THE IMPACT OF GIG ECONOMY ON THE ACCOUNTING JOB MARKET

The world is changing quite rapidly, thanks to the innovative technologies that are being developed and rolled out. Interestingly, the economy has been impacted by these technologies, among which the job market has been affected by leaps and bounds. The rise of the gig economy is what made the most impact when it comes to the job market. Surprisingly, not only the common job market but also high ticket ones such as accounting and tax job market has also been affected. 

What is the Gig Economy?

Gig economy, in simple explanation, is a type of economy, where flexible, temporary jobs are quite commonly preferred by both the workers and companies. The workers are classified as several categories such as freelancers, contractors, and similar others. Freelancing agencies and websites are what helped the rise of the gig economy. 


What does this mean to the accounting job market?

A few years ago, accounting was something in the corporate level job market, which has quite drastically changed after the introduction of the gig economy. Back in the days, accounting jobs are mostly linked to the high profile accounting and tax firms. But now, with tons of opportunities through the gig economy, more and more employees are tending towards working as a freelancer or contractor. 

Benefits of working in a gig economy are very luring. Flexibility is being one of the most common- do your job at a time you please and from a place that you please. 

Furthermore, the pay is very good since the companies which hire you can cut down their costs of hiring a full-time employee, they can simply afford to pay a decent check to the gig workers. 

This phenomenon is expected to grow even more due to the fact that more and more workers and business firms are showing immense interest. 


Here is a list of important things that you should know about the Gig economy and its impact on Accounting Job market:

● Startups are hiring more of their accounting department through gig economy contractors. Since it’s more expensive to pay a full-time worker, Startups tend to hire a freelancer thus minimizing the costs.

● Everything related to accounting has become online. You don’t really have to write books since an excel worksheet can simply do the work for you. Through cloud storage, it has become very easy to share accounting information to the team members and clients. So, accountants can now work from home, because they don’t have to be physically present at the workplace and write the accounting information.

● We should perhaps speak about the immense impact of social media as well. The awareness about the gig economy has been widely spread through various social media platforms, encouraging businesses and freelancers to go the gig economy way.

● As a freelancer working in the accounting gig economy, you can have a lot of free time to learn new things, which enables you to progress in your accounting career.

● Last but definitely not the least, the accounting gig economy can help people create their own destinies and achieve higher goals. No more working for a company and making them rich. Through accounting gig economy, you can simply work for yourself and success even more.