Jobs platform Indeed bets big on the ongoing trend of gig economy

Indeed, one of the biggest job portals in India, is betting big on the ongoing trend of gig economy. Not only the white-collar gig jobs, the company has in the past year seen an increase in listings for drivers, food delivery runners, and other service providers. 

“Indeed is all about democratising job opportunities for workers across segments from blue collar to white collar, public sector undertakings (PSUs), and gig jobs. In India, Delhi has the maximum demand and opportunity for gig jobs. The gig economy has been one of the most fascinating economic shifts in a long time in how it taps into the need for flexibility. Never before has there been the opportunity for so many people to choose how they want to work, and it has been very powerful. Gig economy is here to stay. The growth is amazing,” said Paul D’Arcy, senior vice-president, Indeed. 

He, however, pointed out that the most of the companies that are promoting gig economy are not profitable. “So, the entire sector is still funded by investors. Therefore, it will be interesting to see how that evolves to a permanent state,” D’Arcy said.

Traditionally, such jobs portals mostly list white-collar jobs, but Indeed is making an effort to list blue-collar and services-related jobs as well. It has seen a large number of companies who, while initially hired organically, are using the services of firms like Indeed. 

“We are working with some of the biggest companies in the country to help them hire quality, drivers, runners, plumbers, and carpenters. We help them hire the right kind of talent after doing all the proper verifications,” D’Arcy added.

Recent data from Indeed suggests that the Indian labour market is experiencing a shift towards gig economy, with an increasing number of workers seeking contractual or freelancing opportunities. 

“With recruiters rethinking their remote work programmes, 7.7 per cent of all companies’ postings on the Indeed platform in India offer flexible work opportunities. In addition, 2.8 per cent of all job postings on the site from India are for part-time or contractual roles. The leading sector in terms of job flexibility, as the data from Indeed indicates, is the service sector, with the role of examiner offering flexible work arrangements in 75.2 per cent of all job postings,” the study said.  Further, the data collected by Indeed between January 2013 and October 2017 indicates a seasonal trend in contractual hiring in the sector, where jobs of this nature increase towards the close of the year and remain relatively low at other times.

According to a recent study ‘Future of Work – Trends at Work and Workplace’ by Kronos Incorporated in association with the Society for Human Resource Management (SHRM), the top trends impacting workforce management include flexible working hours, gig employment, remote working, evolving job roles, enabling technologies, and automation. 

The report reveals that the gig economy has caught up with new age and traditional organisations alike. When it comes to contract or gig employment practised by 96 per cent of Indian companies, 66 per cent believed that it can increase productivity, and 61 per cent said it can improve compliance. While employers in the auto-ancillary industry voted this trend as the strongest disruptor (78 per cent), the general services and BFSI sectors followed the suit at 57 per cent and 50 per cent, respectively.