The McKinsey Global Institute asked about 8,000 respondents from Europe and the US in its Independent work: Choice, necessity, and the gig economy survey. The results were that people who are working independently by choice are happy about certain nonmonetary benefits of this setting. They are also more satisfied with their professional life than people who work independently out of necessity.
Seventy percent of all independent workers willingly decided to work independently. They get their primary or supplemental income from independent work.
Thirty percent of independent workers work independently out of necessity. They would prefer to have a traditional job or they have to engage in independent work out of financial necessity.
Digital platforms provide efficient marketplaces
Direct and real-time connections enable workers to provide services with lower costs. Currently, only 15 % of independent workers use a digital platform to find work, but this “on-demand economy” is growing fast. Digital platforms also enable larger scales, faster matches and better coordination.
The main benefits of independent work
- Raising labor-force participation
- More opportunities for currently unemployed people
- Higher productivity and greater availability of services for customers
On the other hand, topics such as measures for income-security or training and credentials still offer room for policy makers.
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