The Rise of The Gig Economy and Its Implications for Business Management in India

  • Unique Paper ID: 166763
  • Volume: 11
  • Issue: 2
  • PageNo: 1893-1899
  • Abstract:
  • In-depth research investigates the phenomenal growth of India's gig economy, exploring its profound implications for business management. A diverse group of 75 respondents, including business leaders, HR managers, and gig workers, participated in a survey that sheds light on the gig economy's size, growth, trends, and impact on various business functions. Using advanced statistical analysis, including descriptive statistics and t-tests, the study reveals the key drivers behind the gig economy's rapid ascent in India, namely technological advancements and demographic shifts. However, the findings also expose the obstacles that Indian businesses face in managing this new and dynamic workforce, including difficulties in retaining top talent, planning for workforce needs, and measuring performance. To overcome these hurdles, the study stresses the importance of leveraging digital platforms and tools, as well as implementing strategies such as flexible work arrangements, competitive pay, and training initiatives. By adopting these approaches, Indian businesses can successfully adapt to the gig economy and unlock its full potential. Ultimately, this study provides a rich understanding of the gig economy's effects on business management in India, offering practical guidance for businesses to flourish in this rapidly changing environment.

Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 2
  • PageNo: 1893-1899

The Rise of The Gig Economy and Its Implications for Business Management in India

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