White-collar gig employment has seen an increase in demand recently. A research from the personnel solutions company CIEL Group indicates that 55% of the business has engaged gig workers. Notably, the percentage of gig workers has in certain cases increased to as much as 20% of their overall workforce, indicating a sizable number of gig employees inside these firms.
“We are witnessing a paradigm shift in the world of work, with gig employment becoming increasingly popular among employers due to its advantages including cost-effectiveness, scalability, and access to specialised skills,” Aditya Narayan Mishra, MD & CEO at CIEL HR said.
Individuals are choosing to explore gig work over the traditional 9 to 5 job. The CIEL reported that 38% of gig workers select such employment owing to their ‘flexibility’ in working on various projects. The poll included more than 400 organisations across industries in India and 1200+ white collar gig employees.
“The allure of diverse assignments allows gig workers to continuously expand their skill set, gain valuable experience across various industries, and pursue their passion for diverse work opportunities,” the CIEL report said.
Another major driver for 24% of gig workers is the chance to be their own boss. Males (41%) and girls (40%) both expressed a great desire to work on various initiatives. 50% of the questioned gig workers say they would want to work full-time.
According to a Niti Aayog paper titled “India’s Booming Gig and Platform Economy,” the number of gig workers in India is predicted to rise from 7.7 million to 23.5 million by the years 2029–30, an almost 200% increase.
The unpredictability of their job is the biggest obstacle faced by gig workers, according to 32% of respondents.
This underlines the instability and unpredictability that gig workers frequently encounter, such as hazy project prospects or variable work schedules. The report also showed that gig workers frequently lack social and financial stability.
The majority of gig workers lack access to basic benefits like health insurance, retirement plans, and paid time off.
Another major issue highlighted was unstable income, with gig workers experiencing erratic and variable incomes that impair financial soundness.
Additionally, it was found that there were little prospects for employment growth inside gig platforms, creating a barrier to both career advancement and professional development.
50% of gig workers indicated in the poll that they would want to pursue full-time employment.
Additionally, 34% of gig workers said they wanted a full-time job in addition to their gig side hustle, maybe to diversify their income sources and reduce the risks associated with relying entirely on gig labour. 16% of gig workers say they intend to continue working in the gig economy, which is a lower number.
According to Mishra, “It’s essential for businesses to strike a balance between leveraging the benefits of gig employment and recognising the growing importance of providing stability and growth opportunities for the workforce“.
