Welcome!

News Feed Item

National Study Reveals Baby Boomer Surge in Independent Employment

MBO Partners State of Boomer Independence Report Shows Segment is Highly Satisfied, Well Compensated and Growing; Eight Million Boomers Considering Independent Work

HERNDON, VA -- (Marketwire) -- 04/02/12 -- MBO Partners, the leader in the $250-billion and growing independent consulting sector in America, today released for the first time a new, proprietary report on the state of Boomer independent workers in America. The Boomer Report, a newly released phase of MBO's landmark Independent Workforce Index, shines the light for the first time on a pioneering, self-satisfied and growing pool of independent workers, who today account for one-third (5 million) of America's career independents. The Baby Boomer independent group tends to be more satisfied and earns a higher income than their younger counterparts working independently.

"In the face of recent financial uncertainty and a tumultuous job market, many in the Boomer generation have turned adversity into opportunity and taken charge of their lives by working independently," said Gene Zaino, CEO of MBO Partners. "MBO Partners has a front row seat to the rise of Boomer independents -- our own MBO Partners community spans all workforce generations, but over-indexes with Baby Boomer professionals. Expert, passionate, experienced and self-motivated, we find it no surprise that Boomers are leading a surge to independence. Our newly-released report shows that eight million Boomers are considering independent work. We project that within the next two years we will see the Boomer independent workforce grow by an additional 1.2 million."

A High Level of Satisfaction
The report reveals several key factors driving this trend, dispelling a common perception that Boomer independents are a byproduct of job loss during the Great Recession. Most Boomers (59%) actively chose the path to independence, like it and expect to continue in it for a long time. Of all individuals working in this sector they are among the most satisfied (85% report satisfaction and 70% report high satisfaction). The vast majority of Boomers plan to continue work as members of the growing independent workforce over the next three years -- only 8% expect to seek a traditional job.

"After working in corporate America for more than 20 years, I felt I had the skills to go into business for myself," said Marguerite Cole, an MBO Partners Boomer associate. "In 2009, I started my own business as an independent consultant and love being my own boss. With the newfound flexibility and control over my career, it would take quite a lot to bring me back to traditional employment."

The Benefits of Boomer Independence
Boomers enjoy being independent for a number of reasons, including:

  • Freedom and Flexibility: 79% of Boomers cite the freedom independent work offers as a key benefit. What's more, 77% state that freedom and flexibility are more important to them than money.
  • Being the Boss: 61% enjoy the benefits of making their own way, on their own terms with 60% responding they like being their own boss.
  • Making an Impact: 56% feel they have the knowledge base and skill set to make an impact in their field. 66% are college educated, and the median annual income is $77,000.

Facing & Embracing Challenges
Independent work is not without its challenges; 55% of Boomers are concerned about not having a consistent revenue stream and 37% worry about getting their next job. However, for most independents, the benefits of having control over their professional lives far outweigh the challenges.

The Future: More Independence for Boomers
The trend of independent work among the Boomer generation is poised for growth due to a variety of reasons. The high value Boomers place on work/life flexibility is a key driver, along with a strong interest in staying active, challenged and valued. Financial considerations factor into the decision, as well as weakened retirement plans and house values. At the same time, it has never been easier or cheaper to go independent. New technologies such as cloud-based services and mobile devices allow Boomers to quickly set up businesses and work from anywhere. For America's closely watched, much-debated Baby Boom generation, independent work enables new avenues for growth, innovation and influence. Instead of accepting a workforce decline, this generation is again taking charge by leading a new independent workforce boom.

If you are considering whether independent work is right for you, take MBO Partners' new quiz: "Are You Ready To Go Solo," http://info.mbopartners.com/are-you-ready-to-go-solo-quiz.html, and see if you get the green light for independence!

For full details on the report please visit: http://info.mbopartners.com/rs/mbo/images/MBO_Boomer_Report_Final.pdf

About the Study
Independent Workers are defined as people who work at least 15+ hours per week in non-traditional, non-permanent, full or part-time employment and includes workers who identify themselves as independent consultants, freelancers, independent contractors, self-employed, and on-call workers, among others. Two separate online surveys were conducted by Emergent Research (www.emergentresearch.com) and Rockbridge Associates (www.rockresearch.com) in July of 2011. 1144 residents of the U.S. responded to the first survey and the results were used to size the independent workforce and define the interest in becoming an independent worker by the general population. The data were weighted to reflect the demographics of the U.S. and the margin of error for this survey is +/- 3%. 601 Independent Workers responded to the 2nd survey and the results were used to profile their characteristics and motivations. The margin of error for the second survey is +/- 4%. In addition to the surveys, interviews were conducted with Baby Boomer independent workers. These interviews were used to provide qualitative insights on the survey results. All data cited in the study comes from the surveys unless otherwise noted.

About MBO Partners
For more than 25 years, MBO Partners has led the $250 billion-and-growing independent consulting sector in America. Our services make it easy for independent consultants and their clients to do business. For independent consultants, MBO Partners manages their entire business infrastructure. Our platform includes a proprietary process to handle contract administration, business insurances, health and retirement benefits, expense management, tax withholding, and more. We couple this with the benefits of direct vendor access into enterprises and the "white glove" attention of a dedicated business manager for every consultant. For organizations that use contract talent, the MBO Enterprise Solutions team provides a complete independent contractor aggregation and engagement offering, including compliance and payment solutions for 1099s, sole proprietors and micro-businesses. To learn more, visit: http://www.mbopartners.com.

For Additional Information, Please Contact:
MBO Partners Contact
Carolyn Adams
(415) 963-4174 ex.4
Carolyn(at)bordersgratehouse.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...