Get Gigged

This era has been characterized by change. From telegram to pager to phones to smart phones each and every change has had a disruptive effect on the globe. Are you ready for yet another change? In a few years no one is going to ask a person whether he has a job. The queries would hereafter be about his gig. Strange right?

A gig is an activity or a service provided by a person on a contractual basis. A traditional employer- employee system,  has been prevalent for many years. Though it has provided a lot of benefits to both the employer and the employee, it is now being shunned at by the new age entrepreneurs. Having full time employees is coupled with too much burden in the form of high costs. Employees some times receive a lot more than what they rightfully deserve. Many organizations have employees whose work can either be automated or substituted by a gig worker. Also, several laws, in the process of protecting employees' interests add up too much costs for the employers eg. PF contribution. The gig economy, if not a perfect alternative can be quite viable . The gig workers are hired by people only when their services are needed. Payments made to gig workers are mostly fair. Gig workers also are forced to provide high quality services as their future engagements with any organisation are dependent on the ratings they receive on their performance. Thus the gig economy  places an implicit check on the quality of a service provided. The gig styled workforce isn't new to the world. Over the years all of us must have encountered gig workers at some point. However the transition from a predominantly employer- employee system to a gig economy is a big shift. The transition is now in full swing. In 2018, almost 36% of USA's workforce constituted gig workers. That's not a small number!

Gig economy offers several changes to the traditional work culture. While traditional employees, especially those in India have a sense of job security which hampers their efficiency, the gig economy forces them to be on the run. Only the fittest survive here. It doesn't end there! Since, the gig economy offers a level playing field for all freelancers one must resort to provision of services at a relatively low fare when compared to his competitors, the failure of which would lead to loss of potential clients.

However, on a positive note, a gig economy could be a huge opportunity for efficient growth oriented workers. Sky is the limit here. A gig worker has the luxury of not being stuck up in an organisation, following a set of rigid guidelines and thereby capping his growth. Most employees in a traditional work setup are restricted from working elsewhere while a gig worker can choose when, where and for whom to work for. (Going forward apps like 'Linked in' would see a massive surge in terms of usage as it is easy to establish valuable connections via this platform. )

Among the various disruptions created by Covid-19 is the expedition of the transition towards a gig economy. With revenues down, cash flows taking a serious hit and the entire financial position of businesses at stake, employers are looking to cut costs by extending reliance towards automation and gig workers. For instance, major conglomerate Tata which generally looks to safeguard it's employees' interests has come out with a statement that the post Covid operations of the company would be automated to a large extent causing layoffs of existing workers.

Everyone desires a comfortable job with constant monthly paychecks hitting their bank accounts. This comfort zone though extremely appealing can put us in a fix if some unforeseen event happens. The advent of the gig culture is not uncertain. It is a slow process that is sure to cripple every industry's workers. We can either insulate ourselves by upgrading our skills or fret over losing cosy and attractive jobs.