Growth in independent work

Reading this highly relevant and interesting McKinsey Global Institute report about independent work, I learned, for example, this:

  • About 25% of the working age population are independent workers. Independent workers include people who are self-employed, people who do independent contractor work, people who work freelance, people who are small business owners, as well as people who do temporary work in and across a range of industries and have all kinds of skill levels.
  • Among key features of independent work are that independent workers 1) have a high degree of control and autonomy, a central theme in motivation, 2) are paid by task, assignment, contract, and/or sales and spans the full range of income levels, 3) work on short term assignments / limited duration.
  • Independent work is developing strongly, as digital platforms help independent workers connect with people who need their services. Four examples of platforms: 99designs, Teachers Pay Teachers, jovoto, and nachsitzen.
  • There is a strong improvement potential for private and public organizations of all sizes and in all industries to involve / include / invite external independent workers much more by using digital technologies better and more creatively. This change in thinking, which is going on right now across several industries, includes that people, who work for companies of all sizes, define a purpose for what you do and use social media and a variety of other platforms to involve as many people as possible around the world in helping to work for that purpose. Some examples of purpose of different companies.
  • Independent work creates new growth and bigger markets, for example by involving / engaging / including more people and creating new demand. By working transparently / communicating openly, people and companies open up / create more opportunities for more people.
  • A growing number of politicians / government employees / policy makers as well as innovators, academics, and other stakeholders are actively working on ways to provide, for example, minimum wage, healthcare benefits, retirement plans as well as other types of compensation / insurance solutions / benefits / social safety net for independent workers. The need is very large and urgent here, as many labor market policies are currently not in place for independent workers.