Working to Live, Not Living to Work: Five Insights into the Gen X Workforce

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MBO Partners

Carrière Business

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 Zaino
President & CEO, MBO Partners

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Expert Speakers – Emergent Research
5
Steve King
Partner
Carolyn Ockels
Partner

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
6
0
20
40
60
80
100
Gen Y Gen X Boomers
Millions of People

Gen X Independents
• 5.9 Million Strong
• Roughly 50-50 Male/Female
• Average Income = $51,000
• Average Tenure as
Independent Workers = 9
years
7

Gen X: Choosing Independent Work
• Highest percentage of any
demographic group to choose
independence
8
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%

Gen X Independents Highly Satisfied
• Gen X is one of the most
satisfied demographic groups
and plans to stay
independent
9
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%

Gen X Adds “On-My-Terms” to the Job Equation
• Values the freedom, flexibility
and control that independent
work provides
10
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%

Gig Gurus
• Gen X sees and is reacting to
the shift to a gig economy
11
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%

Creative Pursuits Trump Money
• Gen X least likely to choose
independence for the money
and most likely to be in a
creative field
12
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%

Facing the Challenges of Independence
• Gen X are realists about the
challenges of independence
13
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%

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
14

For More Information:
http://www.mbopartners.com/state-of-
independence/independent-workforce-index.html
http://www.mbopartners.com/state-of-independence/index.html

For Additional Information on MBO Partners
17
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