The Gig Economy: Economic Innovations and Technological Advancements in Human Resource Management

Abstract

Technological developments and economic breakthroughs are propelling the gig economy, revolutionizing human resource management. Significant economic shifts include decentralized workplaces, flexible work arrangements, freelancing, and dynamic pricing patterns. The administration of gig workers is made more accessible by technological improvements, including digital HR tools, AI-driven recruitment, and virtual collaboration platforms. Considering these shifts, strategic workforce planning, regulatory compliance, and initiatives to engage and retain gig workers are imperative. HR departments must adjust to a diverse workforce by promoting inclusivity striking a balance between stability and flexibility. Technology-enabled integration of gig workers improves productivity and job satisfaction. To manage a diversified and regionally distributed workforce, businesses must adopt these advances to enhance their HR procedures. This flexibility is essential to keeping a competitive advantage in the changing labour market, where the gig economy is becoming increasingly important.