There’s a profound shift in the world of work, an era of lifetime employment to multiple employments to entrepreneurship is now giving way to the gig workforce. Most of the organizations today have a mix of full time, contingent, gig and even crowdsource talent with latter ones becoming increasingly prominent much sooner than expected.
I happened to meet a young professional who started his career in 2011 with a top tech company and was soon reeling with boredom and out of the race on a corporate ladder. Different projects were pulling him in different directions and daily routine was exhaustive enough for a rollover to another day. Away from home in a new city, the only smiling moments for him were a few likes and wow’s on social media.
While on a taxi trip in Delhi, he was inspired by Mahavir who was driving for both Uber and Ola on the same day depending upon which one was giving better value per hour. Mahavir was able to derive best returns for his skills and time without restricting him to any one provider. This experience inspired him to leave his regular job in 2016, just 3 years in the gig world, he is now serving 5 tech organizations including two competing ones extending handsome earnings. Having gained expertise in the rare skill and a strong social network helped him carve a niche for himself.
The skill has become the new currency and the value of critical skills is on the rise. A choice to work on what you love every day also comes with a flip side, critical skills are not permanent, demand to supply gap is being identified and getting filled faster than ever. A specific skill currency value may crash quicker than a stock market rally. The gig work also comes with an uncertainty of cash flows with a need for continuous investment into self and network development.
Current generation and organizations are embracing this workforce mix without a proper framework to protect the interests of gig workers. Missing social security umbrella especially in the growing economies and lack of pricing models are amongst the key factors to be addressed to unleash the true potential of gig work models.
Modern-day HRMS solutions are gearing up to these new ways of working, innovative solutions to connect organizations to the larger talent pool in the open-world curated to the specific business requirements are being introduced to boost the productivity and profitability.
“Embrace change. Envision what could be, challenge the status quo, and drive creative destruction.” Charles Koch
ZingHR is amongst fastest growing HRMS solutions with over 550 clients and about a million active users spread across India, Middle East, South East Asia and Australia. Harnessing the modern-day technology coupled with strong functional and business understanding ZingHR stands as a unique platform which aims at delivering Business Outcomes alongside HR Transformation.
