Insightful Session on the Evolving Gig Economy
ISBR Business School recently hosted an enlightening session focused on the future landscape of the gig economy, featuring seasoned industry experts Ms. Bhawana Srivastava and Mr. Prosenjit Mukherjee. Both speakers brought their deep experience in human resources and gig economy trends to educate students on how this dynamic sector is expected to transform by 2047.
Meet the Experts
Ms. Bhawana Srivastava, GM HR & Operation ( Head ), Dr. Shikha’s OneHealth.
She is a respected HR leader with a background in the health, wellness, and fitness industry, skilled in talent management, business development, and employee engagement. Her expertise in fostering strong work environments has made her a valuable resource for students aspiring to succeed in modern workforces.
Mr. Prosenjit Mukherjee, CHRO, SRKay Consulting Group.
He brings years of experience in human capital management across complex regulatory landscapes. Known for his strategic approach to employee engagement and performance, he has been recognized for his company’s consistent high rankings, showcasing his visionary leadership and commitment to organizational growth.
Insights and Reflections from the Session
The session opened with welcoming remarks from ISBR’s HR team, after which Ms. Bhawana Srivastava began her discussion. She emphasized the foundational role of health in a successful career, advocating for wellness as the basis for professional growth. Highlighting Ayurveda’s relevance in Indian healthcare, she shared her seven principles for personal and career success:
- Self-Discovery – Knowing oneself is key to finding the right path.
- Strengths Awareness – Building on strengths fosters growth.
- Holistic Health – Physical and emotional wellness fuel sustained success.
- Discipline – Staying focused is critical for achieving goals.
- Continuous Learning and Courage – Embracing new ideas supports career progress.
- Resilience – Overcoming obstacles builds long-term success.
- Stress Management – Strategies to handle stress are essential in any career.
Following her, Mr. Prosenjit Mukherjee explored the future of the gig economy, noting how the COVID-19 pandemic accelerated its growth and prompted a shift towards entrepreneurial thinking among youth. His discussion covered emerging trends and projections for the gig workforce in 2047.
Predictions for the Gig Economy in 2047
Mr. Mukherjee highlighted major transformations anticipated in the gig economy by 2047, including shifts in workforce demographics, the impact of automation, and economic contributions. Key points included:
- Age Demographics – Gig work will primarily attract individuals aged 25-45, with younger people (18-25) increasingly engaging as a main or supplementary income source.
- Gender Representation – Women’s participation in gig work is expected to rise to 45%, driven by the flexibility and remote options offered by gig jobs.
- AI and Automation – By 2047, approximately 30% of gig roles, especially in data entry and customer service, may be automated, allowing workers to focus on more skilled tasks.
- Specialized Platforms – Gig platforms will evolve, with industry-specific options emerging for healthcare, legal services, and more.
- Economic Impact – The gig economy’s contribution to GDP may reach 15-20% in major economies, underscoring its growing significance.
- Tax Revenue – Gig work could account for 5-7% of total tax revenue in developed nations, reflecting the sector’s financial impact.
- Job Security and Benefits – Around 70% of gig workers may lack traditional benefits like health insurance and retirement plans, prompting a need for new support structures.
- Global Labor Standards – International labor organizations are expected to establish minimum wage guidelines, worker rights, and benefits for gig workers globally.
- Legal Protections – By 2047, 60% of countries may have robust legal frameworks to ensure fair treatment and support for gig workers.
- Work-Life Balance – Approximately 55% of gig workers value the flexibility of gig work, helping them achieve a balanced life.
- Income Inequality – With the top 10% of gig workers earning significantly more than the majority, equitable policies will be crucial to addressing this gap.
Final Thoughts
This session offered a comprehensive glimpse into the gig economy’s potential trajectory, encouraging ISBR students to think critically about the future workforce. Both speakers emphasized adaptability, resilience, and strategic foresight as vital skills for the gig landscape of 2047, equipping students with knowledge to navigate and thrive in an evolving economic environment.
About ISBR Business School: ISBR Business School, located in Bangalore, India, is a premier institution dedicated to providing world-class education in business and management. Accredited by the NBA and recognized by the Association of Indian Universities and the Ministry of HRD, Government of India, ISBR has consistently been ranked as a platinum institute by AICTE-CII. With a diverse student body, a strong emphasis on industry collaboration, and a curriculum designed to foster innovation and leadership, ISBR Business School is committed to shaping the business leaders of tomorrow. The school’s robust placement record and partnerships with top global companies underscore its commitment to excellence and career readiness for its students