Feedback from "Team-Rob" has been overwhelmingly positive! Thank you!
I asked the #LinkedInhivemind if there was any data that supports this perceived shift I have been experiencing with respect to #FractionalWork.
Here is a link to the original post and also the text of my question:
Two comments on this:
1. The article completely resonates with me and where I'm at and my recent journey and the experience of many in my network. That said I am an N=1 sample size so hard to tell if this is a trend or...
2. I wonder sometimes if the algorithms (LinkedIn, YouTube, Google News feed, ...) are feeding me a disproportionate amount of articles, links, and videos. Reinforcing my lived experience through confirmation bias.
Does anyone have objective references, studies, or broader statistics (maybe they don't yet exist) ...
All that said - I'm firmly in the #fractional camp. I feel like an early adopter but may come to find out am a late adopter as I learn more and more people are already on this path.
So I decided to try and do some digging on my own to find some answers
Here's what ChatGPT has to say about the trends
There isn't one specific data source that reflects the growth of fractional workers as a percentage of the total workforce, but there is some research that suggests that the use of fractional workers is increasing.
For example, a study by the World Economic Forum found that the gig economy has grown rapidly in recent years and that it now comprises approximately 40% of the total US workforce. This includes a variety of types of fractional work, including freelancers, independent contractors, and temporary workers.
Additionally, research by the Harvard Business Review found that the use of fractional C-suite executives, such as fractional CFOs and fractional CMOs, has been increasing in recent years as more companies look to bring in high-level expertise on a part-time basis.
Overall, while the exact percentage of fractional workers in the total workforce is difficult to determine, it is clear that the use of fractional workers is on the rise and is becoming an increasingly important part of the labor market.
Which leads to the next logical question: Where is all this going?
Again from ChatGPT
There are several predictions about what percentage of the workforce will be fractional in the future, but it's important to note that these are just estimates and that the actual percentage may be different.
According to a report by the International Labour Organization (ILO), the gig economy is expected to continue growing in the coming years, and it is estimated that by 2030, up to 40% of the global workforce will be working in some form of independent or gig work.
Other reports predict that the percentage of fractional workers will be even higher. For example, a study by McKinsey & Company estimated that by 2025, up to 60% of workers in developed countries could be engaged in independent work.
It's also worth noting that the COVID-19 pandemic has accelerated the shift towards remote work and independent contracting, which could further boost the growth of fractional work in the future.
Overall, while these predictions are just estimates, they suggest that fractional work is likely to become an increasingly important part of the labor market in the coming years.
Some interesting data from McKinsey (2016 - 7 years ago ... I wonder if they ever repeated this study?). All of the trends were on the increase and then COVID would have been a net accelerator I imagine.
