• A report by TeamLease Edtech highlights a skill gap among gig economy workers, with 42.86% lacking industry knowledge.
• Soft skills are also identified as a significant deficit among gig workers, with 28.57% of employers citing this as an issue.
• The report suggests on-the-job training and online courses as effective methods for gig workers to upskill.
• As the gig economy evolves, the report emphasizes the need for continuous learning and adaptation for workers to stay competitive.

The gig economy, a labor market characterized by the prevalence of short-term contracts or freelance work, has been a game-changer in the employment landscape. It has introduced a level of flexibility that aligns with modern work preferences.

However, a recent report by TeamLease Edtech, a leading workforce management company, has highlighted a persistent skill gap among gig economy workers. The report emphasizes the need for these workers to develop industry-specific knowledge to remain competitive.

According to the report, 42.86% of gig workers lack industry knowledge, which is identified as the primary skill deficit. While these workers are often technically adept, the absence of domain expertise can hinder their efficiency and effectiveness. This finding underscores the importance of industry-specific knowledge in the gig economy, where workers are expected to be versatile and adaptable.

In addition to industry knowledge, the report also identified soft skills as a critical gap among gig workers. Approximately 28.57% of employers cited soft skills, including communication, teamwork, and problem-solving, as another significant deficit. These skills are essential for gig workers, who frequently manage multiple clients and projects simultaneously.

Upskilling: A Necessity in the Gig Economy

Shantanu Rooj, Founder and CEO of TeamLease EdTech, commented on the findings, stating, "The gig economy has fundamentally altered the employment landscape. It is reshaping how we work by introducing a level of flexibility that aligns with modern work preferences. However, with this shift comes the need for continuous upskilling."

The report comes at a time when demand for gig workers is set to surge, especially in the upcoming festive season. Employers plan to hire 1 million gig workers and 250,000 contractual workers across sectors, with e-commerce leading the charge.

Companies like Uber, Ola, Swiggy, and Zomato are offering significant opportunities, reflecting the shifting labor market accelerated by the pandemic, which has driven both workers and businesses to seek flexible work arrangements.

To bridge the skill gaps, the report identified the top ways for gig workers to upskill. According to the data, on-the-job training (76.19%) and online courses (73.81%) are the most effective methods.

The Future of Gig Economy

These options provide gig workers with practical experience and the flexibility to learn while they work. By honing both industry-specific knowledge and soft skills, gig workers can significantly enhance their employability and efficiency in delivering quality results.

Historically, the gig economy has seen a rapid rise in recent years, fueled by technological advancements and changing work preferences. However, the skill gap among gig workers has been a persistent issue. This report by TeamLease EdTech is a timely reminder of the need for continuous upskilling in the gig economy.

Though the gig economy offers numerous opportunities for workers and businesses alike, to fully leverage these opportunities, gig workers must continuously upskill and develop both industry-specific knowledge and soft skills. As the gig economy continues to evolve, the need for continuous learning and adaptation becomes even more critical.