India is Adapting to a Gig Economy
Recent statistics show 20-30% of the workforce in developed economies is engaged in time-bound contractual work. Also known as “a gig” or as an open talent economy, the trend is slowly catching on in Asia. This implies collaborations in a borderless market with technology facilitating the arrangements.
The millennial generation values a work-life balance and thus is opting for a flexible schedule. Another development is that high-end skills are also now being incorporated into this segment of the workforce. Positives are flexibility and negatives are diminished protection and risks of exploitation.
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