage opportunity for platforms able to productize cheap and high-quality gig work. But what’s behind that? Online work can be incredibly attractive as it’s diverse and often pays in dollars. Knowledge is now a commodity. Everything you need to learn is online and free. If you’re thinking this wave is advantageous for the demand side of online gig platforms, you’re wrong. Online work can be incredibly beneficial for people and local economies throughout the world. That doesn’t mean that gig workers, or digital entrepreneurs as we call them, are getting the star treatment today. The infrastructure for this digital economy is broken. Most of these digital entrepreneurs have to deal with: - **7-day** waits to cash out - **10%**+ fees - Getting screwed by **hidden FX** rates That's why Airtm is important. We're creating the space for this new economy to thrive, powered by 10x better payment rails. - **6-minute cashouts** - **2.5% net rate** and no hidden fees - Compatible with **500+** local payment methods No more barriers. No more unfair fees. Just seamless access to global work. Seamless access to financial independence. Shout out to The World Bank for shedding light on the impact gig work can have on developing countries as well as on the challenges this economy and its participants face

A common misconception about the GIG economy is it's all Uber drivers when actually they account for 20% GIG workers in the UK, that's a decent chunk but there are way more desk based jobs classed as GIG economy and often a good foot in the door for recent grads. But what are the pros and cons? The gig economy offers significant benefits and drawbacks. Key advantages include flexibility and autonomy, allowing workers to set their schedules and control their workload. This can lead to better work-life balance and job satisfaction. Additionally, the gig economy provides diverse opportunities across various industries, with access to a global market that can enhance skills and potentially lead to higher earnings. Gig work also fosters an entrepreneurial spirit, encouraging the development of essential business skills and personal branding. However, there are notable drawbacks. Gig workers face a lack of job security, with no guaranteed work and fluctuating income, making financial planning challenging. They often miss out on traditional job benefits such as health insurance, retirement plans, and paid leave, which they must secure independently. Legal and regulatory challenges also arise, including worker misclassification and limited legal recourse in disputes. Furthermore, the flexibility of gig work can blur the lines between work and personal life, leading to irregular hours and potential burnout. For those considering gig economy jobs, it's crucial to balance these factors, plan financially, secure necessary benefits, stay informed about legal rights, and maintain a healthy work-life balance. The gig economy is likely to grow, necessitating better regulations and protections for workers. Read the full article here: https://lnkd.in/d7wtPJrt #gigjobs #londonjobs #gradjobs

The "Hidden Cost of Gig Worker Living" report by Rollee reveals that 7 in 10 UK gig workers are denied financial products despite good credit scores. 𝐓𝐡𝐢𝐬 𝐛𝐢𝐚𝐬 𝐬𝐭𝐞𝐦𝐬 𝐟𝐫𝐨𝐦 𝐨𝐮𝐭𝐝𝐚𝐭𝐞𝐝 𝐜𝐫𝐢𝐭𝐞𝐫𝐢𝐚 𝐟𝐚𝐯𝐨𝐫𝐢𝐧𝐠 𝐬𝐢𝐧𝐠𝐥𝐞-𝐬𝐨𝐮𝐫𝐜𝐞, 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐞𝐦𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭. To foster financial inclusion, banks and lender should leverage comprehensive income and employment data. 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝, 𝐫𝐞𝐚𝐥-𝐭𝐢𝐦𝐞 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐚𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞 𝐝𝐚𝐭𝐚 𝐩𝐨𝐢𝐧𝐭𝐬 can build fairer credit scoring models, reflecting the true solvency of gig workers. By embracing these solutions, financial institutions can better serve this growing workforce, ensuring equitable access and driving business growth. https://lnkd.in/efVJurRW #FinancialInclusion #GigEconomy #Fintech #DataDriven #Finextra

📱 The Risks of Canada’s Platform Economy Boom for Workers As Canada’s platform economy continues to grow, it brings with it significant risks for workers. In her latest article, Atieh Yekta explains how this transformed labor market threatens job security and disrupts traditional employment structures. Gig and platform-based jobs may offer flexibility, but they also leave workers more vulnerable, with fewer protections and less stability than conventional employment. It’s critical to understand these risks and explore ways to better support workers in this evolving economy. 🔗 Read the full article here: https://lnkd.in/g_AQwHwJ #PlatformEconomy #GigEconomy #JobSecurity #FutureOfWork #PolicySolutions #LaborMarket

