Main Article Content
Abstract
The concept of work is changing on the key impact on the nature of work and GIG Economy is emerging as trend in the world economy. GIG Economy is also called as flex economy or mobile economy or open talent economy or freelance economy. It is considered as new paradigm of work. GIG Economy is the temporary work-force that works on the short term relationship between workers and companies. The GIG Economy benefits both the companies and workers with the geographical boundaries being no barrier. Companies hire workers without any fear of attrition. The system helps to lower the training overhead and saves office cost. The system allows to give personal time and also to have better network in and out of the organization. It is beneficial for the workers as they quote the price for their work or on the projects. The GIG system doesn’t restrict the talent by setting limitations such as working hours, the wage cost or remuneration, work pressure etc. When the company goes on traditional style their strategic vision may become obscure. Digitization, advancement in information technology, increased usage of internet is the reasons for the rise of GIG Economy.