Starting Fresh - Time to be a Free Agent
At Reach Group we find that we are constantly reinventing. It’s part of our DNA. We love to crack codes and try to make sense of chaotic or confusing situations in the marketplace. Our latest project, The Free Agent Formula, tackles the latest trend happening in the workforce – the rise of the free agent workforce.
Presently, the economic recession and unemployment rate in our country trumps most other matters in the marketplace. Today’s CNN Money headline, “Stuck in a crappy job – tough,” seems to say it all. There are much fewer job openings than there are qualified applicants and for the “lucky” few who survived the layoffs, many are stuck doing more work for fewer benefits, perks and less pay. Professionals across industries are finding themselves either out of work and scrambling for a small number of jobs or feeling trapped in jobs that they are unsatisfied with.
“Fifty-four percent of employed Americans plan to look for a job once the economy rebounds, according to a survey from Adecco Group North America. The sentiment is even stronger among younger workers. Of those ages 18-29, 71% say they are likely to look for new jobs once the economy turns around, the survey said.”
So, how do Free Agents fit into the current workforce climate? Well, according to several news sources including TIME, NY Times, and Fortune (CNN Money), there has been a “seismic shift in the labor force away from traditional full-time jobs and toward contract work.” (Read “The Rise of Freelance Nation” here.) Now, more than ever before, companies of all sizes are moving towards an on-demand workforce that they can switch on and off like a light. According to the article, there are currently 42 million freelance, temporary or self-employed workers, roughly 31% of the U.S. job market. That number is expected to account for over 40% of the labor force by 2019.
What that means for you is that now is the time to start thinking and working like a free agent. Old wisdom taught us that job security and financial stability came from having a full-time job and employer. These days, however, security and stability comes from taking control of your work and having multiple income streams rather than a paycheck. Free agents offer specialized skills, services and/or products to a group of clients or customers, rather than relying on the whims of an employer who can let you go at any moment. (Think of a your stock investments – we know that having a diversified portfolio is essential to lowering risk. The same logic applies to your work.)
So, if you are one of the many people who are either out of work or looking to switch jobs, I challenge you to stop looking for another job and to start crafting your free agent life. You have a window of time to get ahead of the curve by carving out a niche and building a reputation as a credible expert in your field. As more and more businesses (large and small) switch to an on-demand workforce, the free agents that have a successful history will win the highest paying work and most exciting clients.
Don’t wait for your employer to make the decision for you. Start your free agent life today! To learn about The Free Agent Formula and to download the first chapter of our workbook, go to www.freeagentformula.com.
This post was written by Cassie Pruett
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