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Vaibhavi Bhat posted an update
HR Learning of the Day Precarious Work:
Precarious work refers to employment that is insecure, lacks protection, and offers limited benefits or opportunities for career advancement. This type of work often leaves employees vulnerable to exploitation, financial instability, and stress due to uncertainty about their job’s continuity.
Key Characteristics:
1. Short-Term Contracts: Temporary, project-based, or gig roles without long-term commitments.
2. Low Wages: Pay is often insufficient to meet living standards.
3. Lack of Benefits: No health insurance, paid leave, or retirement plans.
4. Uncertain Work Hours: Irregular schedules that disrupt work-life balance.
5. Limited Employee Rights: Weak or non-existent protections against unfair treatment.
Implications in HRM:
1. Employee Morale: High turnover and low motivation due to a lack of job security.
2. Talent Retention Challenges: Difficulty in building a loyal workforce.
3. Social Costs: Increased societal inequality and stress-related illnesses.
4. Diversity Risks: Women and marginalized groups often face the brunt of precarious employment.
Indian Context:
Example: Workers in India’s gig economy, such as delivery executives for food platforms, often face unpredictable wages and minimal job protection.
Case Study: In 2022, labor organizations advocated for gig workers to be classified as employees, emphasizing the need for statutory benefits like Provident Fund and medical insurance.
Strategies to Address Precarity in HRM:
1. Policy Implementation: Establish minimum wages and ensure job security.
2. Upskilling Programs: Equip employees with skills for long-term employability.
3. Flexible Benefits: Offer health insurance and paid leave, even for part-time roles.
4. Clear Communication: Regularly inform employees about their rights and opportunities.
Please note that all HR Words have been Sourced from Google/Wikipedia and I copy from different places, edit using GenAI and share with everyone while learning something new everyday. Image Source ChatGPT
Have A Great HR Day
Regards
Dr. Vishal Verma
