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FUTURISTIC CAREER Is GIG The gig economy is the ‘free market ECONOMY is system’ of organisations with short killing the term requirements for specific Traditional skills and freelancers who want work to work independently and earn quickly. The gig is a trend set by musicians By Manmeet Singh working on temporary assignments, but now synonymous to Millennials’ way of working that makes today’s mobile workforce feel ‘in control’. Technology disruption has been driving rapid shifts in the labour market in terms of how the businesses and GenY workers want to get the work done. A skilled workforce fills the void due to digital transformation meet short term project goals and gig workers are using supplemental freelance contracts to fund their retirement plans without compromising on freedom and flexibility. Both employers and candidates are trying new and alternative ways. Forces that gives the boost to gig economy are the outcome of technological disruption, such as digitisation, cost-cutting to manage investments in automation and therefore, opting for flexible workforce solutions. 52 | CAREER BEACON | Issue 2 | 2019
The gig economy is all about boosting incomes, it is the employers’ responsibility to invest in the well-being of their gig workers as well. A regular payroll policy does not apply to a gig worker. Employers need a detour from their usual traditional ways A gig economy is an off-beat style of employment can of working to meet the new age workers at a common fortify organisations to fit the ever-changing world of point and understand what they want and how they want work. Full-time employment still rules the job market. to work. New skills are in demand and to bridge the gap employers are looking at unconventional ways to. Gig Economy is the evolution and not the end of Uberization of work is making headlines, with still only traditional work system a small fraction of the workforce being the gig workers. Changing jobs frequently has always been a trend with the Surveys say more workers are showing interest in the non- young workforce as it ensures higher salary, new roles to traditional, flexible work models. explore, more perks and benefits. It is an evolving trend in millennials, to supplement additional income by exploring Today, the global market value of the gig economy is $3.7 different positions to develop new skills, more flexibility trillion. Nasscom report reveals that Indian freelancers and balanced work-home integration. In a nutshell, account to 24% of the global online gig economy, which control where, when and how they work. makes India the 2nd largest gig economy. GenY and millennials promote it. A global phenomenon And companies all over the world are trying to embrace Ethics will still matter this new style of working. Given the nature of work, it is The gig economy is now an integral part of the shifting led by independent workers picking and choosing new culture and the change in the environment of businesses roles that they want to do. Employers can now enjoy from a traditional, employer centric to a flexible, flavours of both the worlds, the steady workforce for the employee-centric one. regular work and the gigs who meet the short term project targets. In spite of the increasing demand and supply of the gig economy, some employers are more comfortable with the Perks and Benefits in the Gig Economy conventional way of working. While the gig economy is all about boosting incomes, it is the employers’ responsibility to invest in the well-being of However, the traditional roles of the internal resources, their gig workers as well. A regular payroll policy does not which are the industry experts and well-versed with the apply to a gig worker. Business leaders and policymakers are system will be in fashion. now joining hands to explore how to supplement the Next- Gen workers with that magic blend of flexibility and stability. On-demand is in-demand now Author is president of Experis IT, The ever-developing technology landscape needs agile Manpower Group India teams with the right skills to provide the required know- how and gig workers exactly fit the bill.
BOOK REVIEW ETMHOETIONALLY INTELLIGENT COACH The Emotionally Intelligent Paperback 170 Coach, a book by Dr Published on September 9th, Anju Chawla, who is an 2019 by Brand Sales Academy Internationally Certified Cost of 450 EI Coach, is written in lucid and Language English conversationalist style. Available in Print Version Author of Anju Chawla A vibrant concept influenced If the concept of Emotional Intelligence gets implemented by diverse psychological and at the school and college level, students will immensely social factors touches all the factors benefit. EI believes in the importance of each emotion-be, with minute detail. Anju’s book will it a pleasant one or unpleasant. This book also emphasises surely enlighten people about the power of the adverse side of bottling up of emotions and shares the emotional intelligence. ways to deal with stuck emotions. This book is a manual to experience one’s insight about personality, performance and productivity to fruition. Case studies present in the book relates to the real-life situation. The beneficiary is not limited to Dr but is anyone who is in Educators and academicians are encouraged to learn the the role of helping oneself or others. Both at professional concept of a coach with emotional intelligence as they and personal level readers will benefit from these examples are the craftsmen for the future of mankind. Gen Y, Z and can implement real extracted interventions to daily has gone more virtual than real. Hence they need the life scenarios. The essence of the book lies in the following: knowledge of EI the most so that they can decide whether “In today’s turbulent times, in the madness of everyday to bring emotion in the way or to let emotions get you on life, we often get lost and lose touch with ourselves. If the way. we look within, our potential is a lot more than what we think”. It is a must-read for students and academicians. 54 | CAREER BEACON | Issue 2 | 2019
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