Hello Pooja,
Recently I was reading an article on 'gig economy' which I'm sure more or less matching to the job market presently seen in the country. With more and more rendered jobless whilst units resuming their operations with a view to achieve normalcy, the conditions akin to 'gig economy' seen it's prevalent in India. Especially in a situation that some units suffer having lost key personnel during lockdown for some reasons like non-payment of idle time salaries repositioning or refill the vacancies when resumed became a big challenge for such units. Gig economy more or loss is the answer to some of their/your problems atleast as a short term. Here I share the excerpts from the article for your information -
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"Leadership and executive pay
Employers across all sectors are already having to take difficult decisions relating to the future of their workforces and their salaries – and tech sector organisations are no exception. Whilst the impact is being felt across the wider workforce, attention is being focused at executive pay and how individuals leading organisations are being impacted financially by the crisis.
Impact on the gig economy
The status of employees, workers and independent contractors in the gig economy remains an ongoing issue across many jurisdictions, as courts and tribunals continue to grapple with the application of their existing legal frameworks. The crisis has intensified the call for gig economy workers to be provided with the same or equivalent safeguards and protections afforded to employees and other workers, including those relating to health and safety, as well as basic employment rights such as sick leave. Throughout 2020 and beyond, we continue to expect further developments, consultations and potential legislative reform – potentially posing some of the most significant changes to employment laws for some jurisdictions in recent times.
Impact for the tech sector
For many businesses, the pandemic has accelerated the adjustment to new ways of working and forced many companies to stress test their agile and remote working arrangements. Broadly, the tech sector has responded well to these changes, but those that were previously sceptical of such ways of working may have a harder time explaining why employees have to be present in the workplace when they can work remotely or flexibly.
New opportunities have also arisen for food delivery platforms, e-commerce sites, and those developing apps and new tech to assist jurisdictions with managing the pandemic. Crises also provide employers with an opportunity in terms of workplace culture, and how employers have reacted to the evolving pandemic and supported their workforces will impact their workplace culture in the long-term.
In this new and complex world of work, maintaining effective communication, driving resilience and adaptability, as well as sustaining employee engagement and trust, has become the ultimate test, and differentiator, of today's leadership. -
Laure de Panafieu Asia Head of Employment and Incentives, Partner, Singapore"
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