Reshaping the Future: The Phenomenon of Gig Workers and Knowledge-Economy

This chapter will introduce the concept of the gig economy. It begins with a brief discussion of technological changes and their impact on the workforce and labour market, demonstrating how the trend shifts towards the gig economy. It then examines the trends that are influencing this transformation and discusses various perspectives and the attractiveness of the gig economy for workers and businesses. This chapter will also discuss the gig economy, platform economy, digital platform, and gig worker categories. It concludes with a brief discussion of some of the opportunities, issues, and challenges associated with the gig economy.

To manage workers in the gig economy, we must understand the various types of gig workers and how they perform. This chapter focuses on the many types of gig workers and how professional gig workers overlap with knowledge workers in the knowledge economy. The chapter will next go through the distinctions between the gig economy and the talent economy. This chapter will finish by examining the informal economy and its relationship to the gig economy.

This chapter examines prior studies on various types of knowledge, knowledge workers, and the knowledge economy. One must have a clear grasp of the function of knowledge workers and human capital in the knowledge economy and how the organisation should manage to gain from knowledge workers and their knowledge to prepare the organisation and economy for the knowledge economy. This chapter will go through many models, drivers, pillars, and requirements for the knowledge economy. The chapter will then finish with the essential aspects of the knowledge economy.

In the previous chapters, we discussed the gig economy, knowledge economy, and its characteristics of each. The concept of knowledge workers is discussed in detail and their role in the knowledge economy and in creating knowledge. This chapter will explain how the knowledge economy and gig economy are connected and how the concept of knowledge workers and professional gig workers are connected. We will differentiate skilled gig workers from low-skilled workers and their role in economic development and productivity. Furthermore, we will explain their involvement in the organisation and how they can manage them and utilise their knowledge to increase productivity. The end of this chapter will discuss the platform economy concept and explain the platform economy's aspects in detail. This chapter emphasises how working globally is facilitated by digital transformation and IT infrastructure and how managing the professional workforce will create the opportunity to connect to a variety of job demands, particularly from developed countries.

This chapter describes the workforce trends in developed and developing countries, depicts the changes, and provides a road map for countries seeking to become a hub for professional workers. The roadmap outlined the factors that countries should consider in their strategic planning to succeed as suppliers, transforming the country into a knowledge economy and a hub for professional gig workers. As discussed in Chapter 4, professional gig workers are knowledge workers who work and deliver tasks online, and they participate in professional knowledge-based online jobs. How to organise, train, and structure this skilled workforce to maximise economic growth, income, decrease unemployment, prevent outflow, and transform the country into a professional hub is a critical question that requires special attention from the government and industry players.