Not only has the gig economy made its way to India but it is also gradually on the rise. Sectors such as IT, hospitality and ecommerce, along with startups, are embracing flex jobs as it allows them to be cost-effective and agile. Approximately 8% of the formal workforce in India is comprised of flex employees.
But along with the advantages, flex employment poses some challenges as well. One such challenge facing employers is engaging and retaining their contingent workforce. The very idea of ‘flexibility’ that drives flex employees tends to hinder any expectations of loyalty from them. But to stay competitive, organizations need to figure out ways to earn the loyalty of their temp workers. Here are a few ways to achieve that.
Advanced technological solutions
One of the factors that attracts millennials to an organization is its ability to leverage the latest technology. According to a study by Microsoft, 93% of millennials say they would prefer to work for a company that is abreast with the latest technology and solutions. Providing next-gen communication and mobility solutions to help employees collaborate and work from any location can be a critical differentiator. Bottom line: an innovative, futuristic workplace is fundamental to attracting the new-age workforce.
Employees’ job engagement and job satisfaction is usually a factor of their relationship with their managers. Insights from a Gallup study show that 70% variance in job engagement can be accounted to the manager. This relationship dynamic assumes even more importance in the flex employment scenario. An Intelligence Group Studies survey indicates that about 72% of millennials want to be their own boss. It also showed that if the respondents needed to work with a boss, then about 79% of them would want it to be more like a ‘mentor-mentee’ relationship. Clearly, employees looking for flexibility also look for independence in terms of work. It is crucial that they are provided with an independent ground to perform and offered guidance only where needed.
Flexibility to craft their roles
When you say ‘flex job’ – mean it. The entire premise of a gig economy is based on flexibility and independence to explore newer opportunities. Employees are looking to try their talent and skills at various jobs in order to design their own careers. 88% of millennials prefer ‘work-life integration’ over work-life balance. In essence, they are seeking to align their talent and personal aspirations with their careers. Jobs mean more than an opportunity to gain financial independence to this new generation of employees and organizations must offer customizable job roles to make the best possible person-job fits.
57% of employees say benefits are very important when it comes to making their decision about a job. One thing that might deter employees from staying loyal to their organization is untimely payments – a factor that is even more relevant in the case of flex employment. Temp employees tend to deal with low job security and prefer working with a company that secures them financially for the agreed upon tenure. Providing such security helps increase the chances of earning their loyalty.
Flex employees look for jobs that offer an open ground for growth and development along with a sense of independence. Along with flexibility - their top priority - they also want collaboration, communication and guidance to keep them motivated. Organizations that effectively cater to these demands will garner the most loyalty and productivity from flex employees, maximizing what they have to offer.