free agent (-‐noun) 1. An individual who freelances, consults, does temporary or contract work, or has their own business. tradi+onal employee (-‐noun) 1. An individual who is directly employed by an organiza@on or company.
30 – 35%Yes, the free agent workstyle is on the rise. IS THE PREDICTED PROPORTION OF FREE AGENTS IN THE U.S. WORKING POPULATION ONCE THE LABOR MARKET RECOVERS 44% OF THE CURRENT ACTIVE WORKFORCE IN THE U.S. ARE FREE AGENTS 70% INCREASE SINCE 2008
% OF WORKING POPULATION BY WORKSTYLE CLASSIFICATION Numbers are on the rise for every type of free agent
GROWTH OF FREE AGENCY BY GENERATION Numbers are on the rise across all genera:ons
FREE AGENTS BY TYPE Freelancers working on their own and independent contractors make up the largest share of free agent workers
FREE AGENT WORKERS BY GENERATION The propensity to work as a free agent increases as a worker progresses in his or her career
EDUCATION AND SKILL LEVELS Free agents are well educated and highly skilled
REASONS FOR CHOOSING THE FREE AGENT WORKSTYLE 73% voluntarily choose the free agent workstyle because they value the freedom, ﬂexibility and entrepreneurial beneﬁts
ECONOMIC IMPACT The economy inﬂuences the free agent popula:on
WHO IS MORE SATISFIED? Free agents agree that their workstyle gives them more control over their careers and provides more opportuni:es to build their skills
FREE AGENT EMPLOYMENT SATISFACTION LEVELS 2011 VS. 2008 Free agents are more sa:sﬁed with their employment situa:on than they were in 2008
FACTORS INFLUENCING THE SELECTION OF PROJECTS OR ASSIGNMENTS Free agents are aGracted to the work
SOURCES OF WORK Free agents u:lize many resources, but referrals top the list 45% of Gen Y free agents work with the assistance of a staﬃng or recrui:ng ﬁrm
Free agents represent a growing part of the workforce FROM AN ECONOMIC PERSPECTIVE FROM A WORKER’S PERSPECTIVE FROM AN EMPLOYER’S PERSPECTIVE Start-‐ups are good for the economy Barriers are fading Focus on closing talent gaps and building a talent pipeline Dual-‐working families provide security plus ﬂexibility Compe::ve pressures are driving need for greater ﬂexibility The economy has sparked new considera:on Making the most eﬃcient use of talent is seen as a compe::ve advantage New technologies are fostering the needed connec:on Need new strategies to retain key skills and knowledge APtudes toward work have changed Interested in leveraging technology to foster The workforce is aging new ways to work
Recommenda:ons To adapt to the free agent workstyle trend, To capitalize on the free agent workstyle trend, organiza+ons should: employers need to increasingly: 1. Forgo tradi:onal percep:ons 1. Ensure free agents are included in their overall workforce strategy 2. Be open to a variety of worker popula:ons 2. Gain visibility into all free agents working on their behalf 3. Think broadly when building their strategy 3. Evaluate departments, posi:ons and projects within their companies to see how they would beneﬁt from free agent talent 4. Learn new ways to acquire, manage and engage 4. Understand the importance of their employer brand 5. Clarify the work process 5. Develop op:ons for current employees 6. Re-‐educate their people 6. Understand the importance of properly classifying free agent workers 7. Evaluate their workforce solu:ons partner to ensure that they are experts in the free agent popula:on
SURVEY METHODOLOGY The 2011 Free Agent research was conducted online by Inavero on behalf of Kelly Services among a representa:ve sample of adults ac:ve in the U.S. workforce.