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Working to Live, Not Living to Work: Five Insights into the Gen X Workforce

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Working to Live, Not Living to Work: Five Insights into the Gen X Workforce

  1. 1. Working to Live, Not Living to Work:Five Insights into the Gen XIndependent WorkforceSteve King: Partner, Emergent ResearchCarolyn Ockels: Partner, Emergent Research
  2. 2. ModeratorGene ZainoPresident & CEO, MBO Partners
  3. 3. We Make it Easy for Independent Consultants &Their Clients to Work Together3
  4. 4. Webinar Controls4The full screen iconmaximizes thepresentation area.The chat box allows youto send a question to thepresenter.The raise hand iconalerts the organizerthat you have aquestion or comment.
  5. 5. Expert Speakers – Emergent Research5Steve KingPartnerCarolyn OckelsPartner
  6. 6. Gen X• Born From 1965 to 1979• Current Age 33-48• Roughly 50 Million Americans• Came of Age During the“Great Moderation”• Known as the “SlackerGeneration” in the 90’s6020406080100Gen Y Gen X BoomersMillions of People
  7. 7. Gen X Independents• 5.9 Million Strong• Roughly 50-50 Male/Female• Average Income = $51,000• Average Tenure asIndependent Workers = 9years7
  8. 8. Gen X: Choosing Independent Work• Highest percentage of anydemographic group to chooseindependence8Gen x Not Gen XChose Independence 68% 51%Became Independentdue to factors beyondmy control10% 14%Unable to find atraditional permanentjob8% 15%Lost Job 13% 22%Inability to findemployment whenentering job market4% 18%
  9. 9. Gen X Independents Highly Satisfied• Gen X is one of the mostsatisfied demographic groupsand plans to stayindependent9Gen xSatisfied withIndependent Work88%Plan to Stay Independent 64%Plan to Build a BiggerBusiness12%Plan to seek a full-timejob12%
  10. 10. Gen X Adds “On-My-Terms” to the Job Equation• Values the freedom, flexibilityand control that independentwork provides10Gen x Not Gen XWork/Life Flexibility 57% 45%Control Career 60% 39%Work on Projects andTasks I like58% 42%Do What I Love 64% 47%
  11. 11. Gig Gurus• Gen X sees and is reacting tothe shift to a gig economy11Gen x Not Gen XSelf Describe as GigGurus54% 45%Self Describe asBusiness Owners30% 45%Get Work Due toSpecialized Skills83% 61%My Industry IncreasingRelies On IndependentWorkers64% 47%
  12. 12. Creative Pursuits Trump Money• Gen X least likely to chooseindependence for the moneyand most likely to be in acreative field12Gen x Not Gen XSelf Identified as an artistwriter or performer22% 10%Listed occupation ascreative/design12% 6%Media is primary industryserved17% 3%Choose independent workto make more money28% 38%
  13. 13. Facing the Challenges of Independence• Gen X are realists about thechallenges of independence13Gen x Not Gen XUncertain income stream 62% 51%Worry about retirement 50% 35%Worried about the future 34% 28%I feel more secure workingindependently than if I hada traditional job37% 40%
  14. 14. Looking to the Future• Gen X entering primeindependent work years• Coming war for talent favorsGen X independents• The appeal offreedom, control andflexibility is increasing• Continued growth in thecontingent workforce14
  15. 15. Questions and Discussion15
  16. 16. For More Information:http://www.mbopartners.com/state-of-independence/independent-workforce-index.htmlhttp://www.mbopartners.com/state-of-independence/index.html
  17. 17. For Additional Information on MBO Partners17• EMAIL US - info@mbopartners.com• VISIT our website - www.mbopartners.com• FOLLOW US on Twitter - @mbopartners• SIGN UP for out monthly newsletter - emailnewsletter@mbopartners.com
  18. 18. Thank you

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