03/29/2022

Workers No Longer a 9-to-5 Job Is a Safe Bet

Many believe independent work is less risky

For 11 years, as the research provider for the MBO Partners State of Independence Study series, we've been charting the growth, profile, desires and needs of the growing American independent workforce. These are self-employed consultants, freelancers, independent contractors, gig workers and others who work independently instead of having traditional full-time jobs. We recently found something surprising: An increasingly large majority of independent workers say that independent work is less risky and more secure than traditional employment.

Historically, job security — and the predictable income, attractive benefits, peace of mind, and career progression it represents — has been one of the main attractions of traditional full-time employment. Self-employment, or independent work, involves a series of trade-offs. You might gain greater autonomy or have more freedom to pursue a passion or work you enjoy, but you'll lose the steady paycheck, the camaraderie of coworkers and the support that companies large and small can provide.

In our 2021 survey of 6,240 U.S. workers, including 928 independent workers, 68 percent of independent workers responded to the statement "I feel more secure working independently" in the affirmative — up from 32 percent in 2011 and 53 percent in 2019.

Please select this link to read the complete article from Harvard Business Review.