Scribd Logo
Upload

Welcome to Scribd!

  • 21 views

    Gig Economy:-: Advantages

    Uploaded by

    baby
    The document discusses the gig economy, issues faced by gig workers, advantages of the gig economy, a comparison to formal workers, and ways to move forward. The gig economy involves short term contracts instead of permanent jobs. Issues faced by gig workers include lack of social security benefits and protections provided to formal employees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Gig Economy:-: Advantages

    Uploaded by

    baby
    21 views2 pages
    The document discusses the gig economy, issues faced by gig workers, advantages of the gig economy, a comparison to formal workers, and ways to move forward. The gig economy involves short term contracts instead of permanent jobs. Issues faced by gig workers include lack of social security benefits and protections provided to formal employees.

    Original Title

    GIG ECONOMY

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the gig economy, issues faced by gig workers, advantages of the gig economy, a comparison to formal workers, and ways to move forward. The gig economy involves short term contracts instead of permanent jobs. Issues faced by gig workers include lack of social security benefits and protections provided to formal employees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    21 views2 pages

    Gig Economy:-: Advantages

    Uploaded by

    baby
    The document discusses the gig economy, issues faced by gig workers, advantages of the gig economy, a comparison to formal workers, and ways to move forward. The gig economy involves short term contracts instead of permanent jobs. Issues faced by gig workers include lack of social security benefits and protections provided to formal employees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Gig economy :-

     a labour market characterised by the prevalence of short-term contracts or


    freelance work as opposed to permanent jobs
     economy where instead of full-time employment, organisations contract with
    independent workers for short-term engagements.

     temporary, flexible jobs are commonplace 

    Issues faced by workers of gig economy:-


    Outside social security:-
    Social security laws like the EPF and ESI currently only cover employees earning
    below Rs 15,000 and Rs 21,000 per month, respectively. 

    Most Indian employment laws expressly prohibit dual employment

    Advantages :-
     Best talent:-
     employers can select the best talent available for a project without
    being bound by geography.
     Flexible work:-
     enables more people to participate in the labour market by providing
    flexible working, provides opportunities for the unemployed
     Both consumers and organisations can benefit through greater availability and
    accessibility of services and improved matching that better fulfils their needs.
     benefit of minimal cost:-
     Digital business models have lower transaction costs for consumers,
    and organisations can keep costs down by using independent service
    providers only when they need them.
     Profitability
     employers who used these workers reported that they were important
    to the company’s overall profitability and efficiency. 
     Skill development:-
     The people who want to learn new skills and explore new avenues can
    find great new opportunities in the gig economy.

    comparison to workers of formal Economy:-
     Most demands relate to improvement in incentives not permanent employee
    status
     no mandatory PF savings,
     no access to ESI hospitals,
     no workman compensation for accidents, etc, as these benefits are targeted
    primarily towards the organised sector. 
     Concerns over job insecurity and low income.
     Security
     Those working in the gig economy do not enjoy the same rights and
    protections as employed workers, such as health benefits, overtime pay and
    sick leave pay.
     Compliance issues:
     Gig economy has created jobs that do not fall in the traditional category
    and it is why it has also given rise to controversies and legal tussles. . 
     Lack of training and skill development opportunities:
     Inside the organizations, training and skill development models are
    available only to the regular employees. The gig workers do not have such
    resources available to them. 
     Career management issues:
     The gig workers are in short term relationships with the employers and
    therefore do not have a definite career.
    Way forward:-
     Minimum wages need to be improved drastically, and social security laws need to
    apply to everyone, ideally without wage barriers.
     The proposed Code on Wages and the Labour Code on Social Security are steps in
    the right direction.

    You might also like