Flexibility and Purpose — Workforce Turns to Gig in Pursuit of the Ultimate Work-Life Blend

Thirty million American workers rely on gig work as their primary income source and 67% of full-time employees indicated interest in gig work over their current jobs, according to MetLife’s latest report, “The Gig Economy: Opportunities, Challenges, and Employer Strategies.” The report’s findings demonstrate the fundamental impact gig work is having on the American workforce in the changing work-life world, as employees are increasingly drawn to the allure of flexibility, autonomy and desire for purpose in their work.

Defined as work based on a fixed-term contract or that is paid per project by a company, third party or online marketplace, gig work has made a major impact on the economy. In addition to the 30 million Americans generating their primary income from gig, another 15 million workers supplement “traditional” full-time work with “gigging/freelancing.” These numbers are only set to rise.

“As interest in gig continues to swell, employers who take the time to understand gig workers—and think through their needs and wants from work—will reap the benefits of a more engaged, diverse and satisfied workforce,” said James Reid, executive vice president, Global Employee Benefits, MetLife. “By creating experiences within the workplace that offer the same gig-like diversity of exposure, purpose-driven work and flexibility, employers can also satisfy full-time employees’ interest in gig work.”

Rise of the Gig Economy

MetLife’s report found that 85% of gig workers are interested in continuing contract work in the next five years, versus a more traditional work role. Additionally, almost 20% of full-time employees are already earning extra cash through side hustles and, of those, 49% intend to leave their current employer for contract or freelance work in the next five years. This trend provides a serious challenge for traditional employers who need to understand the overlapping interests of both gig workers and full-time employees to retain and attract highly-qualified talent.

“Our research shows that workers are turning to gig in the pursuit of creating the ultimate work-life blend where their careers meet income needs, provide a flexible schedule, and also give them a sense of purpose,” Reid said. “However, these gig roles often come without benefits, which is why MetLife is exploring ways to offer benefit solutions to this growing segment of the workforce.”