Self-Employed Workers Waver on Summer Vacations

By Ava Mandoli, Inc. (TNS)

One thing that could be stopping self-employed professionals from kicking their feet up at a beach this summer? A lack of confidence in the economy.

More and more independent workers are in a period of “time-off austerity,” with nearly four in five respondents saying the state of the economy is impacting their decisions around taking time off this summer, according to a recent survey by portable benefits company Stride Health. The survey, which collected responses from more than 600 full- and part-time independent workers in June, found that 60 percent are not planning on taking any time off this summer.

For independent workers—whether that be small business owners, gig workers, or freelancers—taking a step back from work can be challenging for both personal and financial reasons, says Linda Caliri, head of brand and product marketing at Stride.

“It’s harder for independents to carve out the room for time off without the burden of thinking of, ‘How much income am I losing?’ ” Caliri says.

Vacation hesitation among independent workers reflects Americans’ overall low confidence in the economy. In Gallup’s June Economic Confidence Index, nearly seven in 10 Americans said they believe the economy is getting worse, while just 26 percent said it is getting better.

Low economic confidence is also influencing independent workers’ decisions around what types of vacations to take. According to the Stride report, about 40 percent of independent workers who are taking time off this summer plan on staycationing or exploring cities within their own state. International travel plans, in comparison, were much lower, with just 16 percent of independent workers indicating they planned to go abroad this summer.

In order to make any of these vacations possible, independent workers have had to plan in advance. More than half of those surveyed said they had to reduce their budgets to afford a vacation, and around 30 percent said they are working extra hours beforehand to supplement their vacation funds.

But in many ways, this prep work can be worth it. Time off can improve professionals’ physical and mental health, enabling them to be more creative and productive when they get back, according to a Harvard Business Review report.

For independent workers, Caliri says, “the challenge is being able to remind themselves that taking time off will re-energize them, make them ready to get back to work, and be better at their jobs.

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