Gig Economy – A Conceptual Introduction

Gig economy refers to a free market system in which temporary, flexible jobs takes place. Companies tend towards hiring independent entity on contractual basis or on freelancing instead of full-time employees. Gig economy deprives the traditional economy of full time workers, who rarely change positions and instead focus on a lifetime career.

The major advantage of gig workers is that they get to choose the type and amount of work. Employers benefit in the following ways like :-

  • Flexibility 
  • Expertise 
  • Cost saving
  • Source employees

On the other hand, full time employees are generally offered incentives whereas gig workers do not usually have this benefit.

GIVING PERFORMANCE FEEDBACK TO GIG WORKERS :-

Feedback is a two way process and contractual workers are serious about their work and welcome the opportunity to improve the area for betterment but giving feedback to gig workers is really tough task to do because workers are on a contractual basis and therefore we don’t know them personally.

For giving feedback to them we can do the following :-

  • Be very clear to them
  • There is no rule to give formal review to them but at end of every assignment chat with them to tell their performance
  • If they have done a good job thank them in front of everyone, if possible 
  • They will appreciate the recognition and it will give them a confidence

 

“working in the gig economy means constantly being subjected to last-minute scheduling”.


Blog post by: Ms Anshul Tiwari

MBA Student

DOON Business School

 

 


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