Have you ever wondered, what is your employees’ viewpoints regarding the gig workforce and its possible repercussions on conventional employment frameworks? 

Genius Consultants Limited, a player in the Workforce & HR Solutions sector recently undertook a survey and revealed a notable change in perspectives. A staggering 83% of respondents foresee the gig workforce eventually surpassing the traditional workforce, signalling a paradigm shift in the employment terrain. 

However, 10% of employees hold a differing opinion on the matter. The survey shows that a significant majority, comprising 79% of participants, consider the gig workforce structure to be more cost-effective and economical than traditional permanent and contractual talent. 

This suggests potential advantages for businesses embracing gig models. However, 15% of respondents hold a differing view on this matter. The survey reveals that 64% of employees foresee an increase in hiring expenses due to the growing demand for gig workers, implying potential competition among organisations regarding pay structures. 

Conversely, 11% of respondents perceive a more nuanced relationship between demand and hiring expenses. A notable 61% of employees express a preference for hiring gig workers over permanent talent for project openings, indicating a rising acceptance of flexible and project-based employment arrangements. 

However, 28% of employees believe this preference depends on factors such as stability concerns, long-term commitment, or specific job requirements that may be better suited for traditional permanent talent. 

Moreover, an overwhelming 81% of respondents advocate for the implementation of proper labour laws and government policies to regulate the gig workforce model.

This underscores the importance of establishing a regulatory framework to ensure fairness and protection for gig workers. Nonetheless, 13% hold a different perspective on the necessity of such regulations. 

Mr. R P Yadav, Chairman and Managing Director of Genius Consultants Limited, commented on the findings, stating, “As we witness the transformative rise of the gig workforce, it’s clear that we are on the brink of a new era in employment dynamics. The overwhelming support for gig models and the anticipation of a shift from traditional structures underscore the evolving needs and expectations of the workforce. Companies across the world should focus on navigating this paradigm shift and staying at the forefront of progressive workplace practices.” 

As the gig workforce gains prominence, companies need to recognise the need for adaptation and navigate these changes. They should be committed to fostering a dynamic and inclusive work environment while staying attuned to evolving workforce trends.