The concept of Gig economy is changing the way ‘work’ is seen. Even students who are into professional education are involving themselves into these Gig Economy platforms to earn easy money.
But this Gig economy is not a new concept. In the earlier days in India, people were self-employed. The concept of “Government Job” and later ‘Software Professionals’ changed the perception of the society and self-employment lost its lustre and became less fancy. Everyone wanted to be working under a corporate house. Be it TATAs to Infosys, one’s pride was associated with the place where he / she is working.
The employment in Gig Economy is of two types (De Stefano, 2015).
The ‘work on demand’ concept is about the work that can be channeled through App using a smartphone. These corporate owned Apps enroll workers who like to participate in the platforms on part time basis based on their convenience. Based on the need of the customer and nature of work, these apps will assign the tasks to the work people who are enrolled. The earnings from the service is shared between the platform owner and the employee for every specific task.
In contrast, the Crowd work deals with jobs that are performed through interconnected computers through internet connecting numerous workforce and companies. The tasks performed in these types of jobs are small tasks that cannot be automated but still require some human judgement.
The Gig Economy offers both advantages and disadvantages to a nation’s economy.
This pattern of job and work are well received by new generation entrepreneurs as it offers the convenience to start the business. The cost of operation in this business model is very low as there is no additional burden related to the employee’s benefit to the company.
The scalability of the business is also high as the app or the crowd work can be extended across locations, geography and even nations.
The workers (Not to be read as Employees) who are associated with the platforms in Gig Economy are having the freedom of selecting their own time and convenience of performing the task.