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
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
"WineSOFT is a software company making proxy server software, which is widely used in the telecommunication industry or the content delivery networks or e-commerce," explained Jonathan Ahn, COO of WineSOFT, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
"Digital transformation - what we knew about it in the past has been redefined. Automation is going to play such a huge role in that because the culture, the technology, and the business operations are being shifted now," stated Brian Boeggeman, VP of Alliances & Partnerships at Ayehu, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...