About gig economy, how gig economy is thriving, what gig economy makes hottest in India, upside and downside of gig economy, how it is reshaping the career

1. By:- ASHWANI GUPTA

2. INTRODUCTION
A Gig Economy indicates an environment in
which temporary positions are common and
organizations contract with independent
workers for short term engagements. It’s also
referred to as the “freelancer economy,” “agile
workforce,” “sharing economy,” or “independent
workforce.”

3. EMERGING SCENARIO
• In India 70 % Corporate have used gig workers at
least once for major organizational issues in
2018.
• 58 % of Americana employers predict their
workforce will contain more temporary and part
time workers in next 5 years.
• According to American staffing association, the
temporary industry added more jobs in us over
last few years.
• In UK 5 million people are employed in this type
of capacity.

4. THRIVING IN THE GIG
ECONOMYThere are four connections:-
• Place- Disconnected from corporate office, people find place to
work that protect them from outside distractions
• Routine- People can have their own routine and they can work
when they feel comfortable
• Purpose- A big distraction between successful
independents and one who aren’t is getting to that place of
knowing what you’re meant to do
• People- Reaching out to people of your inner circle helps to
calm your anxiety

5. HOW THE GIG ECONOMY IS
RESHAPING THE CAREERS FOR
THE NEXT GENERATION
• Flexibility- The young people want to work when they want
to and want to work how they want to
• Fast paced- The gig economy is fast paced and young people
are impatient
• Technology- Many technological projects are now executed
by external workers engaged on freelance basis
• Pointless Manual Task- The gig economy doesn’t allow
the time for pointless manual task

6. WHO CAN BENEFIT
FROM IT
• Consumer- The gig economy is democratizing the access
to many types of services, making them affordable and highly
efficient
• Employees- Workers see the platform as alternative to
generate income at convenient and flexible dynamics
• Entrepreneurs’- They serve the recruitment cost and the
cost of benefits. Additionally, taxes typically aren’t withheld
for gig economy workers.

7. WHAT MAKES GIG ECONOMY
HOTTEST IN INDIA
• The emergence of start-up culture- To optimize resources
efficiently, usually startups prefer hiring freelancer based on their
requirements
• MNCs are hiring contractual employees- Bigger players of the
market gradually employ young talent on a contractual basis for niche
projects
• The rise of freelancing platforms-Many platforms are acting as a
bridge between the brands and freelancers across the world
• Unconventional work approach by Millennials- Work
pressure and hectic schedule in private sector have further
resulted in changing the perception of millennials of late

8. FROM LAST 5 YEARS 81 % OF THE
FIRMS HAS JOINED THE GIG BAND
WAGON WHERE WORKERS COME ,
GIG AND LEAVE
43%
19%
18%
DELHI NCR
MUMBAI
BANGALORE

9. UPSIDE OF GIG ECONOMY
• Flexibility And Freedom
• Mobility
• Global Productivity
• Minorities Over presented

10. DOWNSIDE OF GIG ECONOMY
• Almighty Companies
• Who Is Responsible?
• Lack Of Transparency
• Incumbents Lack Of Competitiveness

11. REFERENCES
https://hbr.org/2018/03/thriving-in-the-gig-economy
https://www.forbes.com/sites/johnfrazer1/2019/02/15/h
ow-the-gig-economy-is-reshaping-careers-for-the-next-gen
eration/#5bc2bf1949ad
https://economictimes.indiatimes.com/news/company/c
orporate-trends/gig-economy-on-rise-70-firms-used-gig-
workers-in-2018/articleshow/68221921.cms?from=mdr