Question

Information: With the dramatic change of the global workforce it changing the dynamics of the corporate work environment. Similarly as quick globalization in the late twentieth century caused a sensational move in worldwide supply chains, the ascent of the gig economy is changing work as we once knew it. It is important to still be able to manage employee turnover although the employees may not be actual employees. This new idea of the gig economy poses evident organizational difficulties, yet in addition gives the chance to HR to include value. For example, conventional perspectives on career advancement, reward and acknowledgment, and ability and progression the executives could all be ready for change. Some describe the impact that the gig economy has on leadership culture as a move from a command and control culture to one of cooperation, association and coaching.

Question: The issue of managing employee turnover is one of the central HR issues for most organizations. In the years past, it was not uncommon for workers to retire from their first job. In last twenty years it has become increasingly common for workers to have multiple jobs or “careers.”  

As the “gig” economy (think Uber, Lyft, TaskRabbit, contract based temp work, etc.) becomes more common, the employee-employer relationship will become even more transient. Would managing employee turnover even be an issue then? As HR professionals (or contract HR professionals, if you are doing this as a gig), can strategies that we use for managing employee turnover be applied in gig economy organizations? If yes, how would they apply in absence of an employee? If not, what other strategies organizations may need to manage their workforce?

Please write at least a 250 words post supporting your position.

Provide at least one external reference supporting your arguments. Please don't copy from anywhere and write appropriate answers. Thank You!

Answer 1

Gig economy means people working as a temporary employ or as a freelancer. The employees are not the permanent once. Gig economy attract the employees as they can work according to their flexibility and work arrangements. Still the employee turnover is an issue off course because due to the flexibility and the competition in the market the employee will shift as soon as he/she will get a better offer.

So the strategies used for managing employee turnover can be applied in gig economy till some extent with some modifications in it. The strategies which can be used are as following:-

• Giving competitive advantage is very important to any kind of employee. Our firm have to stand out from the other to retain the employees.
• In gig economy, the employee is connected with the firm for a shorter duration so it is very important to give then the feeling of belongingness to make them comfortable.
• As firm provide training and development facilities to the permanent worker, these facilities should also be provided to the temporary or contract workers.
• It is very important to listen to the workers, because their feedback is equally important as the customers.
• Be clear with the communication, there should be no misunderstanding between firm and its employees. The duties and responsibilities should be clear.

Uber is the leader of the gig economy. Uber had made its workers as its customers. It have made all new environment for the workers. The workers receive the order whenever they want, there is no fixed working hours. They are self employed.

So gig economy is a strong economy which benefits both, the organization as well as the employee.