The global rise of the gig economy has reshaped the people's work, especially India taking the center position as 5th largest contributor. Gig workers in India and often paid less than traditional employees and may not have the same legal protections. Some firms exploit gig workers by treating them as independent contractors to avoid paying taxes. Moreover, salaries of gig workers are comparatively much less as compared to others. Keeping in mind the report of NASSCOM, the Indian gig workforce is expected to expand by more than 3 times, we need to emphasize on providing them competitive salaries and reducing social inequalities.
Impacts on the Workforce:
Advantage for workers
The gig economy encourages the workforce to look at job security with a new lens - the lens of flexibility. This level of flexibility empowers individuals to explore diverse income opportunities, balance work-life commitments, and pursue their passion on their own terms. Working on projects for multiple companies simultaneously can help to grow skill sets and exposure to opportunities. This is giving rise to an entrepreneurial mindset, giving rise to more confident self-employed individuals. This leads to innovation, creativity, and agility in the market.
Advantage for companies
The primary advantage of the gig model lies in its cost-effectiveness, which allows businesses to utilize their time and resources in technological developments to keep pace with the digital era. This model enables companies to reduce the cost of healthcare and other benefits.
While the gig economy offers various advantages, it also presents several challenges for both workers and the broader society. These include:
Income stability: Gig workers often face income instability due to fluctuating demand, inconsistent work opportunities, and variable pay rates.
Lack of Benefits and Protections: Gig workers typically lack access to traditional employee benefits such as health insurance
Quality Control and Consistency: Corporations may struggle to maintain quality workers and ensure consistency in delivery.
Retention and risk management: Due to lack of belonging and commitment amongst gig workers, corporates may face challenges in retaining employees. Corporates may have limited control over the actions of gig workers
Role of Online Learning in Equipping Freelancers and Entrepreneurs for Success
In this evolving landscape of online learning and AI, continuous learning and upskilling have become imperative for freelancers and entrepreneurs to keep pace with change. Online learning platforms provide immense opportunities in the form of sources, resources, training modules to help people improve their skills. The advantage of flexibility in learning provided by online platforms, helps individuals to learn and upskill at their comfort. Topics covered by online platforms from coding to AI learning keep people abreast of modern trends and technologies.
Moreover, online learning fosters a culture of lifelong learning and professional development. This is encouraging enthusiasts and freelancers to adapt to changing market demands and supporting their entrepreneurial mindset and hence supporting India become a leader in the world market.
One of the important advantages of online learning for gig workers is affordability. Traditional education can be costly, making it less accessible to freelancers and entrepreneurs who may be operating on tight budgets. Online learning platforms often offer affordable courses, making high-quality education accessible to individuals regardless of their financial constraints.
Vast network of online platforms will facilitate gig workers in networking and collaboration among learners through forums, discussion boards, and virtual communities.
Online learning plays a pivotal role in equipping freelancers and entrepreneurs with the skills and knowledge needed to succeed in this rapidly evolving environment, empowering them to thrive in the gig economy of the future. By leveraging online learning resources, freelancers and entrepreneurs can enhance their capabilities, differentiate themselves in the market, and achieve their professional goals. If online learning platforms will be utilized in best possible way, it can change the scenario of gig workers in India and will open more job opportunities, thus making Incredible India little better.
