2014 Will Be the Year of ‘BYOW’ as Companies and Workers Evolve Their Relationship, Approaches and Mindset About the Future of Work
HERNDON, VA–(Marketwired – December 16, 2013) – MBO Partners, the leader in the $250-billion and growing independent consulting sector in America, offers insight on the top three trends that will shape the American work and business landscape in 2014.
Prediction 1. From BYOD to BYOW. Following on the consumerization of IT with Bring Your Own Device (BYOD), MBO predicts the coming consumerization of talent as managers are empowered to bring their own worker (BYOW). In 2014, more professionals will be sourced for larger project needs from the cloud. BYOW will impact how organizations view both talent sourcing and management. Enterprise managers, leveraging managed contractor clouds, will be able to build their own teams and procure the help they need on a project-by-project basis. To realize this potential, Human Resources and Procurement will have to collaborate to meet the challenges of accommodating the democratization of talent while retaining governance to control the category spend and satisfy compliance requirements.
Prediction 2. Company as Partner – Not Parent. The employer-employee relationship will continue to evolve as companies shift out of their role as provider to become enablers. The traditional perks and benefits that were commonplace twenty years ago have evolved into companies focusing on enhancing the workplace experience with in-demand benefits such as flexible work spaces and paid time off to volunteer. In the past, benefits such as retirement, and healthcare could only be obtained through traditional employment, creating a job tether that was not easily broken. In 2014 benefit levels will shrink and companies will provide more self-source systems to employees for items traditionally associated with the employment contract — health, insurance and retirement benefits.
Prediction 3. Self- Help Employment. In this new era, workers will take a “build your own career” approach establishing greater responsibility and control over their work life. These burdens will challenge those seeking to transition to a self-employed professional mindset. From finding and buying benefits that are no longer offered by employers to defining their expertise and planning the trajectory of their career, self-help support for workers will rise alongside self-employment. We will see the emergence of new service industries to support these new burdens on the American worker — with professionals outsourcing back office and non-critical work functions so as to focus on their marketable expertise at accelerated rates.
“As the ball drops on 2013, American workers will move in larger droves to self-employment, with over 1 million more Americans joining the self-employed ranks in 2014 ” predicts Gene Zaino, CEO and President of MBO Partners. “American professionals are adjusting to a sea change in how work gets done. They need our support. In 2014, it’s time to wake up to the exciting possibility that American professionals have all the tools needed to be successful, self-employed business owners.”
About MBO Partners:
MBO Partners is recognized as the largest and most experienced provider supporting the $250 billion-and-growing independent contracting and consulting sector in America. Our services make it easy for independent contractors, consultants and their clients to do business. For self-employed professionals, MBO Partners manages their entire business infrastructure. Our technology platform includes a proprietary process to handle billing and revenue cycle management, contract administration, business insurances, expense management, tax withholding, health and retirement benefits and more. We couple this with the benefits of direct vendor access into enterprises and the “white glove” attention of a dedicated business manager. For organizations that use contract talent, MBO Partners provides a complete independent contractor aggregation and engagement offering, including compliance and payment solutions for 1099s, sole proprietors and micro-businesses. To learn more, visit https://www.mbopartners.com.
The following files are available for download: