Gig Economy Workers’ Attitudes Towards Their Jobs Align With The Overall Workforce
The gig economy—the freelance, often-times short-term labor market most commonly identified with ride-hailing services and contract work—has become a way of life for approximately 150 million people in North America and Western Europe. While lacking the benefits of an established organization, like company-sponsored health insurance and retirement savings, a survey by Morning Consult has found that gig economy workers are as satisfied with their jobs, financial situations and lifestyles as adults who are more traditionally employed.
Morning Consult’s survey defined gig economy workers as those who earn a significant portion of their income from freelance and contract work, both full- and part-time. And it found that 80 percent of them are satisfied with their current jobs and 59 percent with their financial situation. This compares to 78 percent of all workers who are satisfied with their jobs, and 62 percent who are satisfied with their financial situations.
The survey found similar alignments between gig and entire workforce in satisfaction with pay, 69 percent vs. 68 percent; benefits, 64 percent vs. 68 percent; and required hours, 75 percent vs. 78 percent.
For most gig economy workers (67 percent), the contract work represents supplementary, rather than main, income. Morning Consult reports that workers are moving into the gig economy because of the opportunity it represents for flexible schedules, being their own bosses, and picking and choosing projects. Its survey found that 51 percent of respondents would pick more flexibility and shorter hours, even if it meant less pay. In contrast, 34 percent preferred to make more money even if resulted in less flexibility and longer hours.
At 95 percent, gig workers and the overall workforce were on the same page regarding the importance of having the flexibility to balance work and family needs. Gig workers were pretty evenly split, however, as to whether they’d keep doing what they were doing the opportunity for a full-time position, with 49 percent saying they’d opt for the full-time job.
PPB explored the thriving potential of this market and how to best serve it in the January 2018 issue. See the story here.