Independent workforce continues to grow, generating $1.3T in revenue 

independent workers economic contribution

From HRDive, Valerie Bolden-Barrett discusses the recent report from MBO Partners that shows independent workers contributed $1.3 trillion to the economy in 2017. Valerie writes:

Independent workers, also known as contingent or gig workers, have garnered a great deal of attention as of late. Some reports predicted that independent workers will outnumber those in traditional jobs by 2027. But a recent U.S. Bureau of Labor Statistics report indicated that the growth in independent workers had actually fallen somewhat since 2005, prompting some confusion throughout the industry.

Regardless, studies indicate that more employers plan to hire independent workers to fill jobs requiring specialized skills and to adjust staffing needs based on labor market changes, especially in a time of low unemployment. Some employers say they intend to turn as much as a third of their traditional full-time positions into contingent jobs.

Based on a 2017 ManpowerGroup study, 94% of employees said they’re open to a nontraditional work arrangement. With such a high percentage of people being willing to work for themselves, employers could see more independent workers available for hire in the next few years — and as such, may need to reconsider how they manage an increasingly complex worker arrangement. Many employers don’t have an accurate understanding of who works for them, experts previously told HR Dive, and that will have to change if an employer wants to move quickly in this market.

Read the full story at  Independent workforce continues to grow, generating $1.3T in revenue | HR Dive

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.