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Gig Economy Disrupting Permanent Jobs, Gen X Preferred over Millennials : TimesJobs Survey

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According to a recent survey by TimesJobs, Gen X workers (workforce born in the mid-1960s to the early 1980s)  are preferred over the millennials for gig work. More than 1600 HR professionals responded to the survey which was undertaken across various industry verticals. 

TimesJobs announced the results of its latest survey ‘Is gig economy the future of India’s workforce?’ to analyze the trends in the demand for freelancers. According to this survey,  Gen X  workers are preferred over the new-gen professionals for gig work.

Some notable facts of the survey are as follows: 

  • Men are hired more as freelancers as compared to women (45% of HR professionals responded)
  • Around 20-30% of the contingent workforce is hired by the industry on an average in a year ( 36% of industry leaders’ opinion)
  •  Tier-1 cities have the highest demand for contractual workers (48% of survey respondents)
  • Tier-3 cities have a low demand for temporary staff
  • In Tier-1 cities. the demand is high in Bengaluru, Delhi, and Mumbai, respectively.

Corporates prefer Gen X over young professionals as freelancers

  • Around 49% of the respondents have stated that corporates have the maximum demand for flexi-staff
  • 31% of survey respondents have said that the start-ups have the highest demand for the contingent workforce
  • The demand for the mobile workforce was not very significant in small and medium-sized enterprises.
  • 52% of hiring managers have stated that they would prefer recruiting Gen X professionals rather than the  millennials for temporary work positions for their organization
  • Only 15% of respondents have said that they would prefer hiring Gen Z (the mid-1990s to early-2000) for their contingent workforce

Recruitment agencies’ responses

The recruiters were also questioned about the engagement model they use to hire freelancers. Around 28% of respondents said that they treat their contingent workforce at par with their permanent employees. The freelancers are involved in strategic decision-making, including engaging them by giving feedback to them.

“Corporates are looking for agility from their workers and are willing to offer the flexibility required by the workforce. This is promoting the gig economy model in most industrial sectors”

Prominent sectors to hire freelancers

As per Sanjay Goyal, Business Head, TimesJobs and TechGig, some noteworthy sectors for providing freelancing opportunities:

  • Technology sector is creating most freelancing opportunities. IT sector is the largest employer of temp staff among various other sectors
  • Most freelancers will be hired for Blockchain architecture relates tasks
  • This will be followed by social media/SEO related tasks
  • Social media handling, web development, and web designing are popular freelancing jobs
  • Financial jobs roles have the least preference for freelancing jobs
  • The demand for temp staff is negligible in automobiles, BFSI and infra industry

Top Freelancing Jobs Roles in the Next 5 years

  • Blockchain architecture specialist
  • Social media/Seo
  • App developers
  • Content writing & blogging
  • Finance auditors
  • Web Developers
  • Visual assistants
  • Graphic designers
  • Animators

Source: https://www.peoplematters.in

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