Contractors report increases in happiness, job satisfaction and wellbeing in annual IPro Index
Life as a white collar contractor keeps getting better
Sydney, 21 September 2011 – Australia's white collar contractors (referred to as Independent Professionals or IPros by Entity Solutions) in 2011 have shrugged off the economic and employment uncertainties of the past two years to record increasing levels of psychological and emotional wellbeing from their work. An overwhelmingly enthusiastic group, more than four in five IPros report being proud of the work they do, enjoy being immersed in their work and say they are happiest when working intensely. These are among the key findings in the latest IPro Index, an annual research project conducted by Monash University and sponsored by Entity Solutions.
The attitudinal study found an increasingly upbeat outlook among the IPros compared to 2010, with positive increases being recorded in the areas of wellbeing, perceived support from client and industry-affecting trends.
Overall, working as an IPro emerges as not only a preferred lifestyle but also one which offers a sustainable way of working. The study notes that there is a strong and positive relationship between being in a desired work arrangement, job satisfaction and superior performance. The increasing levels of contentment therefore represent a very consistent and positive result for the companies that engage IPros’ services.
Matthew Franceschini, CEO of Entity Solutions, said “In a market that is fundamentally shifting towards assignment and project-based work, it's time we began to understand the motivators and behaviours of the people carrying out these roles. IPros bring a great deal of vigour, dedication, absorption and professional efficacy to their tasks. It's not hard to see why some companies are serial users of them. They realise the benefits of tapping into this enthusiasm and energy.”
In addition to performing specific contracted roles, IPros are also becoming a key source for knowledge sharing and knowledge transfer among their clients. For example, during their last project, 75 percent of IPros provided “regular” or “a lot of” progress reports, and 74 percent provided “regular” or “a lot of” project results. This degree of reporting suggests that IPros are engaged in far more than highly- defined functionary tasks and that they are performing important roles within organisations where they are often called upon to provide their expert knowledge.
For the majority of IPros, the decision to become a contract professional is the result of a conscious choice driven by positive lifestyle and workplace factors including the perceived potential to earn more, a sense of freedom, variety in work and flexible hours. Most state that negative “push factors” such as being laid off, job loss, difficulty in finding permanent work or a tight labour market have played no role in their decision to engage in professional contracting work.
With the inaugural index now three years ago, trends in key IPro attitudes and indicators are starting to emerge. During a time when Australia's economy has fluctuated and workforce security has taken a battering, IPros have reported an increase in satisfaction with their contracting lifestyles, growing from 7.3 out of ten in 2009 to 7.4 in 2011. Wellbeing has also grown – from 7.7 in 2009 to 8.1 today. Commitment to current client has dipped slightly, but almost one third of IPros in 2011 say they would be happy to spend the rest of their career working with their current client, and around two-thirds report experiencing a sense of commitment to their client. Notably, since 2009 the attitudinal impact of external industry trends has lessened, perhaps as a result of the IPros ability to take change in their stride. In general, IPros are confident that finding work in their current geographical area would be relatively easy, however they acknowledge that finding better work would be more difficult.
Vertical market differences
Analysis of participant responses by the five most represented industries – Information Technology & Telecommunication (IT&T), Mining/Engineering, OH&S/Recruitment/HR, Admin/Office; and Accounting/Banking/Finance – shows that in some areas, IPros hold markedly different attitudes. Highlights include:
· IT&T IPros;
◦ are more likely to turn to contracting for the perceived ability to earn more and for the sense of freedom
◦ report the third highest levels of overall job satisfaction and wellbeing
◦ report the highest score for knowledge sharing and say they regularly share project information with their colleagues
· Mining/Engineering IPros;
◦ are most motivated by money, variety of work and flexible hours
◦ are the most confident that they could find new contract work with another organisation that is as good as their current contract
· OH&S/Recruitment/HR IPros;
◦ more than half of this group (53%) turned to contracting because they sought a greater variety of work
◦ report the highest level of job satisfaction, and the highest scores for work engagement and self-efficacy
◦ score highest for their commitment to their current client
◦ report the highest score for perceived support from the client
◦ are the most optimistic that they could find new contract work that is better than their current contract
· Accounting/Banking/Finance IPros;
◦ are driven by flexible hours, the variety of work and the sense of freedom
◦ are also being pushed into contracting due to the tight labour market
· Admin/Office IPros;
◦ are more likely than