Gig Economy and the Future of Work

LinkedIn 2023 Workplace Learning Report: *Building the Agile Future* report highlighted that 63% of professionals in India have either freelanced, taken on consultancy roles, or are considering doing so.

A report by Boston Consulting Group (BCG) indicates India has the world's third-largest freelance workforce, after the US and the Philippines.

NITI Aayog notes that about 47% of gig work is in medium- to high-skilled jobs, attracting a younger, educated demographic.

Uncle’s generation was happy with a stable job and spent life at the pace of a monthly salary slip. The current fragile & unstable work future is making people redefine job choices. The current generation is entrepreneurial, and a 9-to-5 monotonous job feels boring. They see themselves as a one-person brand. Freelancing and gigs are the direct route to market that brand. They want to be the CEO of their own day. Autonomy and flexibility are more valued to enjoy life.

Due to fast-changing technology & structural change in business, specialised skill sets are in huge demand. Companies are much delighted when it comes without long-term commitments and financial burden. It gives them leverage of a large pool of talent and to get fresh perspectives.

Professionals leverage continuous learning & skills-first hiring to stay relevant and adaptable.

Freelancing and high-skill gig work throw you directly into the marketplace. You are the product, the salesperson, the accounts department, and the delivery head. Being your own boss comes with the hard reality of having to be your own everything. That’s the real gamble & the real education.