Think the economy is bad? Don’t look at independent contractors

Among advanced countries in the world, Americans have some of the longest work weeks. The Organization for Economic Co-Operation and Development ranks the United States at the bottom of countries with a work-life balance.

The bad news for companies and workers alike, is all this time spent “working” isn’t getting us anywhere. Gallup has estimated that U.S. companies lose between $450-$550 billion each year in productivity because so many workers have lost passion in their jobs.

These numbers are eye opening for all those who, understandably, thought working more hours was equivalent to higher productivity either for themselves or their employees.

However, increasingly, Americans are choosing to buck the status quo, become their own boss and go into business for themselves. These “solopreneurs” realize the tremendous value in living their life, their way. When you have the skills, knowledge and experience it takes to be successful, why allow any one employer to monopolize your talents and value?

Who are these trailblazers you ask? We know them as independent contractors and there are more than 10 million of them working every day in the U.S. In fact, $1 of of every $10 earned in America is coming from work related to independent contracting. Independent contracting is changing the way Americans do business, as well as our economy. More and more, business owners are depending on the work of independent contractors.

With so many men and women realizing the professional and personal benefits of doing what you love and loving what you do, this labor force has become one of the fastest growing in our economy. By 2020 more than half the U.S. workforce will be independent contractors. These knowledge workers are reinventing their work life to fit their personal life, not the other way around.

What is holding you back from spending more time with family or on the work you love?