GIG economy in the healthcare sector: The Unbreakable Knot

Healthcare is one of our country’s greatest industries and it is inextricably linked to our national economy, which should come as no surprise given its importance. The challenging and demanding nature of healthcare management comes with a fair amount of stress and the industry’s prominence in our lives has worsened the situation. But with the help of the gig economy, we can get out of this dreadful condition.

 

When it comes to the gig economy in the healthcare industry, it’s been observed that it’s grown at a fast pace in recent years, especially when the current shortage of healthcare professionals raises patient costs, reduces care quality, and puts financial difficulties on healthcare providers.

 

But who are these gig individuals? 

They are individuals who are enticed to work for one or more firms on a short-term, temporary or independent basis rather than in a permanent, full-time position with a single firm. As a result, more healthcare professionals and businesses are turning to the ‘gig economy‘ to close the gap and preserve patient health information, privacy, and security by hiring temporary workers.

 

However, before it is known how the gig economy may help, the fundamental differences between full-time and gig employment must be understood.

  • Full-time workers are those who work full-time and have a stable wage, benefits, and opportunities for promotion. 
  • Gig workers, on the other hand, have the flexibility and control over their schedule that they prefer as well as the chance to earn extra money.

 

GIG Economy– A Boon Or A Curse For India? 

Despite the fact that the healthcare sector in India is one of the most essential when compared to others, the industry is currently focusing on reducing inefficiencies within the operations in order to increase income.

 

At the same time, a looming healthcare skills crisis is expected by 2025, with 1.54 million doctors and 2.4 million nurses needed to satisfy the increased demand. There could be serious consequences if this figure is not met on time. Hospitals and healthcare providers, on the other hand, are using the gig economy to directly negotiate with healthcare professionals, cutting the fees charged by costly intermediaries.

 

In addition to this, the gig economy allows healthcare companies to meet their staffing needs at a lower cost, and healthcare professionals – both full-time and gig workers – to meet their needs in novel ways.

 

The fact that gig workers work independently does not lessen the importance of healthcare organizations. They still ensure that each gig worker is active and that high-quality care is provided to the workforce. Gig workers must grasp all new healthcare processes and receive sufficient training in order to care for patients on time.

 

Investing time in the development of permanent employees, meanwhile, is critical to make them feel like valuable members of the team. It will be tough to strike a balance between these critical elements, but it will be necessary for good performance.

 

So, to maintain all these properly, take the following points into consideration:

 

Make onboarding and training mandatory:

Gig workers can work for healthcare companies with short-term requirements. Virtual training may be able to help bridge the gap between onboarding and ongoing compliance training for gig workers and permanent staff. Healthcare companies will also want to make sure that high-quality care is always provided, just as permanent staff must complete on-site training.

 

Keep a high standard while hiring:

The stakes are much higher in healthcare, with major medical issues and even death as potential outcomes. As a result, it is critical to maintain a high standard when hiring healthcare workers. Hospitals may not be able to devote such long hours to the process due to its duration. 

In that case, hospitals can contact staffing agencies for assistance. They handle everything, from the screening process to training, saving the hospital management time while maintaining the standard.

 

Obtain feedback from gig workers:

Gig employees may work in a variety of hospitals, exposing them to a variety of processes, creative ideas and best practices that a hospital can benefit from. Healthcare organizations can improve their business while simultaneously increasing the participation of gig workers by searching out these ideas and listening to their suggestions.

Following these guidelines will undoubtedly assist in properly maintaining the gig employees. But now the most essential question arises. Let’s find out what the answer is.

 

The future of the GIG Economy in the Healthcare Sector

Despite the fact that COVID-19 established a new normal in terms of work, labor, workplace, and culture, it is clear that the gig economy will surely dominate the future normal.

 

According to a group of staffing organizations, healthcare will be the driving force behind temporary employment in 2021-22, with a modest growth rate of 3.6 percent in 2020-21.

But it’s vital to assess the staffing needs of a certain healthcare company before evaluating the role of the gig economy in the future. If we check the stats of nurses and other healthcare professionals throughout the industry, we will see how big of a demand there is for their services.

 

IFANglobal Transforms The Healthcare Sector

Here is where IFANglobal’s expertise can assist hospitals. IFANglobal is a staffing firm that assists hospital management in escaping the healthcare manpower shortage. We offer employment flexibility in addition to permanent hiring with temporary staffing alternatives, which allow you to hire nurses for 12 days per month at a cheap cost.

 

Hospitals save time and energy by allowing IFANglobal to handle the initial nurse screening and interview. By holding gig economy employees to the same standards as full-time employees, all employees will have identical core competencies, which will be critical in reducing service disparity.

 

Looking back and calculating our current situation, it appears that this trend will help India’s pre-covid work opportunities to be surpassed over time, resulting in a massive increase in employment opportunities, particularly in tier 2 and tier 3 cities. The job market for front-line workers is still largely unorganized, but the government is working to improve it.

 

Also, a study on “The Impact of COVID 19 and Industry 4.0 on the future of Work for Women, An Insight from the Formal Sector in India” underscores that alternative work arrangements in the gig economy have the potential to absorb more women and enhance their involvement in the workforce. 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 percent. Also, retired employees may be a good option to start when organizations are filling available shifts.

 

With all the predicted figures, it’s clear that healthcare businesses will be able to reduce inefficiencies in existing employment models while simultaneously providing healthcare workers with the option to work in novel ways by bringing the gig economy into the healthcare sector. To make this a reality, organizations must build systems that provide gig workers with the skills they need to thrive while also lowering labor costs and ensuring high-quality care and a great patient experience.

 

Contact us for any kind of staffing needs, whether permanent or temporary. With our years of experience, we strive to provide you the best.

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