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The Gig Economy – Not Your Parents’ Workforce

Posted by: on 20 April 2018 in Events, Human Capital Management, Innovation

gig economy

In a recent article for People Matters, Abhijit Bhaduri shares his view that it’s time for labour laws in India (and globally) to evolve to encompass and recognise the rise in the gig economy. While the gig economy has long existed for those who provided casual manual labour, these days many people from a wide array of industries are also turning to freelance work, whether it is to provide extra income for their families or to enjoy the freedom and flexibility not currently offered by many companies. Bhaduri is a gig worker – he freely admits to enjoying the freedom and flexibility to pursue projects that interest him and work with different types of organisations as a consultant. And he’s not alone.  Bhaduri’s desire for freedom and flexibility is part of a growing trend not just in Asia, but around the world. 

gig economy

In 2015, ADP Research Institute’s Report, Evolution of Work 1.0, identified the ability to define one’s own work schedule, location and the ability to work from a mobile device as one of the most important and growing trends in the Asia Pacific workforce. 

With the recent acquisition of WorkMarket, ADP is staking its claim that the gig economy is here to stay and that gig workers will make up more and more of a company’s workforce. But how should large organisations manage these gig workers, whether consultants, freelancers or contractors? How do you find someone else if your go-to is unavailable, or you need someone on-site in the other end of your country? 

WorkMarket, although only operating in the US, is a game-changing platform that could allow companies to get a complete view of their workforce, not just those currently holding permanent positions.  With the gig economy here to stay and disrupt the current workforce, how will it change your organisation? 

ADP India is participating in the SHRM HR Tech Conference 2018, where the gig economy will be a popular topic of discussion. ADP India is also hosting the Future of Work session as well as the SHRM Tech X 2.0 session, both on 27 April 2018. For more information, please visit the event website.

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TAGS: Abhijit Bhaduri Digital Employment Event Gig Gig Economy Globalisation HCM HR Human Capital Management People Matters SHRM Talent Retention Trend Workplace Trends

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