Strong Desire for Self-Employment Could Challenge Corporate Employment

As the economy turns the corner and employment opportunities strengthen, American employers may face challenges attracting workers who have found satisfaction in self-employment and holding on to current employees who aspire to work for themselves, reports a national poll of workers released today by Hudson.

The survey reveals that an emerging class of entrepreneurs benefits from the stability of engagements with large companies and government organizations without being tethered to a traditional employment relationship. About a quarter of the self-employed derive income from these entities, representing more than 9 million workers. A majority of self-employed respondents (62 percent) report previous employment in the private sector.

The poll reports that almost three-quarters of entrepreneurial America - those who classify themselves as self-employed or as the owners of small businesses - say that being self employed is their dream job. Nearly half of employees who currently work for private companies say self-employment is their dream job as well. Both these groups believe that entrepreneurs have more opportunity for career and income growth, the survey reports, with 60 percent of entrepreneurs and half of private sector employees saying so.

"Companies will have to rethink their approach to attracting and retaining talent, giving more consideration to the benefits of entrepreneurship and getting creative about how they structure employment," said Jeff Anderson, senior vice president of Hudson Global Resources. Anderson notes that independent contractors and small business owners are increasingly seeking to establish outsourcing partnerships with Hudson and other corporations as a means to increase flexibility, gain exposure to new technologies, and enhance their income stream. "The more appealing self-employment becomes, the more corporations will need to adjust internal human resources practices."

Hudson, one of the world's leading professional staffing, outsourcing and human capital solution providers, also publishes the Hudson Employment Index, the first monthly measure of employee attitudes on critical work issues, including career opportunities, job satisfaction and workplace performance. Next month's Hudson Employment Index will be released on June 2, 2004.

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