6) The lack of guarantee of a stable income with social security has devastating consequences, critically analyse the statement in the context of concept of Gig economy.(250 words)

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Topic :  Issues relating to development and management of Social Sector/Services relating to Human Resources..

6) The lack of guarantee of a stable income with social security has devastating consequences, critically analyse the statement in the context of concept of Gig economy.(250 words)

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Why this question:

The article captures the menace of lack of stable income in Indian employment scenario. It discusses the relevance of Gig economy and how it has turned into an eyewash bearing to the lack of social security and guarantee of the income to individuals.

Key demand of the question:

The answer must explain the meaning, opportunities and challenges provided by a new trend in the job market – gig economy.  How in today’s digital age it is gaining popularity , but however there is much to understand about its relevance in providing Job security and stability.

Directive word:

Critically analyzeWhen asked to analyze, you  have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary. When ‘critically’ is suffixed or prefixed to a directive, one needs to look at the good and bad of the topic and give a fair judgement.

Structure of the answer:

Introduction:

Introduce with what you understand by a Gig economy.

Body:

  • What is ‘Gig Economy’? – A gig economy is a work environment where organizations hire temporary workers or freelancers instead of full-time long-term employees.
  • Discuss how the trend is very strong in advanced economies like the US where there is large volume of cases where firms engages in short term contracts with workers.
  • Then move on to discuss the demerits of Gig economy in Indian Job scenario – Low job-security, Worker’s welfare compromised, Internet dependent thus requires only skilled labour, Security issues etc.
  • Discuss what needs to be done to provide security and sustainable Jobs, what should be the policy focus in the employment sector.

Conclusion:

Conclude with importance of tackling such issues with effective policy measures.