As technology continues to penetrate every aspect of our lives at a rapid rate, it is also by extension changing the way the industry operates. Following the trend of exponential growth, there were approximately 846 million internet users in India in 2021, a number projected to reach 1.5 billion by 2040! In this scenario where digital has become the new norm, businesses are increasingly leveraging online platforms to reach their audience, and to expand.
A clear evidence of this is the emergence of the platform economy alongside the growing gig industry, and the dependence it has garnered. “Platformisation of work” has opened up avenues of greater visibility for enterprises, and has given them the scope of identifying their customizable needs. The pandemic also opened up the doorway to a lot of changes in the economy by channelling the mindset of the workforce towards a balanced and wholesome career. While on the other hand, enterprises realized that giggification of core business business functions and execution through an on-demand workforce would be the key to remain agile. Owing to its many advantages, the gig model has thus gradually emerged at the centre of the work economy, with a promise of convenience, growth, profitability, and end-to-end management.
An alternate perception
While the gig economy in India has prevailed for almost a decade now, the shift in the perception of gig partners catering to roles different from last mile and low-skill jobs, has only begun in the past few years. Gig workers have been commonly associated with low-skill gigs or blue-collar gigs such as last-mile delivery and cab driving, which can be executed by most individuals without intensive training. However, in the last 5-7 years, the gig economy has grown to include gig workers with different skills across the spectrum for more distinct roles. This change has occurred with the rise of enterprise-focused gig platforms which enable on-demand work fulfilment for businesses. Apart from B2C companies, B2B companies have also been leveraging the gig economy beyond its commonly known spectrum.
With capabilities to manage operations end-to-end and also seamlessly stitch together core business functions, the gig space has revamped itself, and how! Across all skill levels and a variety of platforms both online, and on field, the gig model is the perfect plug-and-play solution for business requirements. Thus, the gig workforce is now shedding the image of the last-mile agent, and becoming the force that can uplift an entire business.
Today, approximately 24 million jobs are expected to get converted to technology-led gigs in the next 3-4 years. The demand for gig workers is also seen to expand across other specialised industries such as quick commerce, healthtech, financial services, edtech, FMCG, FMCD, and e-commerce.
The flourishing gig economy today offers significant value for all participants, across skill sets and sectors of employment. In the last few years, Awign has created a market which provides livelihood opportunities for gig workers in the mid-skill segment, working on functions such as telecalling, content & data operations, proctoring etc. Gig workers with a few generic skills can leverage their range of abilities to earn a stable income in the gig economy while retaining flexibility and autonomy of work. Similarly, there has been massive growth in the white-collar gig economy in the last year with high-skill talent rapidly moving from traditional employment to contractual work. Our data suggests that in the last 12 months itself, there has been 105% growth in demand for high-skill gig talent for contractual roles.
Rising adoption by enterprises, consumers and India’s workforce, along with steps taken by the Government to formalise the gig economy have created newer avenues for gig workers, current and aspiring. Moreover, with growing participation in the gig economy, the ecosystem will also strengthen itself to build new products and solutions specifically catering to simplifying the lifecycle for gig workers. This will consequently aid further engagement in the gig economy.
At Awign, we bring enterprises an opportunity to accelerate growth and scale their business rapidly through our community of 1.3mn+ gig partners. These gig partners form a mobile and distributed workforce across low, mid and high-skill segments and enable us to execute core business functions for enterprises on-demand. These gig partners are involved in both hyperlocal gigs such as auditing, due diligence, business development, invigilation; along with digital gigs including telecalling, content & data operations, proctoring etc. Our offering, Awign Expert enables enterprises to hire high-skill gig talent across roles on contractual, milestone or project basis, wherein Awign manages the entire lifecycle for both the client and talent. These high-skill gig partners can be employed in both on-site and remote work settings.
The crux of it
The gig force continues to expand and become more diverse than ever with the entry of Gen Z, retired professionals, and women re-integrating into the workforce. They bring with them an inclination and understanding towards technology, their research potential for sprouting opportunities, and their vast capacity towards adaptability. So, not only has the gig economy revolutionised the tech industry, but also vice-versa. This is an inter-dependence that has a promise of sustenance. Hop on board for the gigified experience!