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Gig Workforce and the Impact its Creating
Gig Workforce and the Impact its Creating

February 14, 2023

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Hello again! Taking forward my discussion on the gig workforce in the technology sector, from my last blog “Gig Workforce and its Management in the Tech Sector”, where we talked about the gig employment in the sector their hiring, and remuneration. In this blog, I would like to focus the discussion on the mismatch in the benefits that the gig workforce wants and what they are offered, how work location is losing sheen as a factor for organizations, and the broad impact that gig work models are creating.

Additional Benefits – The disconnect remains between organizations and gig workers.

Continuing with our findings from the study NASSCOM conducted in partnership with Aon, on the benefits side 48% of organizations are not offering any additional benefits to gig workers. On the other hand, gig workers expect some additional benefits that are offered to full-time employees to be added to their contracts as well. Survey results across both employers and gig workers highlight the disconnect, with Gig workers expecting recognition for their skills with a ‘performance bonus’ followed by ‘paid time off’ topping the list of benefits they expect (See charts below for more details).

Source: NASSCOM’s Future of Workforce: Decoding the Gig Workforce 2.0

The location has lost its sheen as a key deciding factor for hiring gig

Pandemic-induced digitization has dissolved location boundaries with most organizations do not place any locational boundaries when it comes to hiring gig workers. Moreover, pandemic-led digitization and enhancement of technology infrastructures have given rise to increase in the hybrid form of working and have enabled gig workers to work from anywhere. This trend has pushed hiring from tier 2 cities.

Source: NASSCOM’s Future of Workforce: Decoding the Gig Workforce 2.0

Gig Workforce creating business and societal impact.

Gig workers are creating a promising impact by bringing in niche skills, greater efficiency, and quicker hiring. They are also enabling organizations to attract and hire a more diverse talent pool.

Source: NASSCOM’s Future of Workforce: Decoding the Gig Workforce 2.0

Moreover, more than 50% of the organizations highlighted that they have a policy to absorb gig workers as a full-time employee. Also, the majority of organizations remain open to referring and rehiring the gig workforce basis on past performance.

 

Source: NASSCOM’s Future of Workforce: Decoding the Gig Workforce 2.0

Also, on the inclusivity side gig offers a return-to-work opportunity for women who are looking for flexibility and are looking for a return after a career break.

Source: NASSCOM’s Future of Workforce: Decoding the Gig Workforce 2.0

Also, 71% of Organizations are hiring or are open to hiring retired professionals for their gig assignments as focus on diversity and inclusivity becomes a norm.

Source: NASSCOM’s Future of Workforce: Decoding the Gig Workforce 2.0

This is all for now, stay tuned for my next blog where we discuss – the future of gig, challenges, best practices and recommendations for key stakeholders.

Happy Reading!

For more insights read our report “FUTURE OF WORKFORCE: DECODING THE GIG WORKFORCE 2.0

 


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Neha Jain
Senior Analyst

Neha Jain

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