As per a recent research survey, approximately 30% of the workforce in the developed countries is now part of an active gig work culture. Talking about numbers close to home, this figure is about 2 million or about 8% of workers who work on a project basis. It is clear that the world is seeing a shift in the traditional job roles when it comes to the workforce. Employees benefit from the flexibility that comes with the gig economy and companies, on the other hand, are embracing a flexible workforce since it helps them achieve agility and cost effectiveness.
The gig work culture has gained popularity because as many as 33% of the workforce admit that achieving work-life balance is extremely difficult, and they would like more personal time while earning the same amount of money. The gig economy seems to have benefitted employees and employers alike. For instance, while it gives more flexibility to manage work and life for employees, it saves costs for companies in the form of training overheads and admin expenses. Workers can quote their price on the projects they want to accept as per the deadline they are comfortable with.
However, the gig economy has another side to it as well. Since companies are supposed to forgo their traditional way of working, their vision might become obscure. In other words, such organizations struggle in the long run to retain their corporate culture. Furthermore, their staff may also lack focus or team spirit when they know their colleagues are temporary. Since such companies rely on gig workers, they struggle to hire and retain in-house talent as they are always on the lookout for temporary workers for their ad hoc projects. Additionally, the manager in charge of a project has to work on their coordination levels every time with the gig workers – which vary from worker to worker.
The gig economy consists of contractors, freelancers, independent consultants, etc. who work with various companies on short-term contracts or on a project by project basis. Many startups and companies in India have also started realising the changing dynamism of the workforce. They have largely started accepting the work transformation that is happening where employees want more flexibility to perform a task or want to disconnect from an office. Furthermore, more and more companies also realise that for some employees, it is difficult to commit to 8-9 hours of work daily excluding travel time. With the easy availability of the internet everywhere and changing work culture, even companies have started hiring gig workers. For such companies, office attendance is not as important as a project well done.
While the gig work culture has reached a fairly matured state in the developed countries, it is still in its nascent stage in developing countries like India where employers are still getting used to the new mobile workforce. If you are looking for a flexible workforce, the get in touch with a placement agency that can get you connected with the right one.