Pros and Cons of the Gig Economy

Gig Economy, Pros and Cons of the Gig EconomyThe gig economy is the economy in which freelancers work for themselves, taking jobs in a gig fashion, one after the next. The gig economy is already large, thanks to freelance platforms such as AirBnB, Uber, and Upwork. However, it is still growing. In fact, it is estimated that by 2020, 43 % of the workforce in America will participate in the gig economy in some capacity. With so many people participating in the gig economy, it is good to know the pros and cons of this work environment.

Here are some of the top pros and cons of the gig economy.




Working in the gig economy as a freelancer allows people to work on their own schedules, and without a boss breathing down their neck. Instead, they have the freedom to work when they want, where they want, and how they want. This can be very appealing for many people, especially those with authority issues, or who are not morning people.

Diversity of income

People who work for traditional employers typically only get income from one source – the company they work for. However, people who work in the gig economy can get income from many different clients and customers. This diversity can provide a different type of job security.

The ability to work from home

Not all gig economy jobs will enable you to do this. For example, driving for Uber or Lyft will not enable you to work from home. However, many gig economy jobs do allow you to work from home. This can be a major benefit for people who do not like stressful commutes, who want to spend more time with their families, or who do not like wearing uniforms.


No benefits

Many traditional employers offer benefits such as health insurance, disability insurance, life insurance, etc. If you work for yourself, you can most likely kiss those benefits goodbye. However, there are new solutions being created in terms of benefits for freelancers. The freelancer’s union is one such organization that is trying to provide benefits for freelancers.

Uncertainty of specific income

Although it is possible to make a lot of money in the gig economy in some cases, it can still be hard to predict exactly how much you will make each week or month. This can create stress for people.

Lack of paid vacation/sick leave

Many people value paid vacation tremendously. However, if you are a freelancer, you will most likely never experience paid vacation or sick leave time. This can be a major negative aspect for many freelancers. But, if you work for yourself, you may have less need for a vacation because you will not be dealing with having a boss order you around, a stressful commute, or having to adhere to a dress code. Also, you can purchase private disability insurance.


There are both pros and cons to the gig economy. This economy provides many benefits, but it is not 100 percent perfect. There are some serious drawbacks to the gig economy, and those who wish to transition to it full-time need to consider these drawbacks.

Karin Jakovljevic

About the author

Karin Jakovljevic

Karin Jakovljevic is the head of marketing at Ximble, a powerful, cloud-based workforce management system, simplifying employee scheduling and time tracking for retailers, restaurants and small businesses.

Success Stories


It was hard to keep Menchie’s young and mostly part-time staff informed about shift changes, until Menchie’s discovered Ximble’s easy-to-use smartphone app.

Fast Fix

Ximble’s easy-to-use scheduling tool allows Fast Fix employees to remotely access shift information, and integrates with their Point of Sale and Payroll systems.

Spry Health

When spreadsheets became too complicated, Spry Health sought simple, cost-effective timekeeping software so they could concentrate on growing their business.

Spirited Gifts

Since switching to Ximble, Spirited Gift no longer struggle with employees turning up at the wrong time, for the wrong shifts.

Re-bath of South Florida

Re-bath required timekeeping software that was simple, flexible, and that could grow with their business.


When they outgrew their own internal system, Vastrm chose Ximble to track their part-time and contracted employees, both in and out of the office.

Excellence Martial Arts

All that Excellence Martial Arts were looking for was basic employee timetracking, with payroll reporting. Ximble’s cost-effective software was the ideal solution.

Collab Inc

Manual timesheets were a poor fit for Collab, and with no easy to feed the data into Gusto they began looking for a viable solution to their scheduling and time tracking headaches.

Carolina Moves

Follow Carolina Moves’ journey as they transitioned from using an archaic time tracking and data entry methods to using something that could optimize their processes and integrate with Gusto.

Bearings Bike Shop

Read how inaccurate time keeping methods forced Bearing Bike Shop to approximate working hours leading to significant losses over the year, until implementing Ximble.

Mermaid Life Chameleon

Needing a simplistic solution to their scheduling and time tracking needs, Mermaid Life didn’t want a solution that would over deliver and overcharge for what they required.

Krein Knives

Outgrowing spreadsheets, Krein Knives now needed a time tracking solution that could accurately track irregular working hours and automate as much of the administrative process as possible.


Looking for automation and simplicity, Garmentory turned towards Ximble in hopes of resolving their time tracking woes.


With their eyes set on rapid growth, Novvia needed to implement a scheduling solution that could effectively scale as the business grew while integrating with the existing payroll system.


Discover how Story2 resolved their time tracking and payroll problems by implementing Ximble into their arsenal of tools and integrating it with their payroll platform, Gusto.

CareCentric Pty Ltd

Spreadsheets lacked the scalability and flexibility that CareCentric Pty Ltd needed as they grew and needed something that would be responsive to their changing needs.

Bou Cou Dancewear

Struggling with varying availability of staff, scheduling for multiple store fronts and managing payroll, Bou Cou Danceware needed a solution to their scheduling and time tracking needs.

Best Pets Veterinary Hospital

Constantly fighting wasted time from data entry errors, outdated methods of scheduling and time tracking were taking their toll. Discover how Ximble helps them overcome their challenges.

Hook SEO

Read how Ximble helped Hook SEO with their time tracking and scheduling problem when they noticed too much time was being wasted on data entry.

National Strategic

After a rapid increase of employees, National Strategic’s dependence on spreadsheets for time tracking was no longer viable. Find out how Ximble solved their problems.

miR Diagnostics

Find out how miR Diagnostics implemented Ximble’s time tracking features for their employees and how it improved their payroll operations through the Gusto integration.

Followell Fotography

Effective time tracking in and out of the office and Gusto integration was important for this photography company. Find out how Ximble stepped up to meet the challenge.


Ximble provided an inexpensive and user friendly solution to CARP’s time tracking and Gusto integration needs. Find what won them over and how it bettered their operations.


Discover how the time tracking and extensive feature of Ximble helped improve ILKB’s operations with the Gusto integrations and ximbleChat platform without breaking the bank.


A tech savvy company that integrates technology into your offices and homes. With their skill and knowledge, they turn your ideas into reality.

Wise Owl Animal Hospital

An animal hospital that combines traditional and modern medicine to provide superior animal care. They raise awareness and provide advice on excellent pet care.

Armstrong Property Management

A property management consulting that specializes in home real-estate. They offer an abundance of services to property owners.


A restaurant consulting company that helps you take your business to the next level. With the best advisors, they can help you expand your business.

Liquid Consulting

A consulting company that strives to become your food processing partner. Comprised of skilled technicians and employees to improve your business.


Learn how TouchSupport was able to manage employees at multiple locations with ease and save 8 hours a week by using Ximble.

Alta Animal Hospital

Find out how Alta Animal Hospital do away with printed shift calendars and move to a 100% mobile platform.


Read how Ximble helps Montefiore eliminate the need for multiple spreadsheets and calendars.

Rudy’s Pub & Grill

By utilizing Ximble, Rudy’s Pub & Grill has seen a 60% decrease in missed shift from schedule confusion.

Try Ximble for 14 days free

No credit card required. Cancel any time.