Gene Zaino, of MBO Partners, believes that by 2020 more than half of U.S. workers will be independent, leading to a new independent majority. But for this to happen, we’ll have to see some significant legislative and structural changes.
In the 2011 inaugural MBO Partners Independent Workforce Index, a study of independent professionals in America, it is clear that the cataclysmic workforce shifts of the past decades have fueled a new kind of productivity, wealth and personal growth opportunity for American workers and companies. A new breed of entrepreneurial experts is a shining, silver lining in an otherwise gloomy workforce picture. And it’s time to unleash the potential of this innovative, entrepreneurial, and fast-growing group. The future of independent work in America is both promising and here to stay, but there are real obstacles we must keep in mind if we are to realize the potential.
This bold new untethered, independent workforce spans gender and generations and is currently 16 million strong in the U.S. today. Both at MBO Partners (which helps bring independent consultants and companies together) and in other roles, I’ve been watching and serving the independent workforce for more than 25 years, and I believe that by 2020 more than half of U.S. workers will be independent, leading to a new independent majority.
What the future workforce looks like
What does this future workforce look like today? According to the MBO study this take-charge group possesses not only a high level of self-reliance and control but is setting the bar for a higher standard in the very nature of work. Nearly 79 percent of the independent workers we surveyed stated they are highly satisfied or satisfied with their work situation versus half of non-independent employees who are unhappy and 70 percent who are not engaged or are disengaged.
For the independent worker, the litmus test for career success is not position, title or income but a rich life where work fulfills a deeper passion. In the MBO study, 75 percent of independents overall stated that doing something they love was more important than making money while 74 percent stated that they wanted a job where they know they were making a difference.
The MBO study also reveals that of the 16 million, more than 10 million are independent experts — that’s seven in 10 of today’s independent workforce. These experts offer specialized knowledge and skills to the open market. These motivated “solopreneurs” are becoming the talent-of-choice for some of the world’s most successful enterprises, as a recent Aberdeen study of organizations hiring contract talent reveals. This study found that the top reason that companies chose independent talent wasn’t cost — as is often assumed — but rather access to specialists with unique skills and talents who are more highly engaged producing breakthrough results. In this new economy, MBO Partners sees a future of work largely comprised of independent experts, enabling organizations to assemble powerful, hand-picked arsenals of specialized talent.
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