Home / Companies / News /  Banking and finance driving grey-collar jobs: GigIndia

Banking and finance driving grey-collar jobs: GigIndia

In July 2021 alone, GigIndia observed a 60 fold jump in monthly tele-calling minutes compared with June 2020. With SMEs and SMBs going digital, fintech enterprises are looking to scale operations across tier-II and tier-III cities.Premium
In July 2021 alone, GigIndia observed a 60 fold jump in monthly tele-calling minutes compared with June 2020. With SMEs and SMBs going digital, fintech enterprises are looking to scale operations across tier-II and tier-III cities.

  • Increasing brand penetration in tier-II, -III and -IV cities, fixed costs and pent-up demand have triggered a surge in grey-collar gigs in sales, marketing, and customer support roles

MUMBAI : Over the past 18 months, propelled by the impact of covid-19’s first and second waves, GigIndia, a B2B on-demand gig platform for grey-collar jobs, has seen a significant rise in the adoption of the gig model by banking and finance companies.

Increasing brand penetration in tier-II, -III and -IV cities, fixed costs and pent-up demand have triggered a surge in grey-collar gigs in sales, marketing, and customer support roles.

In July 2021 alone, GigIndia observed a 60 fold jump in monthly tele-calling minutes compared with June 2020. With SMEs and SMBs going digital, fintech enterprises are looking to scale operations across tier-II and tier-III cities.

The pandemic has also bolstered health and life insurance services, pushing growing demand from BFSI (banking, financial services and insurance) companies.

GigIndia registered a 17% growth in demand for on-demand gigs from the banking and finance sectors alone, compared with June 2020. With approximately 2.8 million tele-calling minutes since April 2021, the BFSI segment has been leading the demand for grey-collar jobs, followed by education, e-commerce, and healthcare. Lead qualification, customer engagement and telemarketing are some top gigs driving grey-collar jobs on the platform.

“A massive surge in health and insurance products, digital payments and investment platforms during the pandemic have seen escalating demand for sales and customer engagement executives. But limited in-house resources, fixed cost and business plans to scale rapidly into tier-II, -III and -IV markets have nudged BFSI enterprises to deploy the gig model for grey-collar roles," said Sahil Sharma, co-founder and chief executive officer, GigIndia, adding that in July 2021, about 35% of demand on GigIndia was driven by companies in financial services, apart from 22% jump in inquiries from this sector," the firm said. 

Top banking enterprises of India are opting for the gig model to carry out inside sales for traditional banking products such as loans, insurance and credit cards. Stock broking startups have been working with grey-collar gig workers for lead qualification, while digital transaction platforms have been deploying gig workers for customer demo and onboarding gig jobs.

The rising adoption of the gig economy in the past year-and-a-half has also contributed to 16% of the average monthly income of grey-collar gig workers on its platform.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout