.
The Same, But Different: Side-Giggers In Search of Extra Income
Data gathered for the first time in 2014 shows that, alongside solopreneurs, there
are 12.1 million additional independent workers who have an ongoing stream
of side-gigs alongside their traditional employment, retirement and/or family
care activities. These “Side-Giggers” work fewer than 15 hours a week as an
independent on a recurring basis. Although the Side-Giggers’ primary motivation
for being independent is to supplement income, many are also pursuing a passion,
learning new skills or preparing to launch a new full-time business.
The Future of Work: Shades of Independence Will Alter How We
Think About Work
Key drivers of the independent workforce – structural shifts in the economy;
cheaper, better and more accessible technology; improved networks; and more
acute interest in steering our own personal and professional lives — remain
in place and, if anything, are growing stronger. Because of this, we expect the
solopreneurs — those who consider themselves full-time independents — to grow
to 24.5 million by 2019. When we add part-time side-gigging independents into the
fold, we expect the number of active, self-realized independents to grow from 30
million today to nearly 40 million by 2019 (or about 6% percent per year growth
over the next 5 years).
The Three Consistent Drivers
Despite a changing economic climate, a few themes remain constant in the four
years we have studied independent workers. Most independents choose and plan
to continue this path because they want: (1) control over the kind of work they do,
(2) the flexibility to determine when and where they work, and (3) the autonomy to
work in the way they believe best. These tenets hold true for both Side-Giggers and
full-time independents, although those who work on a less-than-half time basis are
also strongly motivated by supplementing their income.
What solopreneurs Want
1. Control over the kind of work they do
2. Flexibility to determine when and where they work
3. Autonomy to work in the way they believe best
Source: http://info.mbopartners.com/rs/mbo/images/2014-MBO_Partners_State_of_Independence_Report.pdf
Solopreneurs — These Full-time Independents are the Beating Heart of Independent Work and Fuel Small Business Growth
The 4th annual 2014 MBO Partners State of Independence in America workforce study
reports a growing headcount of 17.9 million “solopreneur” independent workers - or
those who regularly work 15 hours or more per week as independents, with an average of
34 hours per week (see side bar “Defining Independent Workers”).
This is up 1.2% from 2013 and 12.5% from the base year of 2011. This growth, which is more than 11 times higher than the 1.1% growth in the overall U.S. labor force during this 4-year period,
demonstrates the continued, structural shift toward independent work. In addition to
growing in number, the majority of independent workers continue to be satisfied (82%)
and plan on staying independent in the future (76%).
Solopreneurs also are major contributors to the U.S. economy and are significant drivers
of economic growth. More than $1.1 trillion of total revenue was generated by these
independents in 2014 — and they further spent more than $150 billion on non-payroll/
contractor expenses. Already, about 1 in 12 U.S. households – or more than 10 million –
rely on independent work for more than half of their income. This number will continue
to grow.
Independent workers are job creators and a major source of new employer small
businesses. In the past year solopreneurs spent $92 billion hiring the equivalent
of 2.2 million full-time employees via contract hiring.
Further, 1 in 7 solopreneurs – or 2.5 million – plan to build bigger businesses in the future,
adding more jobs and economic impact. Their actions are both changing and broadening
the definition of successful entrepreneurship in our nation as their numbers grow.
Source: http://info.mbopartners.com/rs/mbo/images/2014-MBO_Partners_State_of_Independence_Report.pdf
reports a growing headcount of 17.9 million “solopreneur” independent workers - or
those who regularly work 15 hours or more per week as independents, with an average of
34 hours per week (see side bar “Defining Independent Workers”).
This is up 1.2% from 2013 and 12.5% from the base year of 2011. This growth, which is more than 11 times higher than the 1.1% growth in the overall U.S. labor force during this 4-year period,
demonstrates the continued, structural shift toward independent work. In addition to
growing in number, the majority of independent workers continue to be satisfied (82%)
and plan on staying independent in the future (76%).
