The Free Agent Workforce

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Presentation made to present the latest trends on the free agent workforce in U.S.

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The Free Agent Workforce

  1. 1.    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.  
  2. 2.     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  
  3. 3. %  OF  WORKING  POPULATION    BY  WORKSTYLE  CLASSIFICATION    Numbers  are  on  the  rise    for  every  type  of  free    agent    
  4. 4. GROWTH  OF  FREE  AGENCY  BY  GENERATION    Numbers  are  on  the  rise  across  all  genera:ons    
  5. 5. FREE  AGENTS  BY  TYPE    Freelancers  working  on  their  own  and  independent  contractors  make  up  the  largest  share  of  free  agent  workers    
  6. 6. FREE  AGENT  WORKERS  BY  GENERATION    The  propensity  to  work  as  a  free  agent  increases  as  a  worker  progresses  in  his  or  her  career    
  7. 7. EDUCATION  AND  SKILL  LEVELS    Free  agents  are  well  educated  and  highly  skilled    
  8. 8. REASONS  FOR  CHOOSING  THE  FREE  AGENT  WORKSTYLE    73%  voluntarily  choose  the  free  agent  workstyle  because  they  value  the  freedom,  flexibility  and  entrepreneurial  benefits    
  9. 9. ECONOMIC  IMPACT    The  economy  influences  the  free  agent  popula:on  
  10. 10. 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    
  11. 11. FREE  AGENT  EMPLOYMENT  SATISFACTION  LEVELS  2011  VS.  2008    Free  agents  are  more  sa:sfied  with  their  employment  situa:on  than  they  were  in  2008    
  12. 12. FACTORS  INFLUENCING  THE  SELECTION  OF  PROJECTS  OR  ASSIGNMENTS    Free  agents  are  aGracted  to  the  work  
  13. 13. 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  
  14. 14. 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      
  15. 15. 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  
  16. 16. 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.      

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