~ The survey analyses the feedback of 1310 participants ~
Genius Consultants Limited, a leading name in the Workforce & HR Solutions industry recently conducted a survey to explore employee perspectives on the gig workforce and its potential impact on traditional employment structures.
The survey findings indicate a significant shift in perceptions. An overwhelming 83% of respondents believe that the gig workforce will eventually overshadow the traditional workforce, indicating a paradigm shift in the employment landscape. However, 10% of the employees have a different view on the subject.
A majority of 79% of participants view the gig workforce structure as more cost-effective and economical compared to traditional permanent and contractual talent, revealing potential benefits for businesses adopting gig models, but 15% hold a contrary opinion on the same.
64% of employees anticipate an increase in hiring expenses with the rising demand for gig workers, suggesting potential competition among organizations in pay structures. Whereas 11% of respondents suggest a nuanced relationship between demand and hiring expenses.
A substantial 61% of employees express a preference for employing a gig workforce over hiring permanent talent for project openings, signaling a growing acceptance of flexible and project-based employment arrangements. Another 28% of employees think it is subject to factors such as concerns about stability, long-term commitment, or specific job requirements that might be better suited for traditional permanent talent.
An overwhelming 81% of respondents believe that proper labour laws and government policies should be introduced to structure the gig workforce work model. This emphasizes the importance of establishing a regulatory framework to ensure fairness and protection for gig workers. However, 13% hold a different perspective on the necessity of such regulations.
Commenting on the same, Mr. R P Yadav, Chairman and Managing Director of Genius Consultants Limited said, “As we witness the transformative rise of the gig workforce, it’s clear that we are on the brink of a new era in employment dynamics. The overwhelming support for gig models and the anticipation of a shift from traditional structures underscore the evolving needs and expectations of the workforce. Companies across the world should focus on navigating this paradigm shift and staying at the forefront of progressive workplace practices.”
As the gig workforce gains prominence, companies need to recognize the need for businesses to adapt and navigate these changes and should be committed to fostering a dynamic and inclusive work environment while staying attuned to evolving workforce trends.
