Latest news with #gigEconomy
Independent Singapore
3 days ago
- Business
- Independent Singapore
'You get to decide if you stay down or try again' — Laid off SG woman once earning S$10K/month, finds fresh start in the gig economy
SINGAPORE: After a near-death experience from a ruptured appendix in 2015 and being laid off from her corporate job of 10 years shortly after, 43-year-old Yang Baoli Florence struggled to find a job for six months. Previously, earning a monthly salary of S$10,000 even made her job search more difficult. Despite actively applying for roles across the public, government, and private sectors and her willingness to take a pay cut, she only received blunt responses that they couldn't match her previous salary and implied she wouldn't stay long. She told The Independent Singapore that HRs would tell her to 'look elsewhere' instead of 'wasting their time'. 'It was a deeply challenging period, not just professionally but personally,' Ms Yang said, sharing how she had to juggle mortgage payments and bills while feeling lost and discouraged. With few options left, she decided to get a taxi licence and is now working as a TADA driver. Ms Yang said the biggest blessing she got from entering the gig economy was the flexibility to look after her elderly parents. While she's not earning as much as her previous job, she said she makes enough to support her family, enjoys working at her pace, and doesn't need to work long hours. She also shared that simple conversations she had with her passengers allowed her to sometimes share her story and encourage them as well. Many Singaporeans have been turning to the gig economy to fill long periods of unemployment, some taking on delivery gigs or giving tuition . While many tapped into upskilling through their SkillsFuture credits, many still reported difficulty landing a job . In May, Jobstreet reported that 42% of Singapore employers are planning to expand their permanent headcount in the first half of 2025 . However, a recent report from Indeed stated that job postings fell for the fourth straight month in April —though levels remain above pre-pandemic figures. Ms Yang advised those facing similar struggles: 'Never stop learning and never be afraid to start again.' She said, 'Take a new licence, take a new course. Sometimes, it's in the trying and even failing to discover your true strengths and passions.' To her, success is defined not by title or salary, but by how far one has come. 'No matter how high you once were, life can knock you down but you get to decide if you will continue to stay down or to get back up and try again,' she added. /TISG Read also: 53-year-old retrenched Singaporean dad launches indoor air quality company after his toddler kept falling sick
Daily Mail
4 days ago
- Business
- Daily Mail
The misery of being a delivery driver in Britain: Two-thirds of riders suffer ANXIETY over unfair bad reviews, study finds
If you use apps such as Deliveroo and Uber, you might want to think twice about giving the delivery driver a bad review. A new study by scientists at the University of Cambridge lays bear the misery of being a food delivery worker or ride-hailing driver in Britain. More than two-thirds of riders and drivers in UK's 'gig economy' suffer anxiety over long hours and bad ratings, the experts report. Meanwhile, three-quarters have anxiety over fears that their pay – typically below the UK minimum wage – is going to fall. Lead study author Dr Alex Wood from Cambridge's Department of Sociology said riders and drivers 'have little in the way of rights or bargaining power'. 'Delivery and ride-hailing platforms combine manual work with tight algorithmic management and digital surveillance,' he said. 'Platform companies call themselves tech firms, but in practice they govern, control and profit from labour they claim not to own, without bearing employer responsibility. 'If your job is at the mercy of a quick click on a stranger's phone, it is likely to fuel a constant hum of uncertainty and anxiety, along with feelings of being judged, monitored and replaceable.' In a survey workers, 65 per cent of riders and drivers reported feeling either fairly or very anxious over unexpected changes to working hours. Not all workers answered all the questions, hence there is some variation in the numbers of respondents The study focused on job quality in the UK's 'gig economy' – the labour market characterised by short-term contracts or freelance work, rather than permanent jobs. Gig economy workers operate as self-employed contractors who sign up for work on digital platforms such as Uber, Deliveroo, Amazon Flex and Upwork. These digital platforms typically match the workers with customers and pay a base rate per job, with higher rates at peak times or 'surges'. 'All manner of gig work has exploded in recent years, from delivering food to building websites,' said Dr Wood. 