Convenience suppresses worker rights in Gig economy The gig economy is here. Offers millions of small jobs. The options it opens are multifold. Apps are made for products & services. These options keep the economy bubbling. Like earlier disruptions, the gig economy has a dark side. It divides customers and workers, pitting one against the other. And how does that happen? Low prices keep customers happy but hurt workers. Customers rarely build relationships with workers. Customers feel burdened with tip compulsions. Most customers don't see workers' challenges. Transactions are instantaneous & impersonal. Apps handle payments & worker performance. From customers who aren't aware of the hurdles. A momentary inconvenience & the pinch of the tip, determines a worker's performance for lack of empathy. While workers battle low pay, disrespect, and job insecurity. How can we help? → Tip workers well → Rate them fairly → Support fair pay laws → Treat them with respect Gig workers are people, not robots. Treat them with the respect they deserve. It is more about your personality than anything else.

Imagine you’re craving your favorite food or need something delivered urgently. With just a few taps on your phone, a delivery partner shows up at your doorstep, bringing convenience to your life. But who are these people making our lives easier? They are the backbone of the gig economy, a rapidly growing sector offering flexible and fast-paced employment. According to a NITI Aayog report, 7.7 million people were part of the gig economy in 2020-21, and this number is expected to soar past 23.5 million by 2029-30. But what exactly is the gig economy, and how does it impact workers and society? What is the Gig Economy? The term gig refers to short-term or task-based work arrangements. In a gig economy, companies and workers are not bound by long-term contracts. Instead, platforms like Uber, Ola, Zomato, and Swiggy connect workers with consumers for short-term assignments. Benefits and Drawbacks of the Gig Economy The Perks: 1. Flexibility: Workers can decide when and where to work, making it ideal for students, homemakers, or anyone seeking supplemental income. 2. Multiple Opportunities: Individuals can work for multiple companies simultaneously, diversifying their income streams. 3. Quick Earnings: Unlike traditional jobs, gig work often pays weekly or even daily. The Downsides: 1. Lack of Security: No provident fund, health insurance, or paid leave is provided to most gig workers. 2. Unpredictable Income: Earnings depend on availability of work and demand, leading to financial instability. 3. Career Growth Limitations: Gig work often lacks pathways for skill development or promotions. 4. Exploitation Risks: Companies may misclassify gig workers as contractors to avoid offering benefits or adhering to labor laws. 5. Safety Concerns: Gig workers may face risks such as harassment or unsafe working conditions, and there are limited mechanisms to address these issues. The Road Ahead The gig economy is reshaping the future of work, offering flexibility and quick employment opportunities. However, for this sector to thrive sustainably, a balance must be struck between flexibility and worker protections. How can we strike the right balance between flexibility and security for gig workers in today’s fast-paced economy? #GigEconomy #FutureOfWork #WorkLifeBalance #WorkerRights #Flexibility #EmploymentTrends #EconomicGrowth #GigWorkers #WorkplaceInnovation #SocialImpact

Who wins in the gig economy? It's not as clear-cut as you might think!  In the gig economy's hustle, both labor and capital find their footing, but in different ways. Let’s break it down: Flexibility for Workers: Gig workers enjoy the freedom to choose when, where, and how much they work. This autonomy is a game-changer for many. Benefits for Businesses: Companies capitalize on accessing a flexible, skilled workforce without the overheads of full-time employment. The Real Winner?: It's about balance. The gig economy can be a win-win when workers leverage their skills and businesses offer fair value and opportunities. Yet, challenges remain, from job security for workers to quality assurance for businesses. So, the debate continues.  What's your take?   Do you see the gig economy as a ladder to success or a tightrope walk? Share your thoughts below, and let’s navigate the future of work together.   Find top talent : www.gigleji.com #gigtalent #bizowners #gigleji

The gig economy has given rise to a new era of on-demand work, and is redefining how people earn and engage with employment. Explore the potential pros and cons of gig work and its impact on traditional work models in Entrepreneur, via Tamara McCleary. #FutureofWork #GigEconomy #jobs

The gig economy has given rise to a new era of on-demand work, and is redefining how people earn and engage with employment. Explore the potential pros and cons of gig work and its impact on traditional work models in Entrepreneur, via Tamara McCleary. #FutureofWork #GigEconomy #jobs

The gig economy has given rise to a new era of on-demand work, and is redefining how people earn and engage with employment. Explore the potential pros and cons of gig work and its impact on traditional work models in Entrepreneur, via Tamara McCleary. #FutureofWork #GigEconomy #jobs