Diversity Woman Magazine

SUM 2017

Leadership and Executive Development for women of all races, cultures and backgrounds

Issue link: https://diversitywoman.epubxp.com/i/813543

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Page 28 of 51

d i v e r s i t y w o m a n . c o m S u m m e r 2 0 1 7 D I V E R S I T Y W O M A N 27 By Katie Morell I n spring of 2016, two professors— one from Harvard University, another from Princeton University—published a study titled "e Rise and Nature of Alter- native Work Arrangements in the United States, 1995–2015." e wide-reaching study, among the first of its kind, looked at the increasing popularity of the freelance— or gig—economy over the 20-year span. e results were shocking: in 2015, 9.4 million more people reported working Navigating the Freelance Economy in freelance capacities than in 2005, ac- counting for 15.8 percent of the work- force, up from 10.1 percent in 2005. e spike is a decidedly new trend; according to the study, just 9.3 percent of workers were freelance in 1995. ese numbers translate directly to how business owners are running their companies. Hiring someone in a free- lance or contract capacity is now more common than ever and, in the case of small businesses, is often preferred to avoid paying payroll taxes, unemploy- ment taxes, and other benefits. According to many estimates, 50 per- cent of the US workforce will be working in a freelance capacity by 2020. is isn't just Uber drivers, Task- Rabbiters, and people who rent their homes on Airbnb. Today, freelance workers operate from entry-level roles all the way up to the C-suite (there are agencies that place How to be a pro at managing contract workers Take the Lead THINKSTOCKPHOTOS We Mean Business >

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