MANAGING GIG ECONOMY AT THE HUMAN RESOURCE LEVEL

Abstract

The present research study was done at Delhi School of Management, DTU, Delhi. The research area was based on Human Resource Management and the focus was on strategy formulation that could prove beneficial in handling the upcoming trend of gig economy. In the entire study, three major objectives were successfully achieved. The study was exploratory in nature and the data was collected through secondary sources such as Management journals, magazines and others. Extensive literature review was done in order to formulate the objectives of the study. As very less studies focused fully on the strategic HRM aspect in relation to gig economy, therefore, the present study was undertaken in order to delve deeper into the finer nuances of gig economy management at the Human Resource Level. As a first step, it was found that the current HR professionals are facing certain challenges with respect to handling of freelance workers. The current HR personnel needed to adopt more agile processes for handling this new wave. There were challenges of talent acquisition and training of freelancers. Therefore the importance of novel HRM skills was highlighted. Thus, the organizations need to go for a more tailored approach. Based on this analysis the objectives were successfully achieved. The first objective was to design the employee assessment and performance management strategies where it was suggested to formulate new employee evaluation criteria, use HR scorecard with big data and AI and also conducing psychometric assessments for gig workers. The second objective was to design recruitment and selection strategies where it was suggested to create employer brand for attracting freelancers, create alumni networks for gig workers for better collaboration and change the conventional job descriptions to skills based ones. The third objective was to design the training strategies for gig workers where it was formulated that companies should go for digital on-boarding, micro-learning and elearning, gamification, preparation of gig worker training on the basis of tasks and preparing personalized content for freelancer workers.