Intuit Study Shows why Different Worker Groups
Are Drawn to On-demand Gigs
From people determined to be their own boss, to those embracing
the flexibility to do something they love, to workers finding a
replacement for a traditional job – people working in the on-demand
economy are just about as diverse as the labor market itself.
A new report from Intuit Inc. (Nasdaq:INTU), “Dispatches from
the New Economy: The On-Demand Workforce,” reveals a broad range of
motivations – and differing levels of satisfaction – among five
distinct groups of on-demand workers:
- The Business Builders –
Primarily driven by the desire to be their own boss, they represent
22 percent of on-demand workers.
- The Career Freelancers – Happily
building a career through independent work; 20 percent.
- The Side Giggers – Seeking
financial stability by supplementing existing income; 26
percent.
- The Passionistas – Looking for
the flexibility to do something they love; 14 percent.
- The Substituters – Replacing a
traditional job that is no longer available; 18 percent.
The data comes from a study from Intuit and Emergent Research
that examined people working via eleven on-demand economy and
online talent marketplace companies. Study participants included:
Deliv, Field Nation, Fiverr, HourlyNerd, MBO Partners, OnForce,
Uber, Upwork (formerly Elance-oDesk), Visually, Wonolo, and Work
Market.
“The on-demand economy is made up of a broad range of industries
– everything from transportation and delivery to legal and
consulting services – and a diverse cross section of the U.S. labor
market,” said Alex Chriss, vice president and general manager of
Self-Employed Solutions at Intuit.
“We are determined to take a different, deeper, view of the
on-demand economy. Intuit wants to focus more on the people than
the platforms, more on solutions than problems, and more on the way
forward than the way back. By understanding the needs, expectations
and motivations of on-demand workers, we can better create new
tools and supports that are tailor-made for the unique needs of
this growing section of our labor market.”
The Business Builders
Primarily motivated by the desire to run their own business or
be their own boss, Business Builders are the most likely to already
have their own business and use on-demand work to supplement or
expand this existing source of income. Their motivation and
characteristics include:
- “I always wanted to be my own boss;” 93
percent.
- “I will not go back to relying solely
on a traditional job;” 86 percent.
- Owning their own business in addition
to their on-demand activities; 55 percent.
- Being satisfied working in the
on-demand economy; 83 percent.
The Career Freelancers
Happily building a career through independent work, Career
Freelancers like being in control and are not concerned with the
risks associated with independent work. They generate a larger
proportion of their total income from their independent work than
the other groups. Their motivation and characteristics include:
- Controlling decisions about when, where
and how they work; 91 percent.
- “I feel more secure working
independently than if I had a traditional job;” 69 percent.
- “Working independent is less risky than
traditional employment;” 52 percent.
- Being satisfied working in the
on-demand economy; 82 percent
The Side Giggers
Looking to supplement their income, Side Giggers are strongly
motivated by financial security. Job flexibility and pursuing their
interests are less important. They are most likely to be employed
in a traditional job in addition to their on-demand work. Their
motivation and characteristics include:
- “Earn more income;” 88 percent.
- Having a traditional full-time (43
percent) or part-time job (16 percent).
- Owning their own business in addition
to their on-demand activities; 20 percent.
- Being satisfied working in the
on-demand economy; 65 percent.
The Passionistas
Motivated by job flexibility and the chance to do something they
enjoy, Passionistas are less likely to be motivated by money. This
group is relatively well educated, and works the fewest hours of
any of the groups. Their motivation and characteristics
include:
- “Doing something I like is more
important than making the most money; 86 percent.
- Having a college or graduate degree; 67
percent. A total of 38 percent had an undergraduate degree, 29
percent had a graduate degree.
- “The primary reason I work
independently is to earn more money;” 15 percent.
- Being satisfied working in the
on-demand economy; 61 percent.
The Substituters
The most likely to be involved with more than one on-demand
provider, Substituters typically lost a job or are currently unable
to find a traditional job. They are the segment that is the least
satisfied with on-demand work. Their motivation and characteristics
include:
- “Flexibility is more important than
making the most money;” 28 percent.
- “Doing something I like is more
important than making the most money; 26 percent.
- Unemployed and looking for a job before
starting their on-demand work; 19 percent.
- Being satisfied working in the
on-demand economy; 47 percent.
Dispatches From the New Economy Research Series
This research is part of an ongoing series of reports issued by
Intuit and Emergent Research. A report issued last week showed that
on-demand economy workers average 40.4 hours per week, but rely on
three different sources of income to make up their entire paycheck.
The most common sources of income are: on-demand work (34 percent),
a traditional full or part-time job (30 percent), contracting and
consulting (19 percent), and running a business (14 percent).
Intuit research from 2015 showed that an estimated 7.6 million
Americans will be regularly working as providers in the on-demand
economy by 2020, more than doubling the current total of 3.2
million. The rise of the on-demand economy is part of a broader
long-term growth trend in the contingent workforce, which has grown
from 17 percent of the U.S. workforce 25 years ago, to 36 percent
today, and is expected to reach 43 percent by 2020.
Intuit’s QuickBooks Self-Employed
Feb. 1 was the deadline for businesses to send 1099-MISC forms
to self-employed people. For many people working in the on-demand
economy, this represents the first time they are confronted with a
new set of tax obligations. Intuit’s QuickBooks Self-Employed
product provides tax relief by helping on-demand workers manage
business and personal finances, handle taxes throughout the year
and meet compliance requirements.
The QuickBooks Self-Employed Tax Bundle allows self-employed
users to file faster by exporting their Schedule C to TurboTax
Online. QuickBooks Self-Employed users find an average of $3,809 in
potential tax savings per year.
Intuit offers the product directly to on-demand entrepreneurs
through partnerships with many of the leading on-demand economy
marketplaces.
Study Methodology
A total of 4,622 workers who find work opportunities via the
platforms provided by the participating partner companies completed
an online survey between September 11 and October 1. The results
were weighted to reflect the proportion of workers in each of the
following segments: Drivers/Delivery, Online Talent Marketplaces
and Field Service/Onsite Talent. The weights were developed using
earlier survey work that sized the on-demand economy. The largest
weighted share of on-demand worker respondents from any single
company is 16 percent, with most partner companies providing less
than 10 percent of the respondents. Find study highlights here.
About Intuit Inc.
Intuit Inc. creates business and financial management solutions
that simplify the business of life for small businesses, consumers
and accounting professionals.
Its flagship products and services include QuickBooks® and
TurboTax®, which make it easier to manage small businesses
and tax preparation and filing. Mint.com provides a fresh,
easy and intelligent way for people to manage their money,
while ProSeries® and Lacerte® are Intuit's leading tax
preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its
fiscal year 2015. The company has approximately 7,700 employees
with major offices in the United States, Canada, the United
Kingdom, India and other locations. More information can be found
at www.intuit.com. Intuit and the Intuit logo, among others, are
registered trademarks and/or registered service marks of Intuit
Inc. in the United States and other countries.
About Emergent Research
Emergent Research is a research and consulting firm focused on
identifying, analyzing and forecasting the key demographic, social,
technology and economic trends and shifts impacting business and
society. Emergent Research partners, Steve King and Carolyn Ockels,
are co-authors of the Intuit 2020 Report and the Intuit Future of
Small Business Report Series.
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version on businesswire.com: http://www.businesswire.com/news/home/20160203005478/en/
Intuit Inc.Steve Sharpe,
650-224-2362stephen_sharpe@intuit.comorAccess CommunicationsJen
Garcia, 415-844-6244jgarcia@accesspr.com
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