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Reports

Professional Gig Economy - 2019-20 report

COVID-19 accelerated the professional gig economy, with Q2 showing a surge in demand as firms sought flexible, expert talent amid economic uncertainty. Flexing It's report highlights 2019–20 sector trends and includes a new section on COVID-19’s impact.

Published by: Flexing It
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How the Professional Gig Economy fared in 2019-20

  • The professional gig economy in India continues to be powered by demand for skilled consultants, growing at a CAGR of 30%+ over the last few years; In fact, Flexing It saw a 4X growth in the value of projects facilitated through its platform in 2019-20 compared to the prior year.
  • Large corporates and enterprises are driving demand with 75% growth over the prior year as they deepen how they engage with top-tier independent & flexible talent.
  • Consulting, FMCG and Pharmaceuticals/Healthcare emerged as the top 3 industries using skilled freelancers, accounting for more than half the assignments in 2019-20.
  • Strategy followed by Marketing & Technology are the top 3 skills in demand (50% of the projects) with use cases focused on driving growth and digitisation.
  • More than a third of the projects had a remote component – even pre-COVID – signalling a growing comfort by companies to leverage flexible work practices.

How leading sectors & organisations are leveraging independent talent – a growing strategic focus & distinct trends

  • For Consulting firms, independent talent offers access to deep expertise, on demand; 45% of the assignments utilized domain experts with 10-15+ years of experience.
  • Large pharma & healthcare firms have embraced flexible talent with the top 2 skills in demand being strategy and manufacturing/operations.
  • FMCG companies are seamlessly integrating freelancers into how they operate – leveraging ‘doers’ in core business areas such as marketing and supply chain to drive implementation; 86% of these ‘doers’ have <10 years of experience.
  • The Development/non-profit sector was an early adopter of using freelance experts on mission critical work, and it continues to offer maximum flexibility with sharply defined project work (2/3rds of projects are for less than 3 months).

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