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Flexible, flexi-time, contractual hiring is going to be the most prominent trend shaping the future of work in India, according to a new report.
“The next two to five years the country will see a rising trend of gig professionals being offered Manager and Executive (Mid-Career level) positions,” said a report by IndusGuru, which is an online curated platform of freelance professionals.
The total demand of the gig workforce is expected to grow at a CAGR of 17 per cent in this period, it further said.
The company conducted a research study with over 50 companies from FMCG, health, infra, manufacturing and professional services sectors on the future of workforce hiring practices in India and organisational trends in hiring gig talent.
The report revealed that 65 per cent or two-thirds of the companies surveyed are already engaging gig professionals. These companies are also willing and keen on engaging freelance professionals when they want talent for interim or project-based roles, to build short-term flex capacity and to build new capabilities.
“While projecting the future of the professional gig economy, 60 per cent of company participants believe that flexible, part-time and contractual hiring is likely to be the most prominent future need, followed by consulting projects,” it further said.
Boost for WFH
The findings are significant given that the pandemic has boosted the work-from-home and remote working concepts and gig economy is catching up in India.
Deepak Malkani, Co-Founder, IndusGuru said, “Our research is aimed at providing insights to organisations on adopting the gig workforce, scaling it in the immediate term and adopting fundamental changes for the long-term sustainability.”
The study also highlighted that companies’ need to work on a more formalised HR approach while managing the process of onboarding, work-arrangements, engagement and contractual payments. Further, companies need to work on aspects like training, insurance, IT and data security while structuring the professional gig hiring system.
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