The Gig Economy: A Thriving Force That's Here To Stay

June 22, 2023

Our Gig Expert Mr Nasimul Haque Shares his views on the current and future of Gig work and how it is impacting the staffing landscape.

Interviewer: I'm thrilled to have you here today as our gig expert. Gig work is trending and a lot of companies are thinking about it. Is this just a fad or is this something that will sustain?

Nasimul: Thank you! Gig is BIG and here to stay! I'm excited to be here discussing the transformative impact of the gig economy on employment.

Interviewer: Why do you say that?

Nasimul: We are witnessing a remarkable change in the way businesses perceive gig workers. Previously, there were reservations about their reliability and stability. However, today, gig workers are seen as adaptable and dynamic, resulting in complementing traditional full-time job arrangements.

The gig economy, characterized by the prevalence of temporary or freelance work, is reshaping the labour market. This transformation is driven by the demand for affordable alternatives, evolving work preferences and technological advancements. As a result, businesses are increasingly willing to explore gig workers for short-term requirements, leveraging activity-based pricing. Moreover, the surge of start-ups is amplifying the gig economy, as gig workers inject the necessary momentum into market activities before fundraising.

Interviewer: What kind of projects or tasks tend to hire gig workers? It seems like gig workers are being hired across various industries and for diverse initiatives.

Nasimul: Absolutely! Gig economy workers are in high demand for a wide range of tasks and projects, thanks to the flexibility and scalability inherent in this employment model. Here are some notable examples:

Administrative Support : Gig workers excel in tasks such as data entry, transcribing, customer support call centers, virtual assistance, and document retrieval.

Project-based Assignments : Businesses leverage gig workers for specific projects, including market research, visibility audits, mystery audits, eKYC (electronic Know Your Customer), fintech initiatives, and event management.

Specialized Knowledge and Skills : The gig economy empowers businesses to tap into specialized expertise in fields like data analysis and financial advising, enabling them to tackle complex challenges with precision.

Experimental Projects : Gig workers are frequently enlisted for experimental or pilot projects, allowing companies to concentrate on project deliverables without the burdens of traditional HR management.

Interviewer: Impressive! It's evident that gig workers contribute significantly to a wide array of tasks and projects. Besides the flexibility they offer, what are some other noteworthy advantages of hiring gig workers?

Nasimul: Hiring gig workers presents several compelling advantages for businesses. One major benefit is the ability to rapidly scale the workforce based on project demands. Instead of maintaining a permanent set of employees, companies can engage professionals on a project-by-project basis, ensuring optimal resource allocation.

Another significant advantage is cost-effectiveness. By employing gig workers, businesses can reduce overhead costs associated with employee benefits, office space, and equipment. This cost-saving potential is particularly valuable for small and large companies alike, empowering them to allocate resources more efficiently.

Furthermore, hiring gig workers unlocks access to specialized skills. The gig economy boasts a diverse talent pool, enabling companies to tap into expertise that may be lacking internally. This facilitates targeted project execution and enhances overall productivity.

Interviewer: Those advantages are truly compelling for businesses seeking growth and agility. However, I understand that managing gig workers can present challenges?

Nasimul: When hiring gig workers, there are certain challenges that businesses need to consider. One key challenge is that gig workers typically prioritize completing assigned tasks rather than investing in long-term organizational goals. As a result, short-term, well-defined tasks with clear deliverables are generally more suitable for gig workers. On the other hand, complex, long-term initiatives that require extensive collaboration may be better suited for existing teams, as gig workers may lack in-depth knowledge of the company's internal processes, culture, and history. Ultimately, the suitability of gig-based hiring depends on the nature of the project or program.

Interviewer: Is there a solution or platform that can assist in effectively managing gig projects?

Nasimul: Absolutely! Managing gig projects requires a strong technological capability and access to a database of gig workers, which needs to be regularly refreshed. This is where our Quess’ managed solutions comes into play. Gig based projects, as part of our Staffing Plus services, combines these two capabilities to deliver operational excellence based on the client's requirements. It offers customized solutions in various areas such as driving secondary and tertiary sales, executing the marketing strategy, retail and merchant operations, fintech onboarding and sales, and data management. With our services, businesses can efficiently manage their gig projects and ensure successful outcomes.

To know more about how Quess can help you, get in touch with our Gig Expert Mr Nasimul Haque (AVP) - nasimul.haque@quesscorp.com

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