The Engineer’s Guide to Succeeding in the Gig Economy: The Importance of Upskilling
By Mr. Sumit Shukla
The gig economy is making significant changes in the job market, especially in India, where it is expanding at a notable rate. Reports from the ASSOCHAM show that the gig economy is growing at a compounded annual growth rate of 17% and is expected to exceed $455 billion by 2024. The NITI Aayog, a government think-tank, estimates that India’s gig workforce will reach 23.5 million by 2029-30, a substantial increase from the estimated 7.7 million in 2020-21. Additionally, the Boston Consulting Group projects that the gig economy could create up to 90 million jobs and add up to 1.25% to India’s GDP in the long term.
This growing gig economy is opening up new opportunities for professionals across various fields, and engineers are among those who stand to benefit the most. With more than seven million workers in India transitioning to freelance roles, the engineering sector is seeing a significant shift towards contract-based work. This shift offers engineers not just financial rewards but also the opportunity to work on a variety of projects, allowing them to continuously expand their skill set.
Why Engineers Are Moving to the Gig Economy
Engineers are finding many advantages in the gig economy, particularly the opportunity to enhance their skills. Unlike traditional full-time roles, gig work allows engineers to choose the projects they want to work on, often involving the latest technologies. This exposure to new tools and methods helps engineers stay current in their field, making them more competitive in the job market.
Another appealing aspect of gig work is its flexibility. Engineers can work on multiple projects at once, choosing their own schedules and work environments. This flexibility not only helps maintain a better work-life balance but also allows engineers to focus on projects that genuinely interest them, leading to greater job satisfaction.
Demand for Specialized Skills
As technology continues to evolve, companies increasingly rely on engineers with specialized skills for short-term projects. For example, a company developing a new app might need an engineer with expertise in a specific programming language. Once the project is finished, that particular skill set may no longer be needed. This creates an ideal situation for gig engineers who can move from one project to another, applying their specialized knowledge where it is most needed.
Additionally, hiring contractors is often quicker and less risky for companies than hiring full-time employees. This benefits both the company and the engineer, as it allows for a trial period before committing to a long-term working relationship.
Networking and Professional Development
The gig economy also provides engineers with valuable networking opportunities. By working on various projects with different teams, engineers can build a broad network of professional contacts. These connections can lead to more gig opportunities and even full-time job offers in the future. Additionally, engineers often collaborate with other professionals in their field, allowing them to share knowledge and stay updated on industry trends.
This networking is particularly valuable in engineering, where teamwork is often essential. While many gig roles involve independent work, there are also opportunities to collaborate with other engineers on complex projects. This teamwork can lead to professional growth, as engineers learn from each other and improve their skills.
Role of Technology
Technology plays a crucial role in the gig economy, and engineers are central to this technological shift. With tools like cloud sharing, video conferencing, and project management software, engineers can work from virtually anywhere, collaborating with teams across the globe. This ability to work remotely has made gig work more accessible than ever, allowing engineers to take on projects without being limited by location.
As companies continue to integrate AI and data analytics into their operations, the demand for engineers with these skills is growing. Engineers who upskill in these areas will find themselves in high demand, with the gig economy offering numerous opportunities to apply their knowledge in real-world projects.
The gig economy is fast expanding with around seven million workers in India shifting to gig work. A TeamLease Edtech report further shows that while 78% of employers are optimistic about hiring gig workers, long-term success in this field heavily relies on strong technical skills. For engineers, staying competitive means they must stay up-to-date with the latest technologies and industry trends.
One effective strategy for continuous learning is to take advantage of online courses and certifications that focus on emerging technologies. Many platforms offer courses in AI, machine learning, blockchain, and other in-demand skills. Participating in webinars and industry conferences can also provide valuable insights and networking opportunities. Another approach is to seek out challenging projects that require learning new skills. By pushing themselves out of their comfort zone, engineers can acquire new competencies that will make them more marketable in the gig economy. Additionally, joining professional organizations and forums can provide access to a community of peers who share knowledge and resources, further supporting ongoing learning and development.
(The author is Mr. Sumit Shukla, CEO of Scholars Merit, and the views expressed in this article are his own)
