The freelance (gig) economy has been growing for many years and COVID-19 has not slowed down the growth. In fact, according to a survey conducted by Paychex Worx, “it may have increased the demand for freelance work, as employees’ transition to virtual work environments,” (1)
The survey results are interesting, although they should be qualified by the fact that the survey size was small. Paychex Worx surveyed only 1000 full-time professionals. Nonetheless, here are some of the results (2):
- 82% would be interested in freelance work
- 59% secured freelance work during the pandemic
- 22% of the freelancers started freelancing during the pandemic
- 52% of freelancers did not tell their primary employer about their freelance work
- Freelancers spent an average of 15 hours per week on freelance work
- “Current remote work flexibility may be inspiring [some employees] to pursue freelance work – 69% identified having the ability to do their jobs from anywhere”
- 72% of freelancers do not have difficulty balancing freelance work with their full-time job
- 59% want to continue freelancing for multiple years or indefinitely
56.7 million Americans participate in freelance work. Considering there are 161 million workers in the U.S. (3), freelancers comprise a large part of the labor force (35%).
Does your company have a policy on freelance work? If not, now is the time to add one. And remember to address potential conflict of interest problems.
(2) https://www.paychex.com/articles/management/2020-freelance-economy