5 Things to Know About the Modern Independent Worker

MBO Partners’ 2024 State of Independence report found that there have never been more people working independently—more than 72 million Americans reported working as part-time, occasional, or full-time independents. There is a growing demand for independent talent, who are well-positioned to provide companies with flexible, on-demand expertise.

As more people recognize independent work as a viable alternative to traditional jobs, the pool of available talent for enterprises continues to grow. Below, we highlight five key findings about the modern independent worker.

The Modern Independent Worker Defined

1. Autonomy and Flexibility Are Important

One of the main reasons people choose independent work is the chance to be their own boss. Independent workers highly value flexibility, the ability to control what they do, and having autonomy. These factors are often more important than financial rewards, with over 60% of independents saying personal growth is essential for their independent journey.

For companies working with independent workers, these values are crucial to consider. Since control is so important to most independents, they prefer to work with businesses that understand the need for flexibility and allow them to complete their tasks the way they choose. Companies may accidentally lose skilled talent if they try to impose too much control or add too many restrictions to a contract.

Discover: How to Attract Top Independent Talent: Tips on Becoming a Client of Choice

2. The Majority of Independents Are Satisfied With Their Work

Most independents choose this work style and report being very satisfied with it. In fact, 65% of independents said they feel more confident and secure working independently.

Meanwhile, 84% percent of independents say they are happier working for themselves, and 79% believe it’s better for their health. Because of this, many have little interest in returning to a traditional job. As more businesses see the advantages of independent talent and workforce flexibility, we expect this group of workers to keep growing in the years ahead.

See: Achieve Workforce Agility by Engaging Independent Contractors

3. The Use of Talent Marketplaces to Find Work Is Increasing

The growth of the independent workforce has gone hand-in-hand with the rise of technology that supports it. Talent marketplaces that help companies find, recruit, and manage independents, along with tools for remote work, have rapidly improved in recent years. This is an exciting trend that makes it easier for talent and clients to connect and collaborate effectively.

Marketplaces like MBO’s help companies match labor needs with available talent, reduce hiring time, and cut recruiting costs. These technologies also help automate time-consuming tasks like onboarding, payments, and documentation.

Learn More: How to Achieve Workforce Agility By Working With Independent Talent

4. More Independents Are Working With One Another in Teams

Another benefit of these technological advances is that independent professionals can now collaborate in teams. Going back to the 2023 edition of our survey, 25% of independents reported teaming up with other independent workers or microbusinesses, and 28% plan to do so in the next 2-3 years.

Working in teams allows independents to act like larger consulting firms, offering a variety of services or taking on bigger contracts at a lower cost for clients. A team of skilled independents can provide an organization with multiple perspectives, resources, and a broader range of knowledge.

Check Out: Benefits and Methods for Forming Teams of Independent Talent

5. Lack of Predictable Income Remains a Challenge

In addition to understanding why people choose independent work and how they prefer to work, it’s also important to be aware of the challenges they face. The most common challenge for independents is lack of predictable income, followed by concerns about finding their next job or project.

If your company can help ease some of these concerns, you might be in a better position to attract and keep the talent you need. One way to support independents in maintaining a steady flow of work is by creating talent communities. A talent community is an opt-in database or cloud-based platform where talent can connect with one another and collaborate with your company. This group includes people who have worked for your company before or those you would like to work with in the future. As part of a talent community, independents can stay in close contact with hiring managers, making it easier for them to transition to new projects.

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