Are you familiar with the term The Gig Economy? At its core, it’s based on large numbers of people working temporary, part-time, or contract positions.
In my mind, as a longtime musician, “gigs” were paying jobs we got to supplement other income. I secured my first musical “gig” in the eighth grade and have been a professional musician ever since.
Earlier this summer, I visited Austin, Texas, for the Direct Selling Association Annual Meeting. I spent a lot of time with other CEOs and leaders in our direct selling space. We talked — many times for hours — about company challenges we’re facing.
Most of our peers are facing some of the very same issues that we face at USANA.
The Gig Economy
One topic that kept coming up over and over is the “gig economy.” I share some thoughts about this notion in the video below:
View the video on YouTube
“The gig economy is very broad, and encompasses workers who are full-time independent contractors (consultants, for example) to people who moonlight by driving for Uber or Lyft several hours a week.” — John Frazer, Forbes
The independent-contractor workforce includes about 150 million people in North America and Western Europe, according to the Harvard Business Review. But what about people who want to earn extra income part-time, temporarily, or on the side? That’s a market space that seems to be growing, especially in the United States.
At USANA, we’ve excelled for 27 years in asking people to fire their boss and make USANA a career. Many have done that, and USANA continues to be a great opportunity for a full-time career.
But what if you simply want to earn a little extra money on the side of your existing career? It’s a trend, and we at USANA are looking at ways to help make it easier for individuals who are interested in that approach.
Strategically, it’s something we at USANA have to take seriously.
We’re starting to look at promotions, incentives, and various compensation plan enhancements that help to provide more immediate gratification.
So, that’s something that’s on my mind. I wanted to let you in on it so you could think about it, too. Please feel free to share your thoughts on the “gig economy” when you interact with us at USANA.
We’re constantly evolving at USANA. I’m excited for where we’re headed as a company and this is another opportunity for us to grow.