Advantages and Disadvantages of Flex Working?

Advantages and Disadvantages of Flex Working?

Following points among others can be considered as advantages and disadvantages of having flexible working hours:

Advantages:
A1. Employees benefit from more freedom.
A2. Reduction in traffic by avoiding rush hours.
A3. Improving employees' morale. This is achieved since they can decide when it's best to spend time on their personal and work matters, resulting in less tension.
A4. Reduction in being absent and/or late at work.
A5. Reduction in overtime expenses.
A6. Having more quality time for their families particularly attending issues relating to their kids.

Disadvantages:
D1. Financial resources needed for designing and implementing such scheme.
D2. Organization may face additional expenses due to extra working hours during the day (e.g., additional electricity charges for lighting, heating, air-conditioning, etc.).
D3. This scheme is not suitable for organizations that run continuously throughout the day..

What is your opinion about applying a flexible working hours system in an organization, what do you see as the main advantages and disadvantages?

Aniket Deolikar
Consultant, India

The Gig Economy: The Future of Working?

The Gig Economy refers to a work market that involves people working on a contract basis or short term for various companies instead of full-time employment. The term "Gig Economy" comes from the word "gig" which originally meant a (short) musical performance done by an individual or a group. Gig workers work in the same way where they work as independent contractors for one or various employers (which are not traditional employers as the employment is not full time).
Even if contract workers and flex workers have been around since a long time, this term is quite new but is catching quickly. According to a survey many Americans use the term gig economy to describe this independent workforce.

Types of work and people in Gig Economy:
In a Gig economy, the work can range from delivering groceries or packages to IT work such as coding. The work in the gig economy consist of small tasks. A worker can choose to work on a project or decide to work on specified hours. Once the work is completed then the worker moves on to the next gig. A gig worker may also work on multiple gigs simultaneously where he can choose to work flexibly.
Some companies hire contractual workers while some act as a mediator between the workers and the clients. Some of the examples are UBER, Food delivery companies such as Swiggy, Zomato, etc.
Gig economy includes a number of worker statuses such as a freelancer, a temporary worker, contract worker, etc. It is really difficult to define who is a gig worker and who is not.

Pros of the Gig Economy:

Flexibility: One of the biggest pros of the gig economy is the flexibility of work. A worker can choose to work in his free time and decide to work from anywhere he/she likes. You are free to choose which clients you work for. In some of the cases, you are also able to set your rates. There are platforms where even students can make some money by contributing while studying (for example 12manage 😃).
Following your Passion: People can work on weekends where they can choose to work on something they are passionate about. This also allows people to earn extra income by doing what they like

Cons of the Gig Economy:

No Employee Benefits: The full-time employees of the companies get many benefits such as health insurance and various retirement plan funds which go from the company's side towards the employee benefits. Usually, these are not there for the gig workers. So a gig worker has to keep funds separate for the retirement and may have to insure himself via a private plan.
Lack of social interaction: As working in a gig economy involves working on independent projects, there is very less social interaction with people. Full-time employees are a part of all the social elements at the office whereas a gig worker may miss them all. This may create a feeling of missing out.
Tax Planning: The companies won't deduct the taxes from your compensation for you. So you have to take care of the deducting the taxes by yourself. Also, the personal expenses such as laptops which are associated with working also have to be taken care of by the individuals themselves.

More and more people are moving towards the gig economy, the main reason being the flexibility in working. An organization can do a lot of cost-saving by hiring contractual workers especially when it is a small organization. Many SMEs are moving toward this form. If you are planning to have more flexibility in your work or you are planning to add some more income to your bottom line, then you should try the gig economy.

Sources:
Robin Madell, "What Is the Gig Economy?", Flexjobs, January 2020
Dr. Emilia Estrate, Jonathan Harris, "The future of work - Rise of the Gig Economy", Naco, November 2017

Tendekai Dzinamarira
Manager, Zimbabwe

Green Sustainable Development Goals (SDGs) also Drive Gig Economy

Green motives of the vision 2030 global goals known as SDGs are also causing more Gig employment and vice versa. For example, working from home contributes to the zero carbon emissions drive as it reduces employee movements.
For those unfamiliar with the list of the 17 Sustainable Development Goals (17 SDGs) of the United Nations:
1. No Poverty
2. Zero Hunger
3. Good Health and Well-being
4. Quality Education
5. Gender Equality
6. Clean Water and Sanitation
7. Affordable and Clean Energy
8. Decent Work and Economic Growth
9. Industry, Innovation and Infrastructure
10. Reducing Inequality
11. Sustainable Cities and Communities
12. Responsible Consumption and Production
13. Climate Action
14. Life Below Water
15. Life On Land
16. Peace, Justice, and Strong Institutions
17. Partnerships for the Goals.
More about the 17 SDGs at the UN site.