A recent survey has discovered a spike in independent workers this year. Up 12 percent from 2011, many of these independent workers, both part and full-time, are earning upwards of $100,000 per year. As these figures are expected to continue growing, Staffing Hiring Trends are adapting to accommodate the shift.
MBO Partner’s fifth annual “State of Independence in America 2015” survey defined independent workers as people 21 years old and older who work for themselves on a regular basis as freelancers, contractors, consultants, temporary and on-call workers and those working on fixed term employment contracts of less than a year. It evaluated 1,065 U.S. residents to determine the actual size of the workforce in combination with another survey that aimed to measure its characteristics.
According to the study, workers who earned more than $100,000 per year rose 45% in 2015 to 2.9 million. This equates to 16 percent of all full-time independent workers exceeding these earnings.
Some highlights of the survey include:
- Independent workers generated more than $1.5 trillion of revenue over the past year
- Millennials comprise 30 percent of full-time independent workers
- On average, full time independent workers have held that position for 8.8 years
- 45 percent of independents said they make more money than they would at a typical job
- 43 percent of independent workers report they have job security, more so than a traditional job
Although this spike may seem to indicate that more and more employees are branching out on their own rather than finding temporary positions, the demand for staffing agencies is still high. This is due to many freelancers and otherwise independent workers often needing to supplement their income during slower periods.
At World Wide Specialty Programs, we specialize in insuring the staffing industry. We understand that as the workforce changes and progresses, coverages need to adapt. Our customizable coverages seek to protect your agency, your practices, and your employees. For more information, we invite you to contact our experts today at (877) 256-0468.