Advances in Economics, Management and Political Sciences

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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Series Vol. 64 , 28 December 2023


Open Access | Article

The Future of Work: A Comprehensive Study of the Gig Economy Beyond Low Labor-Value Added Jobs

Haocheng Wu * 1
1 Mulgrave School

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 64, 112-120
Published 28 December 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Haocheng Wu. The Future of Work: A Comprehensive Study of the Gig Economy Beyond Low Labor-Value Added Jobs. AEMPS (2023) Vol. 64: 112-120. DOI: 10.54254/2754-1169/64/20231511.

Abstract

Traditionally, firms face many challenges with employment: Geographical discrepancies, inefficient talent sourcing methods, accessibility, and, more recently, COVID-19. As a result, the gig economy, or the freelance economy, has become increasingly popular as a method of employment after the pandemic. This type of business model is proliferating due to its easy accessibility, along with environmental factors, such as the pandemic and social factors, such as the trend of digitalization in developing countries. This new model also brings many benefits to gig workers, including an easier pathway to employment and globalization, consumers, bringing them a wide array of services on an accessible platform, and corporations, helping them source talent and solve resource allocation issues. Yet, many corporations and industries are still in the early stage of utilizing gig workers, or refuse to outsource gig talent, because of social perceptions, skill set mismatches, and technical inefficiencies. In this paper, empirical analysis of the platform's fundamental components, challenges with society, and outlook is presented along with a relevant case study and a recommendation for a potential future development of the gig economy.

Keywords

gig economy, business model, talent acquisition, digitalization

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
ISBN (Print)
978-1-83558-229-9
ISBN (Online)
978-1-83558-230-5
Published Date
28 December 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/64/20231511
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated