Startups Cater to Hourly Workers

By: James Flippin · June 06, 2023 · Reading Time: 3 minutes

How Do You Get Paid?

Earning an hourly paycheck is still the primary way most Americans earn a living. According to Crunchbase, over 76 million workers received hourly wages last year, or 55% of the workforce.

Additionally, the gig economy, which is characterized by short-term freelance-style jobs, has been growing in popularity for years. It appears the freelance space is hitting a fever pitch as VCs pour tens of millions into startups targeting hourly workers.

Addressing a Need

Many startups have noticed today’s workers prefer short-term hourly work that offers a degree of flexibility. Because of this, a handful of new platforms designed to help connect hourly workers with relevant employers have emerged.

In addition to prominent names like Upwork (UPWK) and Fiverr (FVRR), a few emerging examples include Jobandtalent, Snagajob, and Instawork, a startup connecting businesses with hourly workers that raised $60 million just last week.

Many startups also focus on helping companies handle the back-end responsibilities of hiring hourly workers. For example, Fountain helps companies manage the application process when hiring large numbers of hourly employees. And a company called Workjam provides productivity tools for businesses that employ mainly shift-based workers.

Finding Hourly Work

For many workers today, a consistent hourly gig is a necessity in order to pay the bills.

With the amount of money flowing into the gig economy, it looks like it will continue getting easier for hourly workers to find opportunities and take on new positions. This is especially true as a persistently tight labor market incentivizes employers to offer higher hourly wages in order to attract talented workers.

If you haven’t ventured into the gig economy yet, consider checking out Snagajob, Instawork, Jobandtalent, or the like. You may not know just how precious a mere hour of your time can be.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

TLS 1.2 Encrypted
Equal Housing Lender