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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