The gig economy in Singapore is experiencing a transformative period, with new trends reshaping the way individuals approach work. Aiming to take advantage of the change, Jod, a platform dedicated to enhancing the gig work experience, has entered the ma…
The gig economy in Singapore is experiencing a transformative period, with new trends reshaping the way individuals approach work. Aiming to take advantage of the change, Jod, a platform dedicated to enhancing the gig work experience, has entered the market. With the rise of gig work as a viable alternative to traditional employment, many are drawn to the flexibility and autonomy it offers. In our conversation with Sebastian San, Country Manager (Singapore) of Jod, we will explore how the company plans to meet these evolving needs and what it means for the future of gig work in Singapore.
The company recently introduced JodRewards, a comprehensive benefits program that includes insurance, paid leave, and redeemable vouchers. This initiative is not just about perks; it's about addressing the critical issues gig workers face, such as the lack of financial security and protection. We will discuss how these benefits are making a tangible difference in the lives of gig workers and how Jod plans to continue supporting them.
As more people turn to gig work for its flexibility, there is a growing need for platforms to provide support and stability. In this interview, Sebastian will share insights on the significant trends in the gig economy, the feedback from Jod members on the new benefits, and the strategies Jod employs to tackle the unique challenges gig workers encounter. Join us as we delve into the future of gig work in Singapore and Jod's role in shaping this dynamic sector.
How have you seen the gig economy evolve in recent years, particularly in Singapore? What trends are most notable in terms of worker preferences and sentiment?
At Jod, we've witnessed significant evolution in the gig economy, particularly in Singapore, over the past few years. The pandemic has accelerated this growth, with many full-time employees transitioning to gig work to achieve better work-life balance and flexibility. We've observed an increasing number of business partners utilising our platform to hire gig workers for shift work, which has been met with a corresponding rise in the worker pool.
However, this transition has highlighted a critical issue: many gig workers lack access to traditional employment benefits. This gap undermines the initial appeal of gig work, which promised the freedom of "being your own boss".
In recent years, there's been a growing call to recognize gig work as a legitimate form of employment, ensuring that gig workers receive protections and benefits similar to those available to full-time employees. We are encouraged by Singapore's forthcoming plans to address gig workers' retirement needs.
At Jod, we have always prioritised the welfare of gig workers by offering benefits enjoyed by Full Time Employees such as sponsored personal accident and public liability insurance, paid break time, paid compassionate, sick and annual leave. These initiatives reflect our commitment to improving the gig work experience and supporting the evolving needs of gig workers.
In your opinion, what are the primary factors driving individuals towards gig work instead of traditional full-time employment?
The primary factor driving individuals towards gig work instead of traditional full-time employment is the flexibility it offers. Gig work allows workers to set their own schedules, choose their work , and balance work with personal commitments, providing a level of freedom and personal control that is often hard to find in traditional full-time roles.
Supporting this trend, a 2022 survey by Payoneer found that approximately 35% of the Singaporean workforce participates in the gig economy, either as their primary or secondary source of income.
Can you share any initial feedback or reactions from Jod members regarding these new benefits since their launch?
Since the launch of JodRewards in April, the feedback from our members has been overwhelmingly positive. We've seen a significant uptake, with over 200,000 JodPoints redeemed by Jod Members, equivalent to S$30,000 worth of rewards.
It was particularly notable that over 1,000 vouchers, worth more than S$10,000 in total, were redeemed during the month. One member redeemed S$380 worth of grocery vouchers within a month, significantly surpassing the monthly average grocery expenditure of S$211 for Singaporeans. These figures highlight the strong interest and appreciation for the new benefits among our members, demonstrating that JodRewards is making a meaningful impact on their lives
Gig workers often face uncertainties that traditional employees might not. What are some of the biggest challenges you see gig workers facing today, and how is Jod addressing these challenges?
One of the biggest challenges gig workers face today is the lack of access to traditional employment benefits, such as paid sick leave and corporate insurance protection, since they are not considered full-time employees. This situation forces many gig workers to either work while ill or forgo income during their sick days.
A survey we conducted among 1,000 Jod members revealed that 80% of respondents felt the absence of traditional employment benefits and desired the same protections as full-time employees.
At Jod, we've always advocated for benefits tailored to the unique needs of gig workers, recognising the significant gap in support and protection for these workers. Through JodRewards, we aim to address these challenges by offering insurance coverage and redeemable benefits specifically designed for gig workers. Our program provides a comprehensive suite of support, incentives, and resources to assist gig workers both personally and professionally.
Currently, we offer a range of benefits such as redeemable grocery and transport vouchers, and sponsored insurance coverage. We recently launched additional benefits under JodRewards, including Paid Sick Leave, Paid Emergency Compassionate Leave, and Income Protection from Job Cancellation.
How do you think the lack of traditional employment benefits affects the long-term career sustainability of gig workers?
The lack of traditional employment benefits significantly impacts the long-term career sustainability of gig workers. Without access to corporate insurance and other benefits, gig workers lack the stability and security offered by full-time employment. This often leads to financial insecurity and difficulties in retirement planning.
A 2023 annual survey by DBS found that many gig workers are spending more than what they earn, leading to "unhealthy" levels of savings as they deplete their funds to cover expenses.
While some challenges can be mitigated through income diversification and self-directed skill development, the overall sustainability of gig work as a long-term career option likely depends on government initiatives and societal support structures. These can provide gig workers with necessary safety nets, support, and workplace protections.
Looking ahead, how do you foresee the gig economy continuing to evolve in the next 5-10 years? What role do you see Jod playing in this future?
The gig economy, like everything else, continues to evolve daily, offering an alternative perspective on work. Looking ahead to the next 5-10 years, we foresee increased stability and support for gig workers, driven by new government regulations that aim to balance worker protections with the flexibility inherent in gig work.
At Jod, we recognise the importance of extending traditional employment benefits to our members to ensure workplace protection and incentivize1 job completion on our platform. We aim to remain at the forefront of advocating for and empowering the next-generation workforce. Through innovation and easy access to on-demand jobs, we envision a future where job access transcends traditional platforms, providing a more dynamic and supportive environment for gig workers.
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