What is Labour Arbitrage

At a time when the Indian subcontinent is beset with a burgeoning population, rapid urbanization, and high disposable incomes, the Indian economy is at a precarious stage of balancing demand uncertainties with pressures to minimize bottom line costs. As a consequence, there is great reliance on a dynamic workforce, which comprises of temporary, contract, and casual laborers referred to as the contingent workforce. A talent war is looming on the horizon and employers need to buckle up their workforce armory with an unparalleled employee value proposition, making the business landscape a tricky vehicle to maneuver. A robust strategic framework bolstered by prudent workforce management will aid an organization to fulfill its goals while isolating it from any legal liability. Technology can be used to leverage data analytically for job assessment and aid in seamless project execution. In sum, an approach sensitive to the legal, technological and psychological pillars of managing workers provides a comprehensive mechanism to counter issues associated with contingent workforce management.