'Many of us now summon people and labour at the tap of a smartphone screen without much thought, rarely considering the process or the people behind it.' Between March and June 2022, Dr Wood and colleagues surveyed 510 gig economy workers in the UK about different feelings towards their role. Of the total, 257 were defined as 'local' platform workers – those tied to locations such as delivery riders for the likes of Deliveroo, Uber and Amazon Flex. The remaining 253 were 'remote' platform workers – whose labour is digital and so can remote work from anywhere, on platforms like Upwork and Fiverr. In all, 65 per cent of local workers reported feeling either 'fairly anxious' or 'very anxious' about future unexpected changes to working hours, compared with 40 per cent for remote workers. An even greater proportion of local workers – 74 per cent – were at all anxious about having less say over how their job is done, compared with 40 per cent for remote workers. Also, more local workers reported anxiety over the potential for pay to fall (75 per cent compared to 59 per cent of remote workers). And 64 per cent were anxious about it becoming more difficult for them to use their skills going forward – due to the fear of automation, for example – compared with 46 per cent for remote. Another part of the research uncovered 'very high' levels of insecurity among respondents in terms of feeling there was a chance of losing their ability to make a living and becoming unemployed as well as other types of work-related insecurity. For example, 68 per cent of local platform workers said they feared receiving 'unfair feedback that impacts their future income'. Just over half of local workers (51 per cent) said they risked physical health or safety, nearly five times higher than remote workers (11 per cent). And 43 per cent said they suffer physical pain resulting from work, compared with about 13 per cent for remote workers. When asked 'how often does your job involve working to tight deadlines?', 22 per cent of local workers responded 'all the time', compared with 4 per cent for remote workers Local workers also reported spending an average of 10 hours a week waiting for jobs to come through on the app, compared with four hours for remote workers. But regardless of how long they're doing this for, the gig economy experience means they logged on and technically working but not making any money, according to the researchers. However, they admit that gig economy workers have flexibility and a level of independence that permanent workers don't get. The study, published in the journal Work, Employment and Society, is the first to provide statistical data on job quality in the UK's 'gig economy'. 'Attempts to investigate working conditions in the UK gig economy have been hampered by the difficulty of identifying and accessing people doing the work,' said co-author Professor Brendan Burchell, sociologist at the University of Cambridge. 'Classifying someone as self-employed doesn't change the fact they can be economically dependent and exploited.' MailOnline has contacted Deliveroo and Uber for comment. In separate yet-to-be-published research, Cambridge University PhD candidate Jon White is conducting interviews with delivery drivers in Cambridge city centre. According to the findings, drivers are constantly pushing to earn enough to make end's meet to the detriment of their health Some working on multiple apps at the same time. One driver spoke of the need for a solid minimum pay rate: '…when it's busy on a rainy day, at that time they pay a really good fare. But sometimes when it's not busy, so that time fare is not enough for us because we go two miles, three miles and get a really low fare. So I think if they pay minimum every day, it will be really helpful for us.' Another driver described the pain in their body: '…especially in my thighs, all the time, ever since I started, I've never had a good sleep. Every day, I get home, just have to take a shower quickly after my body gets cold… and eat something then go to sleep because I can't do this work for a long time.' They say the long hours are down to low pay: 'Because I have to do my... a minimum every day so, I can at least pay my bills, right? Just to survive. I still have to pay rent, food, so... If I don't do this amount, this minimum in a day, I can't go home.'
South China Morning Post
6 days ago
- Business
- South China Morning Post
Keeta rider with no ID or work visa risks arrest to eke out living in Hong Kong
Azfar* struggles to make ends meet by working illegally as a rider for food delivery platform Keeta in Hong Kong, putting him at risk of arrest as he lacks an ID card and work visa. Advertisement For the past eight months, the 27-year-old Pakistani has used the Keeta rider account belonging to his cousin, a Hong Kong resident whom he pays HK$3,000 (US$382) a month under a 'rent' deal they struck. 'My cousin has been living in Hong Kong for a long time and he suggested that I use his food delivery [platform] account,' he said. 'After he scans his face to login for a shift, I take his phone to work.' Azfar is a non-refoulement claimant who holds a recognisance form, commonly known as a 'going-out pass', allowing him to temporarily stay in Hong Kong but not to work. After paying his cousin, he is left with about HK$17,000 a month, which he uses to cover the HK$6,000 rent for a tiny subdivided flat in Sham Shui Po and his daily expenses. Advertisement He is one of a significant number of illegal workers who operate as riders for food delivery platforms, which have become a pillar of the gig economy. Other than Keeta, Foodpanda is the other major local player after Deliveroo folded in April.
