The gig economy describes an environment where organizations hire contract or temporary professionals for a brief length of time or some specific tasks. These gig or contractual specialists may consist of subject matter experts, freelancers, contractual workers, advisors but not restricted to only these. The gig workforce works on a workhour basis, i.e., by timesheet monitoring and other by lump-sum project basis in which the whole project needs to be completed in a particular amount by a fixed deadline, which is monitored by the Project Management Team.
Gig workers are different from permanent employees in many aspects. Gig workers are not on formal employment payroll of the organization. At any time, they might be working for more than an organization simultaneously. This kind of professionals or workforce mostly includes people who are looking for agility, flexibility, and a non-traditional work environment.
Is gig real?
Research conducted by Intuit suggests that by 2020 over 40% of Americans would be working freely on a gig workforce structure. The same research position India as second in the worldwide Gig workforce structure by 2020 after the United States. As indicated by the National Skill Development Corporation, around 70 million are relied upon to enter the nation’s work power by 2023, including 59 million youth under 30 years. People under age 30 are the frontrunners in the gig workforce as they love to work on their terms, focusing more on the project, rather than the organization. India, for sure, is on its way to a gig economy, making us “Atmanirbhar Bharat.”
Benefits to the Organization:
Benefits to the professionals:
Hurdles in implementing Gig Workforce:
When it comes to measuring performance, organizations still depend on old models and metrics, and with a gig coming into the picture, it becomes more challenging to measure part-time and remote workers by these obsolete systems. The fact that a gig employee works simultaneously with many organizations and different cultures makes it more difficult for both employer and employee to manage and measure performance.
How will you manage your gig workforce?
How will you measure the gig workforce’s efficiency and effectiveness?
You need a flawless process where you can monitor the work hours by timesheet, minimize the cost incurred, risk management, cycle time, and analytics.
Stratemis HR Tech has crafted an astonishing Project Management Module to turbocharge the end-to-end efficiency of your GIG Workforce. This scientifically designed and handcrafted module comes with advanced features like Time-sheet monitoring, ticket creation, and email notification, and is entirely configurable as per your need. This all comes powered by a mobile responsive platform and CHATBOTs.
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