Runa, a global fintech infrastructure for payouts, has released new payments research that provides businesses with data-driven insights into how to retain and engage gig workers, freelancers, direct sellers, and other independent workers.
With workplace engagement continuing to plummet, more than one-third of the U.S. workforce (60 million-plus people) have engaged in freelance work since 2023. According to Upwork, such work is expected to comprise more than half of the U.S. workforce by 2028. This quickly growing talent pool creates a pressing need for businesses to deepen their understanding of worker motivations, especially around payout experiences, or risk losing both their workforce and their competitive edge.
Runa’s research revealed that negative payout experiences would make 70% of independent workers quit or rethink their job, 40% would reduce the work they do with the employer platform, and 31% would switch platforms entirely. Conversely, a smoother payout experience would keep independent workers more motivated (35%) and increase loyalty (31%).
“Independent work isn’t only a side hustle—it’s a primary income source for millions of people,” said Runa CEO Aron Alexander. “The prospect of being paid quickly on your terms is among the primary reasons people choose independent work. Our research confirms that the payouts experience is a competitive differentiator in attracting, retaining and engaging top talent.”
“Poor payout experiences ripe with delays and fees serve as a significant source of financial and emotional stress for independent workers, which can erode productivity and loyalty and drive attrition. Gallup reports that disengagement cost the world economy more than $438 billion in lost productivity last year, and half of the US workforce is trying to leave their current employer. Businesses seeking an engaged, long-term independent workforce must ensure payout experiences meet and exceed expectations it can no longer be an afterthought or oversight.”
Runa’s Decoding Payouts study offers a data-informed roadmap for independent worker platforms via the following key takeaways:
Independent workers consider timely, predictable payments non-negotiable and of paramount importance. Survey respondents cited payment delays as their top challenge as independent workers, and want to have access to their earnings immediately. A significant number of survey respondents reported wanting instant payouts via options such as digital wallets and instant bank transfers.
Accessibility of funds ranked second on the list of most important factors, with security not far behind. With more than one-third of Millennials and Gen X respondents (who comprise the majority of the U.S. workforce) reporting that they make more than 50% of their income as independent workers, quick, consistent and safe payouts are table stakes.
When asked what could improve their payouts experiences, 30% of independent workers listed having more payout options to choose from, including digital wallets like PayPal, Zelle, Venmo (60%), instant bank transfers like pay to card and push to debit like Visa Direct (46%), traditional transfers (31%), and gift cards (26%). A wide selection of payout options ensures independent workers across different generations, regions, roles, and levels of digital familiarity have access to the payout methods they prefer most.
High fees were also cited as one of the top challenges independent workers face when receiving payments, and more than one-third of survey respondents reported wanting lower fees to access their payouts. For millions of independent workers, payouts represent a significant amount of their income, and when every dollar counts, unexpected or excessive fees can erode trust, contribute to financial hardship, cause stress and drive them away from certain employers. This is especially true for younger generations.
“Poor experiences, lack of flexibility and payment delays are surefire ways to lose valuable independent workers,” added Alexander. “Around half of the respondents to our survey report being employed by more than one company, and as the independent worker economy expands and outpaces traditional job growth, businesses that offer fast and reliable payouts will be best positioned to attract and retain standout members of this growing talent pool.”
