The Human Capital of the Freelancers and Their Satisfaction with the Quality of Life

Ivona Huđek, Polona Tominc and Karin Širec
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Ivona Huđek: Faculty of Economics and Business, University of Maribor, 2000 Maribor, Slovenia
Polona Tominc: Faculty of Economics and Business, University of Maribor, 2000 Maribor, Slovenia
Karin Širec: Faculty of Economics and Business, University of Maribor, 2000 Maribor, Slovenia

Sustainability, 2021, vol. 13, issue 20, 1-23

Abstract: Digital technologies are underpinning a wide range of products, services, processes, and business model innovations that are significantly transforming industries, organizations, and society. They are increasingly permeating every aspect of our daily lives. In this paper, we looked at the challenges of digitalization, leading to a new way of working in the market and new business models, such as the gig economy. Individuals are becoming more mobile and self-directed in their careers, as opposed to traditional careers. We investigated the demographic characteristics of the new, growing group of self-employed, so-called freelancers, at the national level in Slovenia and investigated the relationships between human capital and their subjective (job and career satisfaction, life satisfaction) and objective success (income satisfaction). The survey was conducted among 200 freelancers (respondents). The empirical results show that most Slovenian freelancers working from home work in professional, scientific, and technical occupations; are between 35 and 44 years old; have completed the second level of tertiary education; work more than 40 hours per week; and have 16 years or more of work experience. To explore the quality of life of freelancers, empirical analysis showed that human capital factors are important for the success of a new career as a freelancer. The results show that freelancers’ human capital factors (education and experience, skills, and training) positively influence subjective and objective success. Using structural equation modeling, we also confirmed that human capital has a greater impact on freelancers’ subjective success (life satisfaction, career satisfaction) than on objective success (income satisfaction), suggesting that job and life satisfaction should be considered an important resource that freelancers rely on to determine their quality of life.

Keywords: digitalization; freelancers’ human capital; quality of life; subjective success; objective success (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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