Labor Day: How technology, automation, and gig economy are reshaping workplaces

Technology advancements, automation, and the gig economy are transforming the nature of business and the workplace. They are able to carry out more of the tasks done by human beings, and even perform some duties that humans cannot. Hence, it will lead to various changes in some occupations. Companies need to adapt the modern technology in workplaces to remain competitive in the market. 

As Labor Day or International Workers’ Day will be here in less than a couple of days, Livemint interacted with the founders or CEOs of some organizations about how technological advancements, automation, and the gig economy are reshaping the workplace and what companies can do to adapt and remain competitive. 

1) Shilpa Jain, CEO of BeGig

As technology continues to evolve rapidly, traditional work cultures and trends are slowly becoming obsolete. With automation increasingly being implemented, certain job roles are becoming redundant and the gig economy is giving rise to a new wave of tech professionals taking up freelancing and building on niche skills, she said. 

BeGig CEO suggested that companies need to embrace these changes and adapt to the new reality to remain competitive in the market. 

“They can do this by investing in technology that streamlines their operations and by providing training and upskilling opportunities to their employees. They also need to foster a culture of innovation and experimentation, where new ideas and approaches are welcomed and encouraged. In my experience, companies can benefit greatly by working with specialized tech freelancers without any long-term commitment,” Jain added. 

2) Shreya Sharma, Founder of Rest The Case

She said that changes and shifts in trends, and cultures majorly affect how organizations function and hence it is extremely important for companies to be ready for such changes and devise strategies that allow companies to position themselves for success in the rapidly evolving workplace of the future.

“Artificial Intelligence has led to the automation of many tasks that were previously performed by humans. The key here for employers is to upskill and reskill their employees,” Sharma said. 

Speaking about the gig economy and remote work, she said that people are now opting to take up freelance jobs and task-based projects rather than full-time jobs. The Covid-19 pandemic also brought in the trend of remote work. However, this then requires companies to find new approaches to communication, collaboration, and management to ensure that remote workers feel connected and engaged with the company culture. 

3) Anand Bhushan, CEO of EasyRecruit+ and EduCrack Pvt Ltd

“The rapid technological progress is showcasing what automation and machines can do for the future of work and is reshaping the work environment with positive changes to provide value for businesses, contribute more to economic growth and make once unimaginable progress a reality,” Bhushan said. 

According to the CEO of EasyRecruit+, the skill sets required are changing meaning workers need to be flexible and adaptable to remain competitive.

“This is also giving rise to the ‘Gig Economy’ with specialized skills, short-term contracts, or freelancing, facilitated by the internet, creating a situation where the young workforce does what it loves and is skilled for without being plagued by financial insecurities,” he added. 

4) Shashank Sharma, Co-Founder and Director of Scoreme Solutions Pvt Ltd

“Companies must embrace Clayton Christensen’s theory of disruptive innovation to stay competitive, particularly in the gig economy, where disruptive technologies have enabled new business models to emerge and create significant competitive pressure,” Sharma said. 

“Investing in continuous learning, prioritizing customer experience, and building a diverse workforce may seem like obvious choices, but they are crucial for companies to remain competitive in today’s ever-evolving business landscape. It’s like the classic saying goes, “If you’re not growing, you’re dying”,” he added. 

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