The make-up to today’s working population reflects 4 very different generations:
Boomers are used to working, and as they live longer many are not yet ready to fully retire. They also have a significant amount of industry and organizational knowledge to pass on.
Gen Xers have always valued a work/life balance and are embracing this new way of working, especially as more and more face taking care of both children and parents. They value advancing their careers over growth within a specific company, particularly since many see senior management in a less than favorable light.
Gen Y/Millennials are typically independent at work, preferring to determine how to do things themselves. They are much more aware of the ethics and social responsibilities of who they work for and see no reason to stay with an organization that does not provide them with opportunities to learn and grow.
Gen Z is just entering the workforce. They are ambitions and natural entrepreneurs, while also being highly tech savvy and quick to learn new skills.
While each is unique in its strengths, it is easy to see why Freelancing, Solopreneurship, Nonprofits, and Small Businesses are becoming a preferable alternative to big business.