How The Gig Economy Is Reshaping HR Functions In Organizations

Gig Economy

The HR sector has evolved remarkably and it has become technology-driven; and due to the digital transformation panning across all sectors, most HR practices have also become automated and transformative in nature. Even though the HR was slow to adapt to this digital evolution earlier, 2018 is said to be a very pivotal year for HR technology. Many organizations have invested heavily in digitization and innovation in HR. New entrants like the blockchain disruptors, AI infused tech companies and digital HR marketplaces are giving the established players a tough run for their money. Gig Economy is the magnum opus of a technology-driven HR, but do you know how it has helped in reshaping the HR practices? Let’s find out.

HR With A Fresh Outlook

The best way to stay ahead in this disruptive time is acting with agility and adaptability. The traditional work environment is changing as businesses are augmenting their internal capabilities by bringing in consultants or field experts on a contingent basis. This is why the HR sector in 2018 has a big chance to make a workplace transformation happen; one in which rejuvenated people practices and higher skilled based jobs are brought into existence.

  • The long-established organizations may need to reconsider their existing people practices; with the technology taking over and gig economy surfacing in the current work scenarios, business leaders and CEOs have to learn to engage better with the millennials. Millennials and other remote workers are more adept to push the boundaries and deliver efficiently on a project-to-project basis. Hence they make a very essential part of business transformational practices, learning to engage with them and retain their skills and productivity will serve the organizations with a greater advantage.
  • These organizations must also learn to redefine their higher skilled jobs and job roles, they must train their personnel according to their capabilities instead of training the personnel according to the project requirements.

Startups and SMEs need to not get transfixed on “one-for-all” HR personnel as they cannot cover all aspects of HR practices, for example – a recruiting person might not be fully aware of payrolls or compensation and benefits. The advantage of hiring people with custom solutions is that they know what to do and they know how to do it effectively. While it is not possible for them to hire field specialist in a full-time capacity, they can alternatively switch to freelancers and independent consultants.

  • All organizations, irrespective of their size or age, must engage in people analytics and HR automation. People analytics is a very important aspect of any and every organization that HRs have found the most difficult to track. But with the new machine learning technology and data keeping clouds, it has become much easier to track employee behaviour and contribution. HRs can now use people analytics to their best advantage and help their organizations transform better. Organizations can hire an independent people-analytics expert to fix their problem areas and reshape people strategy with the help of analytics.
  • Workplace diversity should no longer be a challenge for the HR leaders. With socially aligned practices, the HR leader can bring a fresher and richer perspective to the organization. It ultimately leads to uplifting the organization as well as everyone else in that organization.

The Future Of Work Is Flexible

There are some elements of rediscovery for the traditional organizations that can be traced only with the help of an expert, a business transformation coach or a mentor.

All in all, HR leaders are no longer playing the traditional roles. They have evolved into diversified fields of expertise; some of which many organizations didn’t even know existed in the HR industry. They are compliance and regulations expert, they are payroll geniuses, they help businesses with transformations and mentorship. They are spread across various tangents of the broad HR spectrum and one organization may not be able to hire them all on a full-time basis. But they surely can bring them into effect when the need strikes. And due to the boom of gig economy, we have now started to realize the essence of HR industry in a broader sense.

We at Noble House help organizations find the right HR experts for their contingent requirements. For more details about our services to the corporates, write to us at hello@noblehouse.asia

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