Labor Day, the yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country, is approaching and many times signifies the end of summer vacation season. According to studies like Project Time Off, a good portion of workers don’t take all their vacation time, and when they do, they feel guilty about it. But what about those who work in the gig economy? Do contractors take time off to relax? Has their work/life balance been improved since moving from the traditional workforce?
We recently surveyed 100 of our contractors to see how the gig economy has affected their work/life balance, and how they choose to spend their valuable time off.
According to the survey, contract workers in the hotel sector deeply value free time, are actually taking more time off, and enjoying the freedom to do so:
- Time off is important to contractors: 33% of respondents said work/life balance and the opportunity to travel were the most important factors when deciding whether to take on a temporary project, just behind the leading factor of base remuneration at 40%, and the opportunity to work with new brands, at 11%
- Contractors enjoy more vacation days: 64% of respondents said the number of vacation days they take annually has increased since becoming a contractor, and 54% of respondents said they take 11+ vacation days per year; in fact, 25% said they take four more weeks off per year, and 20% said they take two more weeks off per year than prior to becoming a contractor
- Contractors continue to travel on vacation: 95% of contractors are placed away from their home base, requiring them to travel an average of 24-50 weeks a year; despite that challenging schedule, when asked how they like to spend their time off, 31% said they choose to travel even more, while 37% said they spend their time off relaxing at home
- Contractors spend more time with family: 68% of respondents said they spend more time with their families than prior to becoming a contractor
As the data shows, the Gig Economy is working in hospitality. Over the coming months, we look forward to learning more about the different ways each contractor benefits from task force work, by tapping into your insight in an upcoming, comprehensive study led by SSP. We welcome your feedback by writing us at [email protected].
For more tips on how contractors can maintain work/life balance, check out this blog post from our partner, Total Customized Revenue Management.