In age of gig work, leaders should learn to manage the workforce effectively

economictimes.indiatimes.com:

Gig workers may not think or act like full-time employees, and corporate leadership must understand the needs and aspirations of these temporary workers to manage the workforce better. Companies usually hire gig workers to handle a spurt in business — like food aggregators hiring temporary delivery personnel during festival seasons — which has a direct impact on revenue. So managing this workforce is extremely important for a business, even if it is only for a short duration.

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Ankit Aggarwal, Founder & CEO, Unstop, says, “Effectively managing a gig workforce requires a unique set of skills. To succeed, leaders must integrate traditional leadership principles with an understanding of the distinctive dynamics of the gig economy.”

A recent report by Entitled Solutions and BFA Global gives some understanding of the participants in this economy. The study focussed on the financial well-being of low-income workers in India, with a specific emphasis on gig economy participants such as delivery riders, cab and auto drivers. The analysis resulted in the identification of three distinct groups, each requiring targeted interventions for improved financial well-being.
The first group comprised delivery drivers and high earners who can cover their financial needs, have debt and cushion, but also deal with stress. The second group consisted of delivery drivers who suffer or have suffered from financial hardships but still believe they have control over their financial situation. The