Boosting wellbeing of self-employed workers will benefit UK economy

A report from the Centre for Research on Self-Employment (CRSE) has highlighted the importance of improving the wellbeing of self-employed workers.

The report, which is entitled “The Way to Wellbeing” and was released on National Freelancers Day, shows how boosting the happiness and wellbeing of self-employed workers can help to improve business performance and benefit the UK economy.

Recommendations

The report takes a holistic approach to exploring self-employment by looking at the overall life satisfaction of self-employed workers, with factors such as income, jobs and health being taken into account.

A number of policy recommendations have been offered in the report to help business leaders improve the wellbeing of self-employed groups, with faster and better access to mentoring and increasing confidence through better access to skills development resources being among the suggestions.

The report also urges the Department for Work and Pensions and pension providers to boost the long-term financial stability of self-employed workers by providing them with tailored financial products and information about saving.

The CRSE is also calling for the banking industry to support the self-employed, suggesting that banks offer banking services that are suitable for self-employed workers.

Impact

Commenting on the importance of understanding how self-employment affects the economy and individuals, the CRSE’s Director Suneeta Johal said: “With self-employment on the rise across the UK, it’s more important than ever to understand the impact it’s having not just on our economy, but on the lives of real people.”