As the nation grapples with corporate layoffs and individuals seek alternative employment options, a recent study has revealed that 36 percent of the workforce now identifies as independent workers or “gig workers”. This shift in the workforce dynamic has been steadily increasing, with more than two million Americans choosing to venture out on their own in 2020, a number that doubled by the following year. However, the life of an independent worker comes with its own set of pros and cons compared to traditional nine-to-five jobs.
One individual who found success in the world of gig work is Priscilla Visintine, a public relations and marketing professional. What initially began as a way to escape the demanding nature of the hospitality industry soon turned into a lucrative career for Visintine. She started by taking on projects from friends who worked at large PR agencies, eventually building her own client base and forming partnerships to manage the workload. Despite the freedom of working for oneself, Visintine emphasizes that having multiple clients means having multiple bosses, requiring a high level of discipline and organization.
According to Washington University Professor John Barrios, discipline is crucial for gig workers, not just in terms of scheduling but also in managing tax implications. Sole proprietors must navigate tax responsibilities for Social Security and other financial considerations. For those involved in ride-hailing or delivery apps, additional factors such as fuel costs, maintenance, insurance, and tax reporting by platforms must be taken into account.
Before fully committing to gig work, Barrios advises individuals to establish clear boundaries to prevent work from consuming their entire day. Unlike traditional employment where the workday ends at a set time, gig workers may find themselves constantly checking platforms for opportunities, leading to burnout and a lack of downtime. Setting limits and prioritizing self-care is essential for maintaining a healthy work-life balance in the gig economy.
As Visintine transitions into a semi-retired phase, she emphasizes the importance of being selective with projects and focusing on meaningful work, such as collaborations with non-profit organizations. For those considering a leap into gig work, Visintine encourages taking on challenges with confidence and embracing new opportunities with determination.
In conclusion, the rise of gig work presents both opportunities and challenges for individuals seeking alternative employment paths. While the flexibility and autonomy can be appealing, gig workers must navigate complex financial considerations and establish boundaries to prevent burnout. By approaching gig work with a strategic mindset and a willingness to adapt, individuals can thrive in this evolving landscape of the modern workforce.
