gigeconomy
The current discussion of the gig economy focuses on its negative impact, highlighting the drawbacks of independent contractor agreements and the greater uncertainty in online work. However, the gig economy can mean something else for workers approaching retirement age. The benefits of remote work, independent contractor agreements, and other informal types of employment may outweigh their disadvantages. Older workers often desire greater flexibility and autonomy. They also prefer part-time work over full-time employment. Many of those in retirement age or already retired use the gig economy t...
Due
Having a side hustle earlier on was seen as a smart way of earning extra income, presumably doing something you loved and setting your own hours. Very often, it was also a way to test the waters with a new idea or passion project, with the intention of hopefully turning to it full-time, if it made enough money. However, with the cost of living having risen significantly over the last few years, side hustles have now become more of a necessity than an option, with several people relying significantly on the extra income to pay essential bills. Side hustles are also a way of insulating yourself ...
Euronews (English)
By Hera Rizwan Prince*, a 24 year old Swiggy delivery executive, sits by his electric bike outside a food outlet in Delhi, as he awaits the food package which he is supposed to deliver in the next twenty minutes. “I am able to make around Rs 800-900 per day, if I complete the designated target for the day,” he said. Although, not barely enough, Prince sends the bulk of this meagre sum to his father who lives by himself in a village in Bihar. He then manages his personal expenses with whatever is left. Fearing his financial prospect for three days starting from September 8, Prince said, “I send...
BOOM Live
Many associate the word “gig” with musicians jumping job-to-job, playing different venues every night. But the “gig economy” that gets discussed in the news today is different. It refers to a new segment of the service economy, including freelancers and independent contractors who take short-term or temporary positions. These positions are often flexible on where workers are located, allowing people to work remotely or on a self-defined schedule. Unlike full-time, permanent employees, gig workers have less job security, but enjoy greater freedom in their work lifestyles. Employers of gig worke...
ValueWalk
By Hera Rizwan The Rajasthan Assembly, on Monday, passed a bill extending social security to gig workers in the state. The bill aims to register platform-based gig workers and their aggregators, in a bid to monitor the welfare of the underpaid gig workers. The Rajasthan Platform-Based Gig Workers (Registration and Welfare) Bill aims to establish a welfare fund, making the state led by chief minister and Congress leader Ashok Gehlot the first to do so. A gig worker is a professional who, instead of receiving a regular income, receives payment based on completing one-time projects or gigs. The C...
BOOM Live
By Kaisar Andrabi Farheen*, a 27-year-old single mother with four children, is anxious about the car and personal loan she took for her children's education. Last month, she used up her small savings to make the monthly payment. Now, she's worried about not being able to pay this month because she has no income. Her troubles started when Urban Company, her employer, blocked her work ID for failing to maintain a demanding rating of 4.8 out of 5. Farheen believes the new rules for maintaining this rating are unreasonable and beyond her control. “I've been working at this job for three years, and...
BOOM Live
By Titha Ghosh On a Wednesday afternoon, Kishor*, a BluSmart driver in his late 40s, held the door of his white SUV open with a pronounced look of nervousness on his face. “Ma’am main gate tak nahi aa paaya, thik hai na?” (Is it alright that I was not able to come all the way up to the gate?). Kishor has much to worry about. According to BluSmart policies, 1,000 rupees will be deducted from his wage if there’s a single complaint against him. A few minutes into the ride and a couple of reassurances later, Kishor has calmed down and a sense of normalcy prevails. He apologises again and says that...
BOOM Live
By Kaisar Andrabi Suraj Kumar, a Swiggy delivery agent, anxiously waited at the McDonald's outlet in PVR Saket for his order to be prepared. A sense of disappointment was visible on his face as he noticed that his app showed the order was ready, even though the restaurant had not yet handed it to him. It was already noon, Kumar had only completed five deliveries, earning a meager amount of approximately 190 rupees in his account. For the 27 years old, any delay in orders means that Kumar had to extend his working hours, often stretching his shift from 10 to 14 hours in order to meet his expect...
BOOM Live
By Kaisar Andrabi When Vinay Sati, an entrepreneur from Uttarakhand, ordered food from Zomato a few days ago, he was told by the delivery agent while delivering his order how he could cheat and get his food at a much lower rate next time, if he uses the ‘cash on delivery’ (COD) option on order. On January 22, Sati shared a post on LinkedIn saying that the ‘scam’ by the food delivery agents might be causing a massive loss to Zomato. The entrepreneur wrote, “Yesterday I ordered some Burger King burgers from Zomato And I also made the online payment. And as soon as the delivery boy came after 30-...
BOOM Live
The COVID-19 pandemic significantly disrupted typical working habits in 2020 and 2021, and there is much speculation about how things are going to settle down moving forward. In its latest report, ‘TMT Predictions 2022’, leading data and analytics company GlobalData offers its view on the future of work. The report reveals that reshoring – when the production of goods is returned to the company’s original country – gig economy regulation, and flexible working will become the new norm. Q3 2021 hedge fund letters, conferences and more As 2021 draws to a close,Amrit Dhami, Thematic Analyst at Glo...
ValueWalk
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