POWER TALK

People have already started to upskill and focus on taking
up gigs while in lockdown. Additionally, accepting that this
is the "Next Normal."
Although COVID-19 has fuelled gig work, there are other
reasons why individuals are opting for gig work.
❑ Flexibility is one of the biggest enablers of gig work.
Individuals find it more productive to travel less and
work from home at their convenience today. COVID-
19 has formalized "Remote Working.“
❑ Work-life balance: One of the growing concerns in
recent times has led to increased gig work is the lack
of work-life balance. Especially for mothers who are
unable to balance work and family. Even mothers
returning from maternity leave find it easier to work a
gig than a full-time job.
Hybrid workforce models also mean organizations can derive
benefits from finding high-performing talent, cost-savings,
reducing infrastructure cost, and higher productivity.
Hybrid workforce models are more inclusive and create a new
collaborative culture between full-timers, gig workers, freelancers,
virtual/remote workers, and independent consultants.
However, organizations should have a strong strategy and
vision to be more open culturally to gig workers than merely
resorting to this model as a knee-jerk reaction to the current
COVID-19 crisis.
Be it for a highly skilled professional or a mother who wants to
return to the workforce. Be it an independent freelancer who
wishes to pick up a new gig or be it differently-abled people who
want to kick start their careers, Gig Economy is open for all.
Gig Workers – The growing tribe of freelancers:
Contracting/Subcontracting or Gig Working isn't new. However,
the recent popularity of Gig workers is due to the rise of the
'Platform Economy,' one that allows a triangular relationship
between three parties; The platform, the Gig Worker, and The
Client.
The platform, designed to deliver a best in class experience, works
to connect people with demand (the customer) to people that
provide supply (the worker). Artificial Intelligence (AI) and
Machine Learning (ML) powered platforms strive to make the
entire process completely digitized, compliant to all the laws of
the land, and provide the users a seamless experience.
COVID-19 - the biggest disruptor in recent times, has also enabled
or, in some cases, even pushed people to 'Reimagine their careers.'
Switching to a more fluid way of working and fall back on multiple
gigs/work options than relying on one job seems to be the new
mantra.
❑ Well-Being: Focus on Mental & Physical Well-being
has become a top priority for many people during
COVID-19. One of the studies suggested that almost
77% of the global workforce is experiencing stress
that affects their physical health, and 48% of people
have trouble sleeping because of stress. Due to the
flexible nature of the job, people can focus more on
their physical wellbeing.
❑ Work experience and higher exposure: Gig work
allows people access to best-in-class experience and
exposure. Platform-based projects enable people to
work on projects from clients across the world. Global
Projects enrich one's knowledge and help people
develop skills like Trans-disciplinary thinking, crosscultural
empathy, and better EQ. More gigs only mean
a growing portfolio of experience. It will further
diversify skill sets.
❑ Better Rates: The level-playing-field on platformbased
economy allows people with niche-skills and
better credibility or star ratings to demand a higher
pay rate per hour vs. a traditional professional.
Summary
Gig economy is transforming the way we work. For
businesses, digital imperative is pushing for new and more
flexible ways to create and meet demand.
For the workforce, the gig economy is creating a new set
of expectations and attitudes to work.
However, both businesses and people have to shift their
mindsets to adapt to the "Next Normal" where Gig
Economy would continue to grow to create more
opportunities for people with increased flexibility, choice,
and more significant opportunity for tomorrow's
workforce.
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