The dynamics of work place and workforce has changed dramatically.Work is being disrupted as never before in the rapidly changing landscape.Employees have been seeking the ideal workplace which caters for perfect balance and integration of work into life.Not only they are looking for inbuilt flexibility in working conditions but a job that meets their aspiration “What’s in it for me?” Work trends that hog the headlines include “moonlighting” “quiet quitting” are not new but gathering momentum in their new avtaar. Higher attrition rates,withdrawal rates of candidates not joining alongwith talents crunch continue to be perennial problems that plague the job market.
It is also indeed paradoxical the “great resignation” witnessed in the beginning of 2022 and the hiring binge in a red hot talent market in the post pandemic era has given way to layoffs spree which is spreading its tentacles beyond Startups and technology sectors.Facing the existing volatility and economic pressures, employers have resorted to cost cutting measures as part of a rebalancing act.They are now not only handing over pink slips to its employees but also have taken stringent measures such as hiring freezes, hiring slow down and even withdrawal of offer letters.This hire and fire policy which is likely to continue has adversely impacted the future career prospects of existing employees who remain stuck in their current jobs out of necessity. The job market gets also further squeezed and impacts the future of several thousand employees.While layoffs are not a stigma in the current market scenario, it undoubtedly causes a major disruption in an employees’s rhythm of life.
What should employees do in the circumstances? Of course a regular job is an obvious default option and the best one for a professional to get started and continue. Career cushioning is now a trend to where employees in anticipation of getting laid off keep their options open with Plan B in case of job loss.This implies an employee has to ensure not only his resume is updated,he builds a strong professional network with potential employers and colleagues but also he continuously learns and upgrade his skills and knowledge and continue to explore opportunities even if it means diversifying in different domains. Most employees within a period 3-4 months are likely to manage to find alternative jobs so long as employees are more flexible with the options available as the talent with right skill set is still a scarce commodity.
However given the current world of uncertainty it is still not necessary that the best job will fructify and can be taken for granted. The volatility in the employment market is likely to continue.It is therefore increasingly important to shift focus from regular jobs and explore possibilities in the rapidly growing “gig” workforce.More and more companies now prefer to hire employees on project/assignment basis outside the the traditional employment scope.
Gig economy is one of the most pivotal economic shifts and in all likelihood the future workforce will be a blended model and integral to the future of job growth in time .What does this imply? Being a gig worker gives an employee an opportunity to blend what he is good at, what he enjoys doing and what is needed in the market place. Whether he is an IT guy or an architect,an HR professional,an accountant or teacher or a technocrat innumerable opportunities can come his way to become a service provider,consultant, a gig worker to multiple employers. Of course it is not easy and one has to take small, baby steps to build the portfolio of projects an employee would have with him.
What are the advantages of being a gig worker?
- Flexibility to work and stretch to the extent an employee wants
- To be one’s own boss
- To integrate work into life
- To calibrate his earning capacity.
- Richness of exposure and experience while working with multiple clients
Moreover, the mindset shift is not overnight nor do projects start raining on day one.It is certainly an uphill task and would require a fair degree of tenacity,perserverance and resilience to establish an identity as a “gig worker” .It also requires a fair deal of soul searching on part of an employee to rediscover what he wants to do.But is there ever any gain without risk,hardwork and pain? Getting laid off from regular jobs is also a harsh reality that cannot be ruled out. Control on one’s own life buttons at least gives a fair idea of where one is heading and what needs to be done combined with enough flexibility to weave in other interests, fun and family for a balanced life.It is therefore worthwhile to explore all options available while charting career opportunities in the VUCA world.