Globalization, de-industrialization, automation, and digitization – all have had and continued to have a disruptive effect on traditional jobs and working practices throughout the world (De Stefano, 2015). A gig economy is a free market system in which temporary positions are common and organizations contract with independent workers for short term engagement. the digital element is argued to be the primary distinction between the gig economy and the traditional working arrangements. there are currently four broad types of platforms that have been identified; higher skilled creative and IT tasks that can be performed from anywhere; low-level repetitive work that can be performed from anywhere; manual service work that can be performed on the customer's premises and lastly work that involves driving and delivery. Many talented people have decided to leave the traditional workforce in exchange for freelance work in their area of expertise. This gives them desired flexibility in their lifestyle. Working with this emerging system is becoming a challenge for Human Resource Managers. If the best talent is no longer available for an in-house position, HR managers must find ways to either create long-term contracts or to develop other suitable talents (Lawrence F. Katz; Alan B. Krueger;, 2015).
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References:
De Stefano, V. (2015). The Rise of the 'Just-in-Time Workforce': On-Demand Work, Crowd Work and Labour Protection in the 'Gig-Economy'. SSRN Electronic Journal.
Katz, L. and Krueger, A. (n.d.). The rise and nature of alternative work arrangements in the United States, 1995-2015.
O’Brady, S. (2014). The Fissured Workplace: Why Work Became So Bad for So Many and What Can Be Done to Improve It by David Weil, Cambridge, MA: Harvard University Press, 2014, 424 pages. ISBN: 978-0674725447. Relations industrielles, 69(3), p.655.
Todolí-Signes, A. (2017). The ‘gig economy’: employee, self-employed or the need for a special employment regulation?. Transfer: European Review of Labour and Research, 23(2), pp.193-205.
Is the Gig Economy dependable and meet the required Market standards?
ReplyDeleteAccording to a study conducted by CITYLAB and JP Morgan Chase & Co. Institute, questions the dependability of the Gig Economy. JP Morgan states, at the beginning the workers use apps to get gigs but later on from statistics based on their work hours and earnings, are very low. The individual who headed this study Fiona Greig, states “…the pool of gig workers are not gig working consistently at all.” The study statistics confirmed majority of workers in any sector participated only for three months from the whole year. (Holder, 2018)
Quora (2019), shows the dire need and requirement of the individual who’s in the category of the Gig economy to continuously up their skill standards by way of the vigorous and constant studying. If not, it goes on to show the demand of these individuals tend to drop due to the lack of required market standards.
Reference
Holder, S. (2018) The Future of (Occasional) Work. CITYLAB [online]. Available at: < https://www.citylab.com/transportation/2018/09/future-occasional-work/571246/.>. [Accessed on 25th April 2019].
Quora (2019) What are the Pros and Cons of the Gig Economy?. Forbes [online]. Available at :< https://www.forbes.com/sites/quora/2019/01/08/what-are-the-pros-and-cons-of-the-gig-economy/#2ef235bc1388.>.[Accessed on 25th April 2019].
The global workforce is being more empowered today as a result of cloud computing and greater mobility, also it has facilitated the development in business frameworks where the workforce is increasing external, project based and flexible (Younger and Smallwood, 2016). These global trends have caused to create significant changes in organization culture by making impact to the relationship between employer and its workforce.
ReplyDeleteAccording to Peter Swaniker, Founder and CEO at Ximples, there are many pros and cons of Gig Economy system. He further argued that Gig Economy is greater for its creativity. The reason is, this system can be a part time profession most of the times. As well there is an opportunity to do the job at any time, and any place. At the same time, there are several disadvantages also. In the Gig Economy system, the employees or the people have to upgrade their knowledge, skills, abilities and everything in a regular basis because the labor force is becoming more and more knowledgeable day by day. Not only this but also the employees in this economy lose their traditional benefits that full time employees are provided such as health covers, paid leaves and etc. As well as the employees have to have, longer to build in depth experience in certain jobs (Forbes).
ReplyDeleteReference
Forbes (2019) What are the pros and cons of The Gig Economy?. Forbes [Online]. Available at https://www.forbes.com/sites/quora/2019/01/08/what-are-the-pros-and-cons-of-the-gig-economy/. Accessed on 26th April 2019.
It is a form of work that driven by data (information). Anyone with correct information or data can make an impact to the economy. Present day information plays a vital part in the society. If an organization has the correct algorithms to process people requirement they are able to cater large number of people without spending a large capital. With deep learning and artificial intelligence future world is going to shape the economy with unimaginable ways.
ReplyDeleteLepanjuuri, K., Wishart, R. and Cornick, P. (2018). THE CHARACTERISTICS OF THOSE IN THE GIG ECONOMY. [online] Assets.publishing.service.gov.uk. Available at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/687553/The_characteristics_of_those_in_the_gig_economy.pdf [Accessed 24 Apr. 2019].
Considering on workers, it has a doubt whether they have a power to bargain for a better pay and working condition? Furthermore, according to several researches indicate that most of the freelancers are struggling for their payments and getting compensated for their work.
ReplyDeleteCertain companies such as, UBER leads to a misclassification and complication related to the employment status of the related parties who are involved with that organization. The Gig economy is also resulting in unstructured employment system which may result in avoiding employment regulations. (Sargeant, 2017)
ReplyDeleteReference :
Sargeant,M (2017) The Gig Economy and the Future of Work in Labour Studies. E-Journal of International and Comparative, 16(2), pp.1-12[online]. Available at < http://ejcls.adapt.it/index.php/ejcls_adapt/ .>. [Accessed on 27th April 2019].
The gig economy has been refered to as furnishing individuals with the chance to reclaim control on their work existence with the individual choosing to work when they need. It gives off an impression of being seen as a particularly welcome improvement by the more younger working population who want more noteworthy work-life balance. Be that as it may, there is critical potential for this working course of action to deprive an age of short-medium and long term job security. The absence of a protected activity has suggestions for one's ability to lease or claim a home, the absence of social advantages, and pensions.(Kirven, 2018)
ReplyDeleteReference:
Kirven, A. (2018). Whose Gig is it Anyway? Technological Change, Workplace Control and Supervision, and Workers’ Rights in the Gig Economy. University of Colorado Law Review, 89 (1), 249-292.
Todays advanced technology, and smartphones has brought the marketplace to the fingertips. workers’ willingness to participate in the gig economy provides evidence that gig work is a beneficial arrangement. Gig has many benefits like easier to find jobs, its flexibility to choose jobs and also the timing.
ReplyDeleteReference:
Muntaner, C (2018) Digital Platforms, Gig Economy, Precarious Employment, and the Invisible Hand of Social Class. International journal of health services, 48(4), pp.597-600