BENGALURU: With a 184% increase compared to the previous year, white-collar gig jobs have experienced a significant growth in March 2024. This surge indicates growing preference for flexible, project-based work arrangements, says talent platform foundit in its recent report.
The IT sector is at the forefront of this gig boom. The share of IT software in the gig economy has nearly doubled, jumping from 22% in March 2023 to 46% in March 2024. This indicates a strong demand for skilled freelance coders, IT consultants, and other tech professionals. Advertising and marketing also witnessed significant growth, with the share of gig jobs increasing from 5% to 18% over the past year. The foundit Insights Tracker (fit) also said that the overall hiring index increased by 3% from February to March 2024, indicating a slight uptick in hiring activity. However, compared to the previous year, hiring declined by 4%.
Interestingly, content creator and trainer roles saw notable growth as well, with their shares jumping from 9% to 17% and from 11% to 15%, respectively. As far as hiring locations are concerned, Delhi/NCR emerges as the top destination, with a 23% share of jobs in March 2024. Mumbai and Bengaluru follow closely behind, each accounting for a 17% share.
The tracker reveals that about 21% of gig workers earn between Rs 10 and 15 lakh. In contrast, the Rs 3-6 lakh salary range comprises about 25% of gig workers, indicating a sizable segment engaged in entry-level positions. Also, only 11% of gig workers fall within the Rs 15-25 lakh salary range.
Sekhar Garisa, CEO, foundit (previously Monster APAC & ME), a Quess company, said, “One of the biggest learnings of the pandemic for employers as well as the employees has been the adoption of WFH and flexible models of working. Through our tracker, we have noticed that the metro cities of Delhi, Bengaluru, and Mumbai are paving the way for gig jobs as of now.”
“It is imperative to understand that the gig economy offers businesses a cost-effective solution, while also providing freedom to work from anywhere to employees. We expect the gig economy to grow even more in the next few months, so it’s prudent for job seekers to equip themselves with relevant skills that will make them stand out in a competitive market,” he added.