Entrepreneur
21-05-2025
- Business
- Entrepreneur
How the Gig Economy Is Failing Businesses
The gig economy is fueling innovation, but it's also causing chaos. Here's how smart companies are fighting back. Opinions expressed by Entrepreneur contributors are their own. The gig economy was supposed to be the great equalizer. It promised freedom for workers and flexibility for companies. And for a time, it delivered. A surge in freelance platforms allowed startups and enterprises to tap into a global talent pool, scaling fast, saving money and moving with unprecedented agility. But beneath that glossy surface lies a growing problem: When it comes to mission-critical work, especially in tech, the gig economy is starting to break. Projects are stalling, developers are ghosting, and teams are struggling to maintain momentum. For many founders and CTOs, the very model they once leaned on has become a source of operational risk. So, what's the alternative? Increasingly, companies are turning to staff augmentation, not just for talent, but for accountability. And when the partner takes responsibility for outcomes, not just resumes, the results speak for themselves. Related: Why Startups Shouldn't Rely Solely on Gig Marketplaces for Developers The double-edged sword of the gig economy Let's be clear: The gig economy isn't going anywhere. Nearly 60 million Americans performed freelance work in 2023, with similar trends across Latin America and Europe. Platforms like Upwork, Fiverr and Toptal have made it easy to find talent in hours. That kind of access is revolutionary. But it comes with downsides: Lack of commitment: Freelancers juggle multiple clients, and loyalty is thin. If a better-paying gig shows up mid-project, they may disappear without warning. Poor integration: Gig workers often operate in isolation, disconnected from internal teams, tools and culture. Inconsistent quality: Vetting can be superficial, and many clients spend more time managing than building. Zero accountability: When things go wrong, you're on your own. There's no partner to step in and fix the issue. These risks can be catastrophic for companies trying to build real products, meet investor deadlines or drive innovation at scale. Staff augmentation: Flexibility with backbone That's where IT staff augmentation comes in. Unlike gig platforms, staff augmentation isn't about short-term help — it's about embedding vetted engineers into your team as if they were full-time employees. You get flexibility, yes, but also structure, accountability and performance. At their best, augmentation firms go beyond staffing. They take on delivery risk, help manage outcomes and build long-term partnerships, not one-off transactions. This model is compelling when sourced through nearshore staff augmentation. With teams based in Latin America, companies gain real-time collaboration (thanks to overlapping time zones), cultural affinity and deep technical skill — all without the high costs or timezone misalignment of offshore outsourcing. Related: What is Staff Augmentation? 3 Reasons It is Vital For Your Business Real-world breakdown: Freelance chaos vs. augmented stability Consider this: A U.S.-based fintech startup needed to build a payment gateway. They hired two freelance developers from a significant platform. Week one, everything seemed fine. By week three, one had ghosted. The other delivered buggy code with no documentation. The project slipped two months and cost them a major client pilot. Contrast that with another firm that works with a nearshore software development partner. They onboarded a full-stack team in under 10 days, working within U.S. business hours. The partner assigned a delivery manager to ensure milestones were met, blockers were resolved and code quality was maintained. They launched their MVP on time and raised their next round. The difference? One leaned on freelancers, while the other relied on a managed talent model with accountability built in. Offshore isn't dead — but it's getting riskier Some companies still opt for offshore staff augmentation, usually to cut costs. And while offshore teams can be effective with the proper management infrastructure, they come with well-known tradeoffs: time zone friction, communication challenges and geopolitical instability. As global volatility increases and the demand for speed intensifies, many leaders choose to de-risk by shifting closer to home. Nearshoring — especially in Latin America — is growing because it offers the best of both worlds: cost efficiency and real-time collaboration. Key benefits of the right augmentation partner To be clear, not all staff augmentation firms are created equal. The real value emerges when your partner commits to the following: End-to-end recruitment : Pre-vetted candidates, not just resumes. Cultural fit : Engineers who align with your team's work style and values. Fast ramp-up : Onboarding in days, not months. Delivery oversight : Managers who track outcomes, not just hours worked. Seamless scaling: The ability to add or reduce resources as needed. Top-tier providers of software development services now act more like extensions of your internal tech team — offering not only capacity, but continuity, quality and innovation. Related: Why Entrepreneurs Are Looking Towards Latin America for Nearshoring Opportunities We're living in a post-gig world. That doesn't mean freelancers are obsolete. However, for core product development, enterprise systems and scalable tech innovation, the future lies in blended, agile teams that deliver like in-house talent but scale like the cloud. Staff augmentation — especially when it's outcome-focused and nearshore-enabled — represents the next evolution. If you've been burned by disappearing freelancers, ghosted projects or rising costs from inefficiencies, it may be time to rethink your talent strategy. The right partner won't just help you find engineers. They'll help you deliver results.
