Flexing It, a gig platform for freelance and project-based work, said there was a 75% spike in the number of freelance positions published in April, while HR technology solutions firm PeopleStrong estimates that 25-30% of the workforce in sectors such as internet business companies, IT, ITES, startups, hospitality, quick-service restaurants (QSR), retail and logistics will get converted to freelance roles over a period of time.

Large companies in sectors such as IT and IT-enabled services, FMCG, pharmaceuticals, education, professional services, and consulting are now looking at utilizing freelance talent more than before, industry executives said.

Such a move would bring down recurring employee cost since payment would be made project-based, provide the advantage of flexible staffing based on business needs, and help companies widen their talent pool into different regions and geographies, they said.