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Rising of Gig Economy: Nine-To-Five Jobs Will Be Obsolete

The gig economy is poised to transform modern work dynamics, where flexibility meets opportunity in a digital marketplace

Amit Sharma, the dynamic MD at the helm of Big Ideas HR Consulting Pvt. Ltd., spearheads India’s foremost equal partnership-driven recruitment and HR consulting firm and champion of the gig economy paradigm. With a multifaceted career, he stands as a testament to entrepreneurial prowess and industry expertise. Beyond his role as a seasoned entrepreneur, Sharma stands as a luminary in the recruitment sector. He is a mentor in business and life coaching, an advocate for social change, and a published author. Moreover, he is a discerning angel investor in several ventures. These include Big Ideas HR Consulting, Big Ideas Social Media Recruitment, BSM Big Social Media, and Big Leadership Hiring.

His visionary leadership has propelled his companies to dominate the Indian market and establish a formidable global footprint. Their operations extend to the United Kingdom and Canada. At the heart of Sharma’s business philosophy also lies the groundbreaking “Equal Partnership” model. This model, moreover, challenges traditional hierarchies by empowering each employee as a partner. This innovative approach has also ignited a paradigm shift in the Indian business landscape, fostering a culture of collaboration and ownership.

In an exclusive dialogue with The Interview World, Amit Sharma provides profound insights into the evolving dynamics of the HR industry, the transformative impact of emerging technologies on HR practices, the evolving landscape of global and Indian HR outsourcing, and the burgeoning phenomenon of the gig economy. His astute observations and strategic foresight illuminate the path forward for industry professionals navigating the complexities of a rapidly changing world.

Q: What sets Big Ideas HR Consulting apart from other HR consulting firms?

A: Big Ideas sets itself apart in the realm of HR consulting through its pioneering “equal partnership model”. It’s a breakthrough approach that fosters entrepreneurial development within organizations, steering away from the conventional employee-centric mindset. Furthermore, its distinctive work culture, centered around clients and people, offers unparalleled flexibility and support for personal and professional growth. Here, employees find themselves in an environment where collaboration thrives, and employers value individual contributions. Unlike other HR consulting firms, Big Ideas goes beyond traditional methods. It actively engages with clients to co-create innovative leadership models tailored to each enterprise’s unique needs. This approach ensures sustainable success in today’s dynamic business landscape.

Q: How has your company adapted to the increasing role of technology in the HR department?

A: At Big Ideas, our unwavering commitment lies in advocating for forward-thinking, technology-infused work methodologies, with a steadfast dedication to refining our online business model. We recognize the transformative potential of emerging technologies like Cloud, AI, RPA, and Blockchain. These emerging technologies can reshape the HR value chain by elevating decision-making processes with intelligent insights. The rapid adoption of these technologies underscores our proactive stance in leveraging innovation to fortify our competitive position within the industry.

Q: How is HR outsourcing expected to evolve within the Indian market?

A: HR Outsourcing has surged in popularity among companies striving to concentrate on their core expertise while delegating support functions. Services such as Recruitment, Payroll, Learning & Development, and Training have recently joined the outsourcing trend, enhancing efficiency and resource allocation. A recent report highlights the remarkable growth of the global human resource outsourcing market, which reached a valuation of USD 34,590 million in 2021 and has the potential to soar to USD 52,941.67 million by 2031, with a robust CAGR of 4.3% during the forecast period.

In India, the human resource outsourcing (HRO) market was valued at USD 94.36 million in 2022, indicating substantial potential for growth. Projections for the period between 2023 and 2029 suggest a staggering CAGR of 25.09%, culminating in a market value of USD 361.45 million by 2029. This growth is primarily fuelled by the burgeoning preference of small businesses for outsourcing services. By outsourcing HR tasks, these businesses can effectively streamline operations, optimize resources, and focus on their core competencies. Subsequently, it can foster sustained growth and competitiveness in the market.

Q: How do you envision your goals and aspirations shaping your path over the next five years?

A: Big Ideas is confidently progressing towards the target of establishing a Rs. 15 crore Recruitment Company, emphasizing social media and CXO recruitment. Simultaneously, we are mobilizing a robust network of entrepreneurs and partners, poised to amplify our growth trajectory and solidify our presence in the industry.

Q: How does the emergence of the gig economy in India impact the necessity and function of a structured HR system?

A: The gig economy presents a multifaceted challenge to current business models and processes, potentially reshaping them in various ways. Specifically, gig economy offers opportunities for individuals with specialized skills. As the gig economy continues to grow, HR’s focus will shift towards developing tools that streamline talent management across all organizational roles, while also optimizing overall effectiveness and structure.

This evolution in HR’s role introduces a heightened level of complexity. Unlike traditional HR practices where expertise functions are typically tied to individual employees, the gig economy demands a deeper and more diverse pool of domain expertise.

Individual reliance will become a thing of the past. Skill development will also emerge as the primary determinant for role assignment and fulfilment. The traditional nine-to-five job structure will subsequently fade into obsolescence in gig economy model. Eventually, it will give way to a project-centric and time-driven approach within enterprises.

Tasks will also become more finely delineated according to the specific skills required. A comprehensive analysis, focusing on cost, time, and quality, will underpin all decision-making processes, leading to optimized outcomes. This model, ripe for algorithmizing, can benefit from the application of Operations Research and Optimization Theory.

Gig Economy Reshaping Traditional Employment Structures
Gig Economy Reshaping Traditional Employment Structures
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