What reasons do you see behind the phenomenal increase of gig economy in India? Is it a temporary boom or will last long? Is it going to replace traditionally hired workforce?
LS Gig workers engage as short-term, temporary, freelancing or independent contractors for either one or more of employers with varied payment terms unlike the traditional employment engagement with the chosen organisations/sectors/industries. An inclination towards flexible gig work is being driven by factors such as freedom, flexibility, technological advances, skill focus, cloud sourcing, additional income and human capital transformation.
Gig Economy allows task ownership, convenience and flexibility. Emergence of attractive start-up culture, rise in freelancing platforms, MNCs preferring contractual employment possibilities for cost optimisation, lowering the traditional administrative and statutory compliances costs associated with regular employment and recruitment...
