Embracing the Evolution of Employment: Exploring the Benefits and Hurdles of the Gig Economy
Jerry Simon MBA- I Semester Batch: 2023-25 jerry.simon2025@sibmnoida.siu.edu.in The gig economy is a concept that has been increasingly discussed recently. It encompasses a wide range of occupations, from taxi drivers to food delivery drivers, consultants to bloggers, among others. In this article, we will attempt to gain an understanding of what the gig economy entails and the benefits and challenges associated with it. According to a Boston Consulting Group (BCG) analysis, approximately 15 million gig workers in India are operating in software, shared services, and professional services. The “gig economy” is a working environment consisting of flexible, short-term jobs that organizations offer to independent contractors and freelancers. Organizations benefit as they can save money on employee benefits, payroll costs, etc., in this situation, and gig workers have the flexibility to work from any location. They can earn from several streams of revenue f...