The rise of the gig economy in the wake of Covid-19 has the potential to boost women’s employment in the formal sector. However, re-skilling will be crucial to expand opportunities for women in the formal sector, according to a new study by United Nations Development Programme (UNDP) and the Federation of Indian Chambers of Commerce and Industry (FICCI).
The study titled, “The Future of Work for Women in the Formal Sector in India”, undertaken jointly by the UNDP and FICCI with support from the government of Japan said that the loss of jobs for women in the formal sector during the Covid-19 pandemic could be temporary in nature, and women could gradually get back into the workforce.
The study conducted through a survey and direct interactions with over 150 Chief Executive Officers (CEOs) and Chief Experience Officers (CXOs) from manufacturing and service sectors underscores the fast-changing work environment, where technology will change the world of work, with the potential to expand opportunities for women working in the formal sector.
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Around 57 per cent of the respondent firms agree that the gig economy will itself expand and boost women’s employment because of flexible, temporary, or freelance jobs, often on online platform.
The survey also reflects that some key sectors that are likely to see an increase in women’s employment are health and pharmaceuticals (by 59 per cent) electrical and electronics (by 44 per cent) and Fast-Moving Consumer Goods (perishable goods) industry (by 41 per cent). At the same time, women’s employment in the finance and accounting divisions may moderately change due to the adoption of new technology.