Free Agency (Express Exec)

109 Pages·2006·0.89 MB·English

by  Richard Templar

Free
Agency
Richard Templar
(cid:2)Fast track route to making the most of working solo
(cid:2)Covers all the key aspects of free agency,from finding and
using business advice to researching the market for your
skills,and from managing your cash flow to selling yourself
(cid:2)Packed with lessons and tips from people who have
successfully jumped the corporate ship and made rewarding
independent careers
(cid:2)Includes a glossary of key concepts and a comprehensive
resources guide
L
IF
1 E
0.08 & W
O
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CopyrightCapstonePublishing2002
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Introduction to
ExpressExec
ExpressExec is 3 million words of the latest management thinking
compiled into 10 modules. Each module contains 10 individual titles
formingacomprehensiveresourceofcurrentbusinesspracticewritten
by leading practitioners in their field. From brand management to
balancedscorecard,ExpressExecenablesyoutograspthekeyconcepts
behind each subject and implement the theory immediately. Each of
the100titlesisavailableinprintandelectronicformats.
Through the ExpressExec.comWebsite you will discover that you
canaccessthecompleteresourceinanumberofways:
» printedbooksore-books;
» e-content–PDForXML(forlicensedsyndication)addingvaluetoan
intranetorInternetsite;
» acorporatee-learning/knowledgemanagementsolutionprovidinga
cost-effectiveplatformfordevelopingskillsandsharingknowledge
withinanorganization;
» bespokedelivery–tailoredsolutionstosolveyourneed.
Whynotvisitwww.expressexec.comandregisterforfreekeymanage-
ment briefings, a monthly newsletterand interactive skills checklists.
ShareyourideasaboutExpressExecandyourthoughtsaboutbusiness
today.
[email protected].
Contents
IntroductiontoExpressExec v
10.08.01 IntroductiontoFreeAgency 1
10.08.02 WhatisFreeAgency? 9
10.08.03 TheEvolutionoftheFreeAgent 19
10.08.04 TheE-Dimension 31
10.08.05 TheGlobalDimension 39
10.08.06 TheStateoftheArt 47
10.08.07 InPractice:FreeAgentSuccessStories 57
10.08.08 KeyConceptsandThinkers 63
10.08.09 Resources 73
10.08.10 TenStepstoMakingFreeAgencyWork 85
FrequentlyAskedQuestions(FAQs) 101
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Introduction to Free
Agency
What exactly is free agency? How does a free agent differ from a
freelance?Thischapterconsidersthechangingnatureoffreeagentsin
amodernbusinessworld.
» Riseoffreeagency
» Whatitmeans
» Statisticsforgrowthinnumberoffreeagents
» Factorsdrivingtheshift
» Riseofindividualism
» Socialandeconomiccontext
» Whyworkforanorganizationwhenyoucanworkforyourself?
» Arefreeagentsanyhappier?
» Beingresponsibleforcareer
» Cancorporationsaccommodatefreeagents?
» Thenewchallenges
2 FREEAGENCY
‘‘MyprofessionalindependencemeansIlovewhatIdo,dowhatI
love,andneverwearpantyhoseorhairsprayagain.’’
ElaineBiech,presidentofthemanagementconsultingfirmEbb
AssociatesinPortage,Wisconsin,authorofTheConsultant’s
QuickStartGuide:AnActionPlanforYourFirstYearinBusiness
RISE OF FREE AGENCY
Ourknowledgeisconstantlychanging–andexpanding.Thesumofall
humanknowledgeisnowsogreatthatitcannolongerberecordedin
oneplaceorinoneformatorindeedevenstoredinonecountry.No
onehumanbeingcanlearnmorethanthemerestfractionofthatsum
ofhumanknowledge.
As managers we cannot know everything–that’s not our job. But
when we want something done we need to know who to call in to
getthatjobdone–thatisourrole:thefacilitator.Thefreeagentisthe
person with that bit of specialist knowledge that we need. We want
themtocomein,dothejobandgo.Wedon’tneedthemasfull-time
employees.We don’t need them to stick around and monitor things,
ourownpeoplecandothat.Wejustwantthemtobridgethegapin
our own knowledge and not hang around afterwards. These are the
freeagents.
WHAT IT MEANS
Sowhoarethesefreeagentsandwhatdotheydo?Well,wemightall
beusingdifferentwordstodescribethem–consultants,independent
professionals,e-lancers,freelancers–buttheyallprettywellconform
toanorm.Theyaretheprofessionalswhohaveleftthesafehavenofthe
corporationonamissionoftheirowntosearchoutamorerewarding
and enriching (both financially and job satisfaction-wise) career as a
self-employedindependentprofessional.Theyarethefreeagents.
STATISTICS FOR GROWTH IN NUMBER OF FREE
AGENTS
Theriseinthenumberoffreeagentsisstaggering.TheUSDepartment
of Labor reckons there are just under 9 million people who identify
INTRODUCTIONTOFREEAGENCY 3
themselves as free agents in America but that figure may be much
higher–ashighas30million–becauseoftheproblemsofspecifically
defining the terminology. What one calls a free agent another may
call a self-employed business person and a third may call a freelance
consultant.
If you band together all the workers under their separate banners
ofself-employed,freelance,independentprofessional,consultant,con-
tract worker, on-call worker, free agent, and such like, the resulting
statisticmaywellshowthataround25%ofallworkersinAmericaare
actuallyfreeagentsofsomesortoranother.
FACTORS DRIVING THE SHIFT
But whatever they are called, the trend is gaining momentum. The
reasonsforthiswewilllookatinmoredetaillater,butforthemoment
itissufficienttosaythatitacombinationoffactorsincluding:
» theimpactofnewtechnology;
» people’sdesireforincreasedpersonalchoiceintheirworkingprac-
tices;
» downsizing;and
» therevolutioninthejobs-for-lifescenario.
Moreover, it seems that corporations are as anxious as individuals to
capitalizeonthisgrowingtrend,asitallowsthemtobringinexperts
onashort-termfixedcontractbasis–bridgingtheignorancegap–and
thus avoiding the usual costs associated with hiring, recruiting, and
trainingfull-timemembersofstaff.
RISE OF INDIVIDUALISM
HenryFordcertainlyknewhowtomakethebestuseofhisworkforce.
Heunderstoodtheneedtoorganizelargepoolsoflaborsothatmass
production could be effective and efficient. And for a long while we
went along with it. We were happy to be sheep–albeit well looked
after and well nurtured, but sheep nevertheless. But not any more.
Henry Ford and his ilk represented the pinnacle of the industrial
revolution.Butinenslavingusin massproductionhe alsosowedthe