Financial instability and wage challenges
Income predictability remains a pressing issue, with 9% of workers reporting that their income is unpredictable and 49% experiencing varying degrees of uncertainty, compounding their financial stress. Despite taking on multiple jobs, financial stability remains unattainable for many; almost a quarter (19%) of shift workers hold two jobs, and 4% juggle three or more roles to make ends meet.
Wages also continue to be a concern, with a third (34%) of shift workers being paid minimum wage. Although 46% earn above the minimum, it often fails to provide sufficient financial security, leaving 15% of workers unable to cover their living expenses, underscoring the wage-living costs gap that continues to affect the hourly workforce.
“Shift workers are the backbone of many essential industries, yet they are often the most financially vulnerable,” said Emma Seymour, CFO at Deputy. The findings call for an urgent need for action. It’s not about increasing wages but about ensuring workers have predictability and stability. An unpredictability of income creates stress, which impacts people’s overall well-being. We must empower shift workers to thrive in this changing landscape. It’s time for businesses to step up and provide stability, career growth opportunities, and invest in digital tools workers need to succeed in the long term.”
Concerns about the future and technology
Beyond financial challenges, workers are increasingly worried about the future of their jobs. 33% of shift workers believe that their roles will change significantly due to artificial intelligence (AI), while 43% express enthusiasm about the potential of technology to transform their work. However, concerns persist, especially among younger generations like Gen Z, with 15% worrying about job security as automation becomes more prevalent.
Professional growth continues to be a driving factor for many workers, with 45% motivated by the opportunity to learn new skills, while their paycheck drives 43%. Despite the financial pressures, two-thirds (76%) of workers hold just one job with a single employer. For those working multiple jobs, a quarter (25%) diversify across different industries to secure more stable income streams.
www.deputy.com
