If there is anything that emphasised the importance of the gig economy, it is the Covid-19 outbreak. Disruptions in employment, closure of business and the overall impact left many livelihoods in limbo. To date, economies around the world are still struggling to get back on their feet and many people still find themselves out of work. According to the Labour Force Survey conducted by the National Institute of Statistics of Rwanda (NISR) and results published in March this year, unemployment increased from 16.0 percent to 20.3 percent in the last quarter of 2020. The figure could be higher if you factor in the informal economy. With job creation largely dependent on the recovery of the economies if the pandemic subsides, people with the skills and know-how can take advantage of the gig economy. Today even people with permanent employment still do side gigs to make some extra income. “It is impossible to do one job today. I have a full-time job, a consultancy and a small business, all of which sustain me but at the end of day it is still not enough because I have a lot of responsibilities to take care of,” says Stephen Kalisa, an accountant by profession. By the day, he attends to his job and in the evening, he takes on individual consultancies which include auditing private firms and businesses, while at the same time he follows up on a small grocery he runs in the neighbourhood. Though he is employed, Kalisa is part of the gig economy. The gig economy generally refers to workers who rely on freelance contracts and one-off jobs, as opposed to a fixed salary position with one company, but this is no longer the case. If you have a skill to sell, you can get a few side things to do as long as they don’t distract you from your obligations as an employee. Most times your employer doesn’t have to know, unless it requires traveling. With the majority of people having to work from home, it became easy for many employees to find side work to do especially if it is work that can be done on the computer. It is one of the upsides of the Covid-19 outbreak, which also presented some opportunities in one way or another. Advantages As any other work, there are pros and cons of the gig economy and one has to really pay attention to successfully take on side gigs. One of the advantages is that there are no limitations. You can do anything you want, as long as you have the skills needed to deliver a task. If you are lucky, a side gig will be more lucrative than your full-time job, that is if you know where to look. A side gig will most probably open an opportunity for another one. Once you deliver on your current gig, chances are you will be recommended to the next client or for the next gig. This can keep you busy and improve your income. Most gigs come with flexibility and you don’t have to show up in an office. You can work from wherever you are and deliver remotely. The other advantage is that most short-term gigs don’t come with a lot of bureaucracies and technical procedures. Most importantly, your gig provider might not require full commitment to them as long as you deliver within the agreed timeframe. This means that you have more liberty to do things in your own time. The other aspect is that you can work incognito and deliver on assignments without anybody getting to know, including your current employer, as long as you pick a gig that requires you to work behind the scenes. Disadvantages Taking on gigs can actually be stressful if you already have a full-time job because it requires you to put in an extra effort. Even for those without full-time jobs, taking on many gigs can really result in burnout and stress as you try to deliver on expectations. If not well managed, you might end up not delivering on anything or putting your life in peril. It is important to try and balance work, gigs and life before you get lost in it all. With the gig economy, there is no safety net. If you are doing gigs alone, most times you have to forget about things like healthcare benefits and fixed contracts, which in a way makes you feel unsafe. Out of the many gigs, it is important to find one secured contract which offers you the benefits aforementioned. Also be careful with things to do with taxes because as you do the many gigs, the tax body could be taking note of your income and at some point, will require you to declare. Make sure that in the gigs you do, the taxes are factored in or that the person offering the gig has committed to cover tax obligations.
