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Monday, October 19 2015

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57 Percent of Job Seekers Have Considered Working in the Sharing Economy, Finds New CareerArc Survey

LOS ANGELES, CALIF. OCTOBER 19, 2015 – CareerArc—a global HR technology provider of social recruiting and outplacement services—announced today results from a new study which reveal that an overwhelming majority of job seekers and employers approve of the Sharing Economy, and nearly 2 out of 3 job seekers have considered working as an on-demand service provider.

“As social technology changed how companies recruit and transition their workforce, today we again witness its impact on both our labor economy and our very definition of work,” said Robin D. Richards, CEO of CareerArc. “With high approval and confidence from both job seekers and hiring managers, the Sharing Economy deserves the attention of every employer who must take note that workers desire flexibility and may now seek it elsewhere, on-demand.”

Results of the 2015 Sharing Economy Study were collected through an online survey conducted by CareerArc of 1557 job seekers and 391 HR professionals across various industries and company sizes between September 23 – October 5, 2015.

The study exposed opinions of the Sharing Economy and its impact on modern labor from the job seeker and employer perspective.

Sharing Economy Earns High Approval and Optimism

The study finds significant support and optimism surrounding the Sharing Economy: 89% of employers and 85% of job seekers believe the Sharing Economy is a positive evolution of the labor economy. In addition, more than 2 out of 3 employers and job seekers agree that, despite the legal issues that may arise, the Sharing Economy is here to stay.

Moreover, 65% of HR professionals believe the Sharing Economy will have at least a fairly significant impact on the HR profession.

Sharing Economy Jobs Are a Widely Considered Option for Work, Especially as Stop-Gap Employment
57% of job seekers and 50% of HR professionals have considered joining the on-demand workforce. However, if faced with a sudden job loss, the likelihood of considering this type of work jumps to 72%.

Most job seekers (63%) and HR professionals (72%) believe that the majority of people who work in the Sharing Economy are made up of unemployed individuals in transition from a job loss, or employed individuals who seek supplementary income.

75% of Employers Encourage Applicants to List Sharing Economy Work Experience

Three out of four HR professionals advise candidates to list Sharing Economy work experience on their resume even when applying to professional jobs. This recommendation is even stronger when candidates apply to positions in the service industry (restaurant, hospitality, transportation, etc.), with 95% of employers advising candidates to include this experience in their work history.

A large majority of job seekers are confident about sharing this experience with potential employers: 88% of job seekers say they would list Sharing Economy work experience when applying to a service job, and 80% would cite this experience when applying to a professional position.

Strongest Motivating Factor: Workplace Flexibility

A flexible work schedule is perceived by respondents as the most desirable benefit to working in the Sharing Economy, rated more desirable than the potential income to be earned. Ranked below are the motivating factors in order of strongest-to-least motivating:

  1. Flexibility in schedule
  2. Money and earning potential
  3. Working outside an office environment
  4. No direct management
  5. Low barrier to entry and exitMost Discouraging Factor: Lack of Full-Time Benefits

Both job seekers and employers strongly agree that the lack of full-time benefits is what most discourages individuals from working in the Sharing Economy. In addition, 88% of job seekers and 75% employers believe that those who work in the Sharing Economy for 40 hours or more per week should be reclassified as full-time employees.

Job Seekers and Employers Split on the Future of the Sharing Economy

Sharing Economy companies–including Uber, GrubHub and DoorDash–have recently been challenged by lawsuits filed by their own employees who claim they have been misclassified as independent contractors.

The study found 67% of job seekers and 70% of employers believe the Sharing Economy is here to stay despite the legal issues that arise.

However, respondents were near equally split when asked what they predict would most likely happen to the growth of the Sharing Economy if Uber contractors are reclassified as full-time employees, instead of contractors: 36% of all respondents believe the Sharing Economy will continue to grow, 32% predict it will shrink, and 33% stay relatively the same size.

If on-demand workers are reclassified as full-time employees, 58% of job seekers believe that the potential money to be earned in the Sharing Economy will be most affected.

Go here to request a full copy of the 2015 Sharing Economy Study:

About CareerArc
CareerArc is the leading HR technology company helping business leaders recruit and transition the modern workforce. Our social recruiting and modern outplacement solutions help thousands of organizations, including many of the Fortune 500, maximize their return on employer branding. By leveraging the cloud, running on world-class infrastructure, and combining web, mobile and social media applications, we help companies gain a competitive edge in recruitment, employment branding, and benefits.

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