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GIG economy - Human Resource management - Manu Melwin Joy

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GIG economy - Human Resource management - Manu Melwin Joy

  1. 1. GIG Economy Human Resource Management
  2. 2. Prepared By Manu Melwin Joy Assistant Professor SCMS School of Technology and Management Kerala, India. Phone – 9744551114 Mail – manu_melwinjoy@yahoo.com Kindly restrict the use of slides for personal purpose. Please seek permission to reproduce the same in public forms and presentations.
  3. 3. GIG economy • A gig economy is an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements.
  4. 4. GIG economy • The trend toward a gig economy has begun. A study by Intuit predicted that by 2020, 40 percent of American workers would be independent contractors.
  5. 5. GIG economy • There are a number of forces behind the rise in short-term jobs. For one thing, in this digital age, the workforce is increasingly mobile and work can increasingly be done from anywhere, so that job and location are decoupled.
  6. 6. GIG economy • That means that freelancers can select among temporary jobs and projects around the world, while employers can select the best individuals for specific projects from a larger pool than that available in any given area.
  7. 7. GIG economy • Digitization has also contributed directly to a decrease in jobs as software replaces some types of work and means that others take much less time.
  8. 8. GIG economy • Other influences include financial pressures on businesses leading to further staff reductions and the entrance of the Milennial generation into the workforce.
  9. 9. GIG economy • The current reality is that people tend to change jobs several times throughout their working lives; the gig economy can be seen as an evolution of that trend.
  10. 10. GIG economy • In a gig economy, businesses save resources in terms of benefits, office space and training. They also have the ability to contract with experts for specific projects who might be too high-priced to maintain on staff.
  11. 11. GIG economy • From the perspective of the freelancer, a gig economy can improve work-life balance over what is possible in most jobs.
  12. 12. GIG economy • Ideally, the model is powered by independent workers selecting jobs that they're interested in, rather than one in which people are forced into a position where, unable to attain employment, they pick up whatever temporary gigs they can land.
  13. 13. GIG economy • The gig economy is part of a shifting cultural and business environment that also includes the sharing economy, the gift economy and the barter economy.

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