Report Reveals Growing Preference for Gig Workforce in India

The landscape of employment in India is undergoing a significant transformation, with a growing preference for gig work over traditional employment models. According to a recent report released by Genius Consultants, a leading staffing solutions and HR services provider, over 83 per cent of respondents anticipate that the gig workforce will surpass the traditional workforce in the future.

The report, based on an online survey conducted among 1,310 employees across various sectors including banking and finance, education, FMCG, hospitality, IT, and manufacturing, highlights the shifting dynamics of the Indian job market. With the rise of freelancing and gig economy platforms, there is a growing recognition of the advantages offered by flexible work arrangements.

Key findings from the report indicate that a significant majority of respondents, amounting to 79 per cent, perceive the gig workforce structure as more cost-effective and economical compared to traditional employment models. This perception underscores the potential benefits for businesses embracing gig-based hiring practices, including reduced overhead costs and increased agility in resource allocation.

Moreover, the survey reveals that 64 per cent of employees anticipate a rise in hiring expenses as the demand for gig workers continues to grow. This trend suggests a heightened competition among organizations to attract and retain top talent in the gig economy, potentially leading to adjustments in pay structures and benefits packages.

Interestingly, the report also highlights a notable preference for hiring gig workers over permanent talent for project-based openings, with 61 per cent of respondents expressing a preference for the former. This preference reflects a growing recognition of the flexibility and scalability offered by gig-based arrangements, particularly in industries characterized by fluctuating demand and project-based work.

However, despite the growing popularity of gig work, the report identifies certain reservations among employees regarding the stability and long-term commitment associated with traditional permanent roles. Approximately 28 per cent of respondents cited concerns about stability and specific job requirements as factors influencing their preference for traditional employment models.

In light of these findings, the report emphasizes the need for proper labour laws and government policies to regulate the gig workforce work model effectively. Over 81 per cent of respondents believe that the introduction of appropriate regulatory frameworks is essential to ensure the rights and protections of gig workers while fostering a conducive environment for sustainable employment practices.

Commenting on the report’s findings, Genius Consultants Chairman and Managing Director R P Yadav noted, “The overwhelming support for gig models and the anticipation of a shift from traditional structures underscore the evolving needs and expectations of the workforce.” This sentiment reflects a broader shift in the Indian employment landscape towards greater flexibility, autonomy, and adaptability in work arrangements.

Overall, the report sheds light on the emerging trends and challenges shaping the gig economy in India, highlighting the need for proactive measures to address the evolving needs of both employers and workers in an increasingly dynamic and competitive job market.