Work is changing for so many professionals. Welcome to the hustle — whether it’s a a side gig to supplement full-time traditional employment or multiple gigs to keep things interesting and provide different experiences. 

We see this in many ways as a return to  a time when workers pieced together jobs on a day-to-day basis or ran small businesses. While today’s gig economy contrasts in a lot of ways to the post-war American work environment, it does share similarities and benefits with normal work practices from throughout history. 

Some benefits that have come up in discussions with gig workers include: 

- Flexibility — I can work when I want and where I want.

- Experience — I can try different roles at different companies to learn what I like and don't like about a job  before fully committing.

- Control — I can keep the hours that best align with the work times when I’m most productive. If the gig is not working, I can end it as soon as I complete the project.

- Income — While I give up benefits like healthcare and a 401K plan, I get more income per hour than I would in a full time role.

All of this leads us back to CONTROL.

The early waves of change in the gig economy were driven by the motivation of employers looking for lower cost labor. Today it’s shaped by individuals’ desire to exert control over their lives. It allows them to determine how they do business. 

The gig economy also provides a way to invest in your own education on-the-job, or pursue a less conventional career path without strings attached. So many people want to expose themselves to a variety of life experiences. Putting together gigs is the best way to manage the tradeoffs.

These changes in employment status do raise questions regarding the policy implications for government and employers. For example, how do we provide benefits to gig workers that need them?  Evolving healthcare policy will make a large impact on gig workers’ choices.

In our venture efforts, we continue to look into startups that can help those who gig get benefits similar to what a full-time employee might get. We have seen creative ideas for providing savings benefits and continuing education for these types of workers. We have even seen an accounting system to help workers track what they make in their various roles. We will continue to look for innovative ways to help this important group of Americans.

Mark Casady
General Partner Vestigo Ventures