Working to Live, Not Living to Work: Five Insights into the Gen
X Independent Workforce
Steve King: Partner, Emergent Research
Carolyn Ockels: Partner, Emergent Research
Moderator
Gene ZainoPresident & CEO, MBO Partners
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Expert Speakers – Emergent Research
Steve KingPartner
Carolyn OckelsPartner
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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 “Slacker Generation” in the 90’s
Gen Y Gen XBoomers0
102030405060708090
Millions of People
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Gen X Independents
• 5.9 Million Strong
• Roughly 50-50 Male/Female
• Average Income = $51,000
• Average Tenure as Independent Workers = 9 years
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Gen X: Choosing Independent Work
• Highest percentage of any demographic group to choose independence
Gen x Not Gen X
Chose Independence
68% 51%
Became Independent due to factors beyond my control
10% 14%
Unable to find a traditional permanent job
8% 15%
Lost Job 13% 22%
Inability to find employment when entering job market
4% 18%
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Gen X Independents Highly Satisfied
• Gen X is one of the most satisfied demographic groups and plans to stay independent
Gen x
Satisfied with Independent Work
88%
Plan to Stay Independent
64%
Plan to Build a Bigger Business
12%
Plan to seek a full-time job
12%
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Gen X Adds “On-My-Terms” to the Job Equation
• Values the freedom, flexibility and control that independent work provides
Gen x Not Gen X
Work/Life Flexibility 57% 45%
Control Career 60% 39%
Work on Projects and Tasks I like
58% 42%
Do What I Love 64% 47%
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Gig Gurus
• Gen X sees and is reacting to the shift to a gig economy
Gen x Not Gen X
Self Describe as Gig Gurus
54% 45%
Self Describe as Business Owners
30% 45%
Get Work Due to Specialized Skills
83% 61%
My Industry Increasing Relies On Independent Workers
64% 47%
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Creative Pursuits Trump Money
• Gen X least likely to choose independence for the money and most likely to be in a creative field
Gen x Not Gen X
Self Identified as an artist writer or performer
22% 10%
Listed occupation as creative/design
12% 6%
Media is primary industry served
17% 3%
Choose independent work to make more money
28% 38%
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Facing the Challenges of Independence
• Gen X are realists about the challenges of independence
Gen x Not Gen X
Uncertain income stream
62% 51%
Worry about retirement
50% 35%
Worried about the future
34% 28%
I feel more secure working independently than if I had a traditional job
37% 40%
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Looking to the Future
• Gen X entering prime independent work years
• Coming war for talent favors Gen X independents
• The appeal of freedom, control and flexibility is increasing
• Continued growth in the contingent workforce
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Questions and Discussion
For More Information:
http://www.mbopartners.com/state-of-independence/independent-workforce-index.html
http://www.mbopartners.com/state-of-independence/index.html
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