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What are the benefits and challenges of the gig economy? 

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The gig economy offers several benefits, including promoting business growth and economic inclusion, better resource management for organizations, and increased work flexibility and revenue generation for workers . However, there are also several challenges associated with the gig economy. These challenges include the lack of job security and benefits, such as health insurance and paid time off, which can lead to financial instability for workers and their families . Other challenges include the lack of clear policy, occupational vulnerability, precarity, and platform-based work, which can pose risks for gig workers . Additionally, the gig economy raises concerns about job security, humane working conditions, and entitlement to employment benefits, especially highlighted during the COVID-19 pandemic . Overall, while the gig economy has the potential to contribute to sustainable development, it needs to address these challenges to ensure its sustainability and inclusivity .

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The paper discusses the benefits of the gig economy, such as lowering entry barriers to market participation, facilitating job creation, increased work flexibility, and revenue generation. However, it also highlights challenges related to job security, working conditions, and entitlement to employment benefits.
Open accessJournal ArticleDOI
Ivona Huđek, Karin Širec 
01 Jan 2023-Ekonomski pregled
The paper mentions that the gig economy brings various benefits for all parties involved but also brings many challenges. However, it does not provide specific details about these benefits and challenges.
The benefits of the gig economy mentioned in the paper include promoting business growth, economic inclusion, and better resource management for organizations. The challenges highlighted include the lack of clear policy, occupational vulnerability, precarity, platform-based work, and the risks associated with gig work.
The paper discusses the challenges of the gig economy, such as unstable income, lack of job security, and absence of benefits or protections for workers. However, it does not mention any specific benefits of the gig economy.

Related Questions

What are the key challenges and opportunities for the gig economy?4 answersThe gig economy presents both challenges and opportunities. On one hand, gig work can provide income for workers who have been excluded from traditional workplaces, but on the other hand, gig platforms present new disability-related challenges for workers. The social dialogue and collective organization in the gig economy vary significantly along national contexts, impacting the implementation of structured social dialogue to improve social protection and achieve decent work. The social networks of gig economy workers show a scaling relationship with city population, and degree and betweenness centrality are positively correlated with income. The management of gig workers in modern organizations faces challenges related to external talent management and the opposition between transactional and relational approaches. The gig economy offers opportunities for independent work, but also raises concerns about low pay, lack of pension, and job security.
What are the factors affecting the gig economy?4 answersFactors affecting the gig economy include the flexibility and freedom it offers, lack of welfare protection, unstable income for employees, globalization, digitalization, technological change, financial pressures, emerging competition, the impact of the COVID-19 pandemic, the evolving needs of the workforce, the struggle for talent, and the globalization of the workforce. Additionally, economic factors such as unemployment, economic growth, and inflation also play a significant role in the gig economy, influencing the number of online platform users.
What are the challenges and opportunities for the gig economy education industry in India?5 answersThe challenges and opportunities for the gig economy education industry in India are significant. The shift towards remote-based learning due to the global pandemic has highlighted the need for digital tools and platforms to reach students effectively. However, the implementation of entrepreneurship education in vocational schools has been limited, with a gap between the prescribed curriculum and its actual implementation. The Indian education system, with its large network of schools and higher education institutes, has the potential to adopt mobile education (M-education) to overcome roadblocks and increase penetration in the education sector. Transforming traditional classroom teaching to entrepreneurial and industry-institutional interactive models is crucial for preparing Indian HR with entrepreneurial skills. B-schools in India need to lay special emphasis on entrepreneurship education in their curriculum, with differentiated courses and teaching methods, to meet the demands of budding entrepreneurs. These findings suggest that there is a need for innovation and collaboration to address the challenges and leverage the opportunities in the gig economy education industry in India.
What are the challenges and benefits of working remotely?5 answersWorking remotely has both challenges and benefits. The benefits include increased flexibility and employee satisfaction, reduced office rental costs, and increased access to global talent. Remote work also allows for flexible work schedules and improved employee wellness, which can increase productivity. However, there are challenges associated with remote work. These include problems of communication, monitoring, and motivation of employees, as well as the loss of connection with corporate culture and values. Isolation and distraction are also potential challenges that can affect productivity. Despite these challenges, studies have shown that remote working can increase job performance and job satisfaction. Employers should take responsibility for the health and safety of remote workers, while employees should follow guidelines and procedures enforced by their employers. Further research is needed to explore other factors that may impact remote working.
How does the gig economy impact the labor market?5 answersThe gig economy has a significant impact on the labor market. It has transformed traditional labor markets by creating opportunities for contract labor and flexible work arrangements. The gig economy has reshaped gig work into the mainstream, creating millions of jobs in various sectors. It has also led to the emergence of online platforms that facilitate short-term and flexible work arrangements. However, the gig economy presents unique challenges for gig workers, including issues related to health and well-being. The gig economy has also created challenges for companies in traditional industries and businesses, leading to the need for new labor law standards and tests. Additionally, the gig economy has brought about atypical forms of labor agreements and new models of outsourcing, challenging established employment and social protection rights. Overall, the gig economy is reshaping the labor market and necessitates the development of new frameworks and regulations to address its impact.
What are the main challenges facing the gig economy in Bangladesh?3 answersThe main challenges facing the gig economy in Bangladesh include the potential decline in exports and remittances due to the projected slowdown in growth in advanced economies. Additionally, the lack of adequate control measures and weak policy directives contribute to the unregulated smokeless tobacco industry, which poses challenges to tobacco control efforts. However, despite these challenges, Bangladesh's macroeconomy has shown resilience in the face of the global financial crisis, indicating potential for growth and development in international business opportunities. Furthermore, Bangladesh's membership in regional forums such as ARF and SAARC presents opportunities for economic integration and expansion of trade. In terms of energy provision, corruption has no effect on foreign direct investment in Bangladesh, but the country still faces challenges and risks in meeting its future energy needs.

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