Gig Economy – The Future of Work

 

Gig Economy – The Future of Work

Instead of a more traditional system, where an employee works full-time for only one employer, some are choose to enter the gig economy for the flexibility, freedom and personal fulfillment.

 

 

What is a 'Gig Economy?'

Gig economy means temporary and flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. A gig economy undermines the traditional economy of full-time employees who rarely change positions and instead focus on a lifetime career

There are people in high number who are willing to work part-time, the result of a gig economy is cheaper, more efficient service, such as OLA or Swiggy.

Example 1: OLA

As mentioned in OLA website

Ola is one of the world’s largest ride-sharing companies. Ola integrates city transportation for customers and driver-partners onto a mobile technology platform ensuring convenient, transparent, and quick service fulfillment. Ola is focused on leveraging the best of technology and building innovative solutions ground-up that are relevant at global scale.

It is with a revenue of approx. 758 crores (US$110 million) (FY2016) only with 6000+ employees but employment provided is for 10, 00,000 driver-partners across cabs, auto-rickshaws, and taxis.

Example 2: Swiggy

As per Swiggy website and internet sources, Swiggy was inspired by the thought of providing a complete food ordering and delivery solution from the best neighborhood restaurants to the urban foodie.

Major Sources of income in Gig Economy is commission based, certain % of amount taken from drivers by OLA and Swiggy commission charges are pegged between 15-30% across different restaurants and value of orders on the platform, but include delivery and payment charges. Swiggy also pay commission to the partnered delivery executive.

Few more examples are Uber, Airbnb etc.

 

 

Conclusion:

Gig economy creates a win-win situation to the agent and company.

Gig economy is creating more dynamism in the job markets by connecting talent with opportunity through digital.

It is more of creating employment in high numbers with flexibility of workers in on-demand services/products. Gig economy is dealing with high numbers of contractors which is with high risk and obligations who are employed. Because it is dependent on external factors like government compliance and competition raise etc.

 

-Siva

WHO - Properties of Objective

Properties of Objective:

W H O - (5W, 1H, 1O)

5W + 1H gives 1O

Every corporate Objective will have certain properties. Can say there are 6 simple belongings to the same and every achieved objective/ change that taken place in the corporate world also be covered with these 6 terms (5W and 1H).

1	2	3	4	5	1
W	W	W	W	W	H
Why	What	Who	Where	When	How

 

1) O- Objective (Organization/corporate Objective)

Objective here is nothing but an objective or an action that has to be achieved in the organization.

This can be final result of an action that taking place or change that is bringing to the table.

In my view, Every "Task to be done" or "vision to reach" is also called as Objective

 

1) W - Why

why are we moving towards objective

·         This property explains a importance of taking decision while moving towards objective

·         Need to have a key background towards the goal.

·         And also need to derive any risks that may come in the path which needs to be managed.

 

2) W - What

·         To identify the key changes that may come across. Which will help us to get prevented.

·         The actions that is getting implemented has to be simple and clear.

 

3) W - Who

This describes an identification. It means who all are involved in reaching the objective.

 

4) W - Where

Every of our objective we reach is with implementation and every implementation will have a location.

 

5) W - When

When is nothing but a timelines for any result to be meet

 

1) H - How

·         Methodology of reaching to the goal is derived from the term called HOW.

·         Methodology can also be called as a defined process.

·         Any process with flow chart view gives a clear picture at glance