Employer-employee bond is absent in gig economy

Employer-Employee bond is absent in gig economy
This shift could have real economic benefits by raising labour force participation, stimulating consumption, providing opportunities for the unemployed and boosting productivity. Necessities have always been mother of invention and the same is being seen with such a phenomenal growth of Gig Economy. Flexibilities are there with workers, and also business is having advantages as impact of cost in terms hiring a permanent employee and getting the same job done by Gig 'employee is much less with less of legal hassles.

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?

MK Gig work is not a new concept in India. With its large informal economy and ‘casual workers’ segment, India has always had the equivalent of gig work across urban and rural areas – from temporary farm workers to daily-wage construction labourers to household help. The difference now lies in the technology enablement, providing a win-win situation to both workers and businesses, by creating massive opportunities. During the lockdown, we saw a steady increase in the number of gig workers in India. People who had lost jobs were finding gig opportunities closer home. The gig economy has the potential to help people in the unorganized sector learn new skills and help them build a better quality of life for themselves and their families – (as per study done by Michael& Susan Dell...

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Manoj K Sinha

Founder at Manoj Sinha at HR EDGE

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