GSAT - Why You Should Care
Daniel Akre
The Planets First Fractional Workforce & CX Solutions Advisory / GigCX Champion / CX Leader / Founder / CEO / Advocate for Global Innovation
What is GSAT (gig-satisfaction)?
GSAT refers to a Gig Workers increased levels of satisfaction with their work ecosystem versus the ESAT (employee satisfaction) measure used for employees. The term "gig" is a slang word for a job that lasts a specified period of time. Traditionally, the term was used by musicians to define a performance engagement. Examples of gig workers include freelancers, independent contractors, project-based workers and temporary or part-time hires.
?Why do people do gig jobs?
Finances, job flexibility, Wellness, and Quality of Life Choice?are key reasons people turned to gig platform work over the past year; but motivations vary by how financially reliant people are on these jobs. Gig jobs are often a good way to generate income and control when, where, and how you work, allowing people to dictate their professional and personal trajectory. This Factors in the GSAT measure
?What does gig in Gig Economy stand for?
The gig economy gets its name from?each piece of work being akin to an individual 'gig'?– although, such work can fall under multiple names. It has previously been called the "sharing economy" — mostly in reference to platforms such as Airbnb — and the "collaborative economy".
?Are Gig Satisfaction (GSAT) measures better than Employee Satisfaction(ESAT) measures? ?
Gig workers get to choose who they work for, what hours they want to work, and where they work from. This new job/work flexibility has given humans a new perspective on their quality of life. The facts are, that happier workers equal happier customers. Gig workers typically produce 13-24% better results than their FTE counterparts. 78% of gig workers say they're happier than those working traditional jobs, while 68% say they're healthier. McKinsey gig economy research also reveals that freelancers seem to be “happier and feel healthier” than their full-time counterparts.
ReportLinker found that?freelancers are more optimistic and happier than traditional workers. They found a resounding 84% of workers stated that they find a real purpose in working in the gig economy.
76%?of full-time freelancers say they're satisfied with freelancing overall. Results from a study run by MBO show that 76% of full-time freelancers are overall satisfied with their careers. That's right—over three-fourths of workers who solely work freelance are happy with their setup.
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"This is what LiveXchange refers to as GSAT"
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Is the Gig Economy right for your organization? You decide...
Approximately?9%?of the American workforce participated in gig work over 2021. By value, gig workers contribute about 5.7% of the U.S. GDP. It's fair to say that the $350 billion gig economy comprises a significant portion of the current and future state of work in the U.S. and the world over. Feb 6, 2022
Can someone make a living off gig work?
Finally,?gig economy work can pay more than location-based employment, depending on the type of job. For example, according to a 2019 CNBC report, one-third of Upwork freelancers make at least $50 an hour. If you have a regular 9-to-5 job, you can also get a side gig to make extra money.
LiveXchange Technologies is a GigCX Marketplace and Technology Platform that provides a true white label solution for both BPOs and the Enterprise. As the #1 Resource for Gig Workers in North America, our Marketplace consists of over 150,000 experienced, skilled, educated, multi-lingual Service Providers ready to work in as little as three weeks and in project ramps as rapidly as 24-72 hours. Visit us at www.livexchange.com
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