The purpose of this research is to identify the challenges and opportunities that are emerging out of the "Gig Economy" and how it is reshaping the future workforce int he competitive landscape. The goal of this paper is to demonstrate, how throughout the world this model is gaining momentum and changing the perception of the employee in today's workforce. In addition, we will provide recommendations of best practices for integrating the gig economy as a solution to workforce issues and business growth. This model provides instant access to employment opportunities ("gigs") with flexibility for users of the virtual environment and companies do not have to offer employee benefits. These emerging entrepreneurial activities are disrupting traditional business models; affecting the traditional workforce. The gig economy can be precarious, but can also be lucrative and desirable.