Both Gig Workers and Freelancers enjoy the flexibility of gig work but miss employment-related benefits that would bring them better financial…

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EDMONTON, Alberta, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Market Research firm Advanis announces the second installment of their Future of Work series, a proprietary study on the Gig Economy Worker in Canada.

Summary

Advanis' survey of 616 Canadians working in gig or freelance roles has shed some light into the profiles and needs of those working in the gig economy, in particular:

Freelancers and Gig Workers are unique in their profiles and motivations.Freelancers tend to be older (40% are 55+), college-educated (77%), with a high income (47% with $100k+), and are more likely to be working gigs out of choice (74%) rather than necessity.

I wanted to exercise my entrepreneurial spirit capabilities and have more control of my time as I was caregiving for my aging parents. - Freelancer (Canada)

Gig Workers tend to be younger (30% 18-34), often with a young family (44%), low income (38% under $50k), and no college degree (39%), and are more likely to be working gigs out of necessity (36%).

I needed more money to pay my student loans, rent, and to feed my family. - Gig Worker (Quebec, Canada)

Freelancers and Gig Workers also show differences in their individual needs for tools to perform their jobs.Their tool needs differ with Freelancers displaying the need for digital tools that help with productivity (61%), collaboration (59%), and security (48%). On the other hand, Gig Workers are putting a higher priority on bookkeeping (29%) and tax tracking services (29%).

Financial instability is one of the biggest concerns regarding gig work.Approximately half of Freelancers (49%) and Gig Workers (53%) are concerned about financial instability. Furthermore, these concerns about financial instability are mostly coming from younger, lower income individuals, who have gigs as their main source of income.

Those concerned about financial stability are more likely to be working gigs out of necessity (41%), leading to a more pessimistic view of gig work overall. This leads to them being less likely to enjoy gig work and or to cite personal fulfillment as an upside of this arrangement. They are also more likely to bring up drawbacks, such as uncertain pay, lack of security, stress, and burnout.

The uncertain income is the biggest downside, and it goes up and down with the seasons, while my bills remain consistent. - Gig Worker (ON, Canada)

Lack of financial stability is leading to a high interest in public and private products that would help bring stability and well-being to Freelancers and Gig Workers.Some of the most missed employment-related benefits coming from Freelancers and Gig Workers are:

79% of those concerned about financial instability are interested in Universal Basic Income (UBI). This program would give every adult citizen a set amount of money on a regular basis and would help settle Freelancers and Gig Workers worries about consistent income and paid time off.

76% of those concerned about financial stability are interested in a Portable Benefits Package. This would be a benefits package owned by the worker and taken to each new job they have, helping bring Freelancers and Gig Workers missed employment-related benefits like Health Insurance and a Retirement Plan.

No benefits. No healthcare. No guarantee of income - Gig Worker (ON, Canada)No Pension - you must save. - Freelancer (BC, Canada)

Difficulty meeting terms for loan applications is higher amongst those concerned about financial stability.Only 20% of Freelancers and 18% of Gig Workers have a business credit card, 7% of Freelancers and 10% of Gig Workers have a business line of credit, and 22% of Freelancers and 29% of Gig Workers do not have a source of credit at all. This inability to obtain business loans is causing workers to use their personal credit to address their business needs.

About AdvanisAdvanis is a privately owned Canadian market and social research firm founded in 1990 and known for its innovation and responsiveness. Advanis engages with key stakeholders to deliver research-based insights and advice that help our clients make sound, fact-based decisions about their most crucial marketing, business, and public policy issues. We serve clients in private and public sectors, focusing on customer experience, product design, pricing, and social research. We offer a comprehensive suite of research services (quantitative, qualitative, and analytics).

For other recent survey publications: https://www.advanis.net/self-sponsored-studiesHeadquarters: Edmonton, AlbertaOther locations: Waterloo, MontralPresident: Michael WilliamsOwnership: Privately ownedEmployees: 50 Full time

Survey MethodologyAn online survey of 616 Canadians and 621 Americans (U.S.), all adults who are currently working as a freelancer or contractor, as a gig worker or platform worker, or on a side hustle for supplementary income, was conducted by Advanis from April 26th to May 17th, 2021. Details are available upon request.

Canadian participants 329 freelancers and 287 other gig workers were recruited using our General Population Random Sample by SMS and completed the survey online. National results for freelancers are accurate to within +/- 5.4%, 19 times out of 20. National results for other gig workers are accurate to within +/- 5.8%, 19 times out of 20. Margin of error is wider among subsets of the population.

For the purpose of this survey, gig refers to work as a freelancer/contractor, as a gig worker/platform worker (e.g., Uber, TaskRabbit, Instacart), or on other side hustle for supplementary income (e.g., Etsy, EBay, sitting jobs, trades). We make a distinction between Gig Workers and Freelancers.Freelancers: those primarily working freelance professional services (e.g., graphic designer, programmer, writer); and Gig Workers: those primarily working gigs such as transportation and delivery services, sitting work, maintenance and handy work, personal assistance services, online content delivery, online or in person retail.

Advanis is a member of the Canadian Research Insights Council (CRIC) and confirms that this research fully complies with all CRIC Standards including the CRIC Public Opinion Research Standards and Disclosure Requirements.

Contact InformationAnu BhallaSVP Business Developmentanu_bhalla@advanis.net

Follow Advanis on social media:@AdvanisInsights on TwitterAdvanis on LinkedIn

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Both Gig Workers and Freelancers enjoy the flexibility of gig work but miss employment-related benefits that would bring them better financial...