Many of us have chosen to be independent meeting planners within the hospitality industry which is an exciting, challenging and rewarding career choice. For those of us in this profession and for those considering it, I came across the following data which shows that we are in good company as an independent contractor.
There are 16 million independent workers in the United States today.
More than 20 million are forecast to be independent in 2013.
- Source:MBO Partners
Alternative workers accounted for approximately $626 billion in personal income in 2010, or about one in every eight dollars earned.
82.3 percent of independent contractors prefer an independent or alternative work arrangement to being an employee.
9.1 percent would prefer an employment management.
- Source:The Bureau of Labor Statistics
Who Are They?
47% Male
53% Female
30% Boomers (4,746,228)
12 % Gen Y (1,895,306)
10% Matures (1,513,059)
Average age of 30-49; nearly half have a college degree.
- Source:MBO Partners
Why Do They Do It?
Self employed workers are “significantly more satisfied with their jobs than other workers. They’re also more likely to work because they want to and not because they need a paycheck.”
- Source:Pew Research Center
58% of independent workers are highly satisfied. Here’s why:
- 75% say doing something they like is more important to them than making the most money.
- 74% say they like an occupation where it is easy to tell when they’re making a difference for someone.
- 67% say flexibility is more important to them than making the most money.
In addition, independent contracting often serves as a steppingstone to entrepreneurship and small business formation.
- Source:MBO Partners
Being an independent meeting planner, business owner and entrepreneur offers the greatest privilege of all – FREEDOM. People start their own business for many reasons…but mainly it is the freedom of working on your own, having more time to spend with family and friends, financial freedom and just the freedom of knowing you are in charge of your own life. Freedom seems to be the main motivator.
What do you enjoy about being an independent meeting planner?
Have you had a chance to download your free guide “Taking Charge of Your Hospitality Career and Your Income”? If you haven’t, all you have to do is sign up on the right side of this page and you will immediately receive your copy.
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