According to a Michael & Susan Dell Foundation report, the Indian Gig Economy is expected to triple in the next 2-3 years to 24 Million vs 8 Million today. Another report, by Fortunately, suggests that by 2023, 52% of the US workforce will either be gig economy workers or independent workers. What’s more, 48% of millennials use gig job platforms to find work or engage in business with clients.
As more tech-enabled companies move to gig hiring, and as a result of job losses by COVID-19 pandemic induced job losses, the change is snowballing in 2021. The Indian gig economy is still at a nascent stage, And, not just freshers, but even experienced workforce is moving to niche, flexible, better-paid and productive working roles. The effect only comes into play when companies shift their top-level management from full time to gig roles.
Hiring in gig roles is beneficial for individuals, as well as the companies hiring them. It ranges from reduced salary, allowances, and employee benefits’ expenditure for hiring a specialist to diversity and multitude connection for a company. For years now, we have understood the gig economy as limited side hustling or a part-time job to help with pocket-money-like income. In fact, gig roles are mostly understood in the form of content creators, or across mobility function, i.e., in beginners’ role.
With the rise of technology in every field, the definition of gig roles is changing and companies are looking to hire freelance option even in senior roles. But the availability of domain experts, pricing of gig services and pricing models have become a talking point among recruiters.
For reference, we have listed down 7 rare top-level management jobs from the Gig Economy in 2021.
1. Web Content Accessibility Guidelines (WCAG) Expert
Description: The Web Content Accessibility Guidelines, or WCAG, are a series of web accessibility guidelines published by the Web Accessibility Initiative (WAI) in the United States. An expert in WCAG looks after accessibility validation for website owners and mobile app operators. He/she audits the website or the app, identifies issues through quality assurance testing and then suggests potential solutions for accessibility barriers. According to the law in the US, every company needs to provide a WCAG certificate.
The skill is scarce and the demand high. Plus, after the company receives a WCAG certificate, it is costly to keep a full-time accessibility expert. Thus, CoHiring a WCAG Expert in a gig role has proven a rare top-level job in the gig economy.
2. AI Expert
Description: Artificial Intelligence is changing the way businesses now operate. Thus, it is useful for every company to have an AI Expert on board. An AI expert trains machines to learn from experience. Some activities programmed with the use of AI include fingerprints and voice recognition, problem-solving, automation and most importantly, recognising information and interpreting it according to needs.
But, again, the skills are scarce and hiring a full-time AI Expert, is an expensive activity. But, in gig roles, companies have been hiring AI Experts vis-à-vis Engineers, PhD Scholars, Data Scientists, AI Developers and Researchers.
3. Digital Transformation Expert
Description: The shift of businesses to online has led to a rapid disruption in the industry. For a company to move ahead with “online”, it needs to learn the correct use of digital tools to better serve customers. Working across all the marketing essentials – People, Price, Place and Product, Digital Transformation for a company comes at a heavy price.
If you add a full-time Digital Transformation Expert in the loop, the company, although will have increased revenue, a large consumer base, etc, will face a great financial setback. Thus, hiring a Digital Transformation Expert in a gig role, and treating the activity like a project has become the general call.
4. Investment Banking Expert
Description: An Investment Banker is a number cruncher who handles high-end financial activities for an institution, like raising capital, leading M&As, preparing for an IPO; basically, aligning legality, risk factors and profitability with a company’s financial needs. Currently, most companies are hiring an investment bank – the likes of Goldman Sachs, JPMorgan Chase as an investment banker.
Now, for a company, what will be a better option – 1. Hire a bank or 2. Hire an individual investment banker? The question has been subject to a lot of debates and there is no one correct answer, or is there?
The idea of an Investment Banker Expert, who has 10-15 years of experience, is interestingly becoming a topic to help disengage the debate in question. This high paying job, or from a company’s point-of-view – a high costing job, has become a gig skill in 2021.
5. Quality Management Systems (QMS) & Process Expert
Description: Nowadays, many organizations have to obtain an ISO , GDPR or CMMI certification. This International Standard promotes this, to enhance customer satisfaction by meeting customer requirements. A QMS Expert develops, implements and improves the effectiveness of a Quality & Risk Management System (QMS) for an organisation.
The process to obtain an ISO , GDPR or CMMI is already time and cost consuming. A QMS expert even more so. Thus, companies are retorting to experienced leaders to help in the initial stage of the certification process, the document management and auditing the company for Quality Assurance. Finding a QMS Expert is rare, and only a handful of them are available for gig roles.
6. Digital Marketing Expert
Description: A Digital marketing Specialist uses online advertising and digital content strategies to identify the target market, create brand identity, and conduct online marketing campaigns. He/she can be a part of the marketing team in a company or work with an advertising agency. A Digital Marketing Expert differs from a Digital Transformation Expert. The latter takes the business online and the former helps the online business to reach a large consumer base.
Digital marketing skills are not exactly scarce, but finding a senior-level expert is difficult. You can’t possibly hire a ‘Neil Patel’, but to remain competitive and relevant, a Digital Marketing Expert in a gig role, at the top-level of your company will help you keep up with the latest consumer trends (or like Zomato, Swiggy and Dunzo, create trends).
7. B2B Technology – Sales expert
Description:B2B Sales expert is responsible for all the activities that lead to a sale. His/her major KRAs include creating a scalable sales process , training sales executives, managing logs and leads, maintaining a healthy relationship with existing customers . The expert is also responsible for developing a sales strategy consistent with marketing activities and the budget of the company.
Creating a sales plan i.e., an action plan in line with available resources helps a company hit its set targets, which admittedly is one of the most important activities to keep a business running. A B2B Sales expert on board will empower the company to higher revenue & profitability. Thus, hiring an expert B2B Sales expert, in a gig role, and making them a part of the top-level management is a win-win for the company as well as the expert
Looking to hire an expert in a gig role? You can now hire a CxO to mitigate specific pain points in your business as a project. COHIRE makes this possible.
