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Authors:
Published by:
Amity Research Centers (2019)
Length:
17 pages
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Abstract

Gig economy had developed with greater momentum providing a wide range of opportunities through multiple digital platforms. This was also associated with the changing generational mindset away from full time employment to entrepreneurship. The multiple facets of gig economy comprised free communication channels, online consumer services, globalised networks, outsourcing, contracting and freelancing. On the other hand, companies offered temporary employment with flexibility, extra earnings and better work-life balance. People joining the gig economy were attracted by the prospects of earning extra money, developing new skills, peer networking, learning new technology and pursuing individual preference. Meanwhile, companies benefitted by saving on provident fund, paid leave and office space while availing niche skills and in-depth expertise of gig workers. Gig economy occupied major percentage of the American workforce covering millions of giggers, who worked as independent contractors and freelancers. Artificial Intelligence, automation and robotics were the foundation stones of the gig economy regulating the global workforce. The advent of information technology did away with the barriers of distance, time and costs in this new dispensation. Giggers were particularly drawn to work segments such as technical, marketing/creative, administrative and customer services. Establishing equitable standard of rights, conditions and wages for each worker of gig economy was a major challenge. Would gig economy be able to build new job dynamics by doing away with the traditional stereotypes?

Topics

Gig economy; Giggers; Multiple digital platforms; Changing generational mindset; Full time employment to entrepreneurship; Free communication channels; Online consumer services; Globalised networks; Outsourcing; Contracting; Freelancing

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