Solopreneurs also are major contributors to the U.S. economy and are significant drivers
of economic growth. More than $1.1 trillion of total revenue was generated by these
independents in 2014 — and they further spent more than $150 billion on non-payroll/
contractor expenses. Already, about 1 in 12 U.S. households – or more than 10 million –
rely on independent work for more than half of their income. This number will continue
to grow.
Independent workers are job creators and a major source of new employer small
businesses. In the past year solopreneurs spent $92 billion hiring the equivalent
of 2.2 million full-time employees via contract hiring.
Further, 1 in 7 solopreneurs – or 2.5 million – plan to build bigger businesses in the future,
adding more jobs and economic impact. Their actions are both changing and broadening
the definition of successful entrepreneurship in our nation as their numbers grow.
Solopreneur Independents
• Majority
work more than 35 hours/week
• Average
tenure = 9.4 years
• 19% have
a traditional FT or PT job
• 57% like
being their own boss
• 16% said
supplementing income was motivator
Side-Gigger Independents
• Work an
average of 11 hours/week
• Average
tenure = 6.5 years
• 60% have
a traditional FT or PT job
• 33% like
being their own boss
• 58% said
supplementing income was motivator
Source: http://info.mbopartners.com/rs/mbo/images/2014-MBO_Partners_State_of_Independence_Report.pdf
SHADES OF INDEPENDENCE: THE NEW WORKFORCE REALITY
MBO Partners, the first company to provide year-over-year survey research on the independent workforce in America, has consistently depicted the headcount and sentiments of independent workers committed to their path with its annual MBO Partners State of Independence in America Report. To develop this comprehensive view of the independent workforce, more than 11,000 independent workers have been surveyed and hundreds more interviewed over the course of this multi-year study.
Executive Summary
The 2014 MBO Partners State of Independence Report — the company’s 4th consecutive census and attitudinal survey of the independent workforce – provides a snapshot of those who regularly work 15+ hours per week as an independent. The majority of these so-called “solopreneurs” are full-time, working more than 35 hours per week as independents. They continue to choose this path in spite of signs of economic recovery and increased traditional hiring.
In addition, the 2014 MBO Partners State of Independence Report builds on its traditional census of solopreneurs this year by expanding the headcount to include those part-time independents working side-gigs alongside traditional employment, retirement and/or family care activities. These “Side-Giggers” work fewer than 15 hours a week (less than half-time) as an independent on a recurring basis.
Together, these groups paint a more complete and nuanced picture of the population of independent workers in our nation — showing us for the first time the disparate realities hidden in the shades of independent work. Clear implications for workers, for hiring companies, for consumers and for those that study workforce policy and change are evident in the data on these related groups. What binds them together? Where do their experiences converge and pull apart? Why did each choose the path and will they stay on it? What is the total population growth? These questions, and more are answered in the 2014 MBO Partners State of Independence in America Report.
Executive Summary
The 2014 MBO Partners State of Independence Report — the company’s 4th consecutive census and attitudinal survey of the independent workforce – provides a snapshot of those who regularly work 15+ hours per week as an independent. The majority of these so-called “solopreneurs” are full-time, working more than 35 hours per week as independents. They continue to choose this path in spite of signs of economic recovery and increased traditional hiring.
In addition, the 2014 MBO Partners State of Independence Report builds on its traditional census of solopreneurs this year by expanding the headcount to include those part-time independents working side-gigs alongside traditional employment, retirement and/or family care activities. These “Side-Giggers” work fewer than 15 hours a week (less than half-time) as an independent on a recurring basis.
Together, these groups paint a more complete and nuanced picture of the population of independent workers in our nation — showing us for the first time the disparate realities hidden in the shades of independent work. Clear implications for workers, for hiring companies, for consumers and for those that study workforce policy and change are evident in the data on these related groups. What binds them together? Where do their experiences converge and pull apart? Why did each choose the path and will they stay on it? What is the total population growth? These questions, and more are answered in the 2014 MBO Partners State of Independence in America Report.
Subscribe to:
Posts (Atom)