Yahoo
19-05-2025
- Business
- Yahoo
Gig Economy Q1 Earnings: Angi (NASDAQ:ANGI) Simply the Best
Looking back on gig economy stocks' Q1 earnings, we examine this quarter's best and worst performers, including Angi (NASDAQ:ANGI) and its peers. The iPhone changed the world, ushering in the era of the 'always-on' internet and 'on-demand' services - anything someone could want is just a few taps away. Likewise, the gig economy sprang up in a similar fashion, with a proliferation of tech-enabled freelance labor marketplaces, which work hand and hand with many on demand services. Individuals can now work on demand too. What began with tech-enabled platforms that aggregated riders and drivers has expanded over the past decade to include food delivery, groceries, and now even a plumber or graphic designer are all just a few taps away. The 6 gig economy stocks we track reported a mixed Q1. As a group, revenues were in line with analysts' consensus estimates while next quarter's revenue guidance was 0.6% below. Luckily, gig economy stocks have performed well with share prices up 19.7% on average since the latest earnings results. Created by IAC's mergers of Angie's List and HomeAdvisor, ANGI (NASDAQ: ANGI) operates the largest online marketplace for home services in the US. Angi reported revenues of $245.9 million, down 19.5% year on year. This print exceeded analysts' expectations by 2.7%. Overall, it was a strong quarter for the company with an impressive beat of analysts' EBITDA estimates and a decent beat of analysts' number of service requests estimates. Angi achieved the biggest analyst estimates beat but had the slowest revenue growth of the whole group. The company reported 3.36 million service requests, down 18.5% year on year. Unsurprisingly, the stock is up 45.6% since reporting and currently trades at $16.38. Is now the time to buy Angi? Access our full analysis of the earnings results here, it's free. Formed through the 2013 merger of Elance and oDesk, Upwork (NASDAQ:UPWK) is an online platform where businesses and independent professionals connect to get work done. Upwork reported revenues of $192.7 million, flat year on year, outperforming analysts' expectations by 2.2%. The business performed better than its peers, but it was unfortunately a mixed quarter with a solid beat of analysts' EBITDA estimates but a decline in its customers. The market seems happy with the results as the stock is up 27.1% since reporting. It currently trades at $16.92. Is now the time to buy Upwork? Access our full analysis of the earnings results here, it's free. Founded by Stanford students with the intent to build 'the local, on-demand FedEx", DoorDash (NYSE:DASH) operates an on-demand food delivery platform. DoorDash reported revenues of $3.03 billion, up 20.7% year on year, falling short of analysts' expectations by 2.1%. It was a slower quarter as it posted EBITDA guidance for next quarter missing analysts' expectations and number of orders in line with analysts' estimates. DoorDash delivered the fastest revenue growth but had the weakest performance against analyst estimates in the group. The company reported 732 million service requests, up 18.1% year on year. As expected, the stock is down 3.1% since the results and currently trades at $199. Read our full analysis of DoorDash's results here. Based in Tel Aviv, Fiverr (NYSE:FVRR) operates a fixed price global freelance marketplace for digital services. Fiverr reported revenues of $107.2 million, up 14.6% year on year. This print surpassed analysts' expectations by 1%. More broadly, it was a slower quarter as it recorded a decline in its buyers and a slight miss of analysts' number of active buyers estimates. Fiverr scored the highest full-year guidance raise among its peers. The company reported 3.54 million active buyers, down 11.6% year on year. The stock is up 17.6% since reporting and currently trades at $31.47. Read our full, actionable report on Fiverr here, it's free. Notoriously funded with $7.7 billion from the Softbank Vision Fund, Uber (NYSE:UBER) operates a platform of on-demand services such as ride-hailing, food delivery, and freight. Uber reported revenues of $11.53 billion, up 13.8% year on year. This result came in 0.5% below analysts' expectations. All in all, it was a mixed quarter for the company. The company reported 170 million users, up 14.1% year on year. The stock is up 4.7% since reporting and currently trades at $89.90. Read our full, actionable report on Uber here, it's free. In response to the Fed's rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed's 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump's presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.
