Intuit Study Shows why Different Worker Groups Are Drawn to On-demand
Gigs

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
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 ,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 .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
.

Source: Intuit Inc.

Intuit Inc.
Steve Sharpe, 650-224-2362
stephen_sharpe@intuit.com
or
Access
Communications
Jen Garcia, 415-844-6244
jgarcia@accesspr.com