Report: Millennials Choose Sharing Economy for Work-Life Balance, Boss-Free Career

Imagine a future when you could take vacation when you pleased, you could give yourself a raise when you knew your time and skills would be more valued and, best of all, you didn’t have a boss.

Well, that future is here, and according to a March 2015 survey conducted by TaskRabbit, millennials are serving a leading role in defining what it means to have a job in the new Sharing Economy.

The survey explores some of the emerging trends and preferences that are driving the rise of the freelance lifestyle (freelancers are predicted to make up 40% of the workforce by 2020) and bridging the “jobs gap” resulting from the Great Recession. According to the TaskRabbit Millennial survey, 58% of Taskers in the U.S. and UK are millennials, born in 1980 or later. Three main reasons why millennials say they decided to work in the Sharing Economy include working flexible hours, not having a boss and earning extra cash.

You can see complete results from the survey in the infographic below.

In addition to flexibility, TaskRabbit’s survey found:

  • Working in different locations and using a variety of skills also rank high on millennial Taskers’ priority lists.
  • 84% of millennial Taskers make themselves available to task during holidays, if the price is right.
  • The top three reasons why millennials become Taskers (In descending order): 1. extra money, 2. flexible work schedule, 3. not having a boss
  • “Flexibility of work schedule” was described as “extremely important” twice as frequently as “flexibility of location” and “flexibility of jobs you work on.”
  • 15% of Millennial Taskers earn $6-7K/month
  • Millennials are most likely to spend their free time (in descending order): Pursuing a hobby, continuing my education, and working another job
  • 77% of Millennial Taskers say TaskRabbit is the only Sharing Economy platform they use to earn money. Taskers who work on other platforms are twice as likely to work on ride-sharing platforms, like Uber and Lyft, compared to other Sharing Economy platforms.
  • 65% of Millennial Taskers say they earn enough money on TaskRabbit to support their lifestyle and have a healthy work/life balance by working 20 hours or less per week.

Millennials_10

aarongannon

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