Themes and Narratives of Gig Economy: An Indian HR Perspective

Abstract

Industry experts estimate that there could be over 15 million gig economy workers in India. Despite its massive potential, India’s gig economy is still at a very nascent stage. Due to the recent pandemic, many companies were forced to trim staff and hire gig workers due to uncertain market conditions. This has dispelled many reservations about the dependability and long-term viability of a gig workforce. India can emerge as one of the largest markets for flexible staffing globally. It is therefore apt that a research article traces the Indian gig economy and draws valid inferences for the human resource (HR) function. The objective of this article is to review and synthesise themes and narratives around gig economy from the perspective of people’s function.The study analyses the concepts in two phases. In phase I, we summarise the key concepts from academic research. We, further, extract the opinions of business professionals; in phase II, using text mining techniques in SPSS Modeler Text of qualitative data discussed in the Indian context is used to come up with the gig economy narrative in India. This inductive research draws inferences from secondary data available in newspapers, magazines, blogs, research journals and comments posted on social media like LinkedIn and Twitter.The findings of this article reveal how gig economy has shaped the employer–employee relationship. While doing so, we present the opportunities and challenges for the gig workers, the influence of the pandemic in fuelling the gig economy and perception of the organisations. There is more positive sentiment and optimism around the gig economy in India. The role of the managers will transform in this model, and functions like learning and development and performance management will undergo vital changes. Creating a sense of inclusion and belongingness among the gig workers will become a priority. Therefore, to become a stable employment model, there is a need to create a robust gig ecosystem where expectations of all the important stakeholders are understood and met.Implication: The union budget 2021–2022 for the first time acknowledged the gig economy and announced social security benefits for the gig workers. It is time for HR and policymakers to redesign policies and processes that will not just accommodate gig workers into the formal employment but also foster inclusion. The exhaustive review of literature provides a holistic picture of gig economy to scholars interested in the field of gig economy, psychological contract, and diversity and inclusion. Practitioners can use insights from this research study to manage, engage and retain their gig talent.