The gig economy: it's not all rock'n'roll

The gig economy: it's not all rock'n'roll

Research by ADP, one of the world’s leading providers of Human Capital Management (HCM) solutions, reveals that while employees across Europe are ready to embrace the gig economy, the appetite for this type of freelance work varies dramatically from region to region.

ADP’s report, The Workforce View in Europe 2017, consulted 10,000 European working adults and concludes that up to 63% of employees in the UK and 68% in mainland Europe are interested in and would consider self-employment or freelance working.

The report also reveals that pay remains the ultimate driver in motivation and engagement (47%), which confirms that most people opt for jobs in which they can choose hours and therefore income levels. This may also point to people joining the gig economy out of necessity rather than choice. 

While there are many factors contributing to the increasing trend towards gig economy jobs, people most identify with the benefit of choosing their own hours. This is in line with the 28% of employees who say that maintaining a work/life balance is the most important motivator at work. In the UK, that figure rises to 33%.

However, the research also reveals that self-employed workers in the UK feel they have the poorest work/life balance compared to other industries. Conversely, those already self-employed report higher levels of job satisfaction, with 75% satisfied versus 70% on average. And, of those, 39% report that their key motivator is being able to work where and when they want to.

This desire for flexible working locations and hours also varies drastically by demographic. For example, older workers have the most desire for complete flexibility in working hours and locations.  

Jeff Phipps, Managing Director at ADP UK, says “While the gig economy brings with it many benefits for both employers and workers, such as a varied and accessible talent pool and increased control over working hours, it can also be a challenging experience. Employers may lose individuals with valuable expertise, while the workers themselves may not gain the control they had hoped, due to the fear of turning down work and not being offered it again. Employers should ensure that they are providing excellent career development opportunities and that they treat workers respectfully so that they gain their loyalty and protect their brand, while people considering a gig economy job should think carefully before embarking on a freelance basis, ensuring they have carefully weighed up the positives and negatives associated with this working style.” 

Thursday, 6 April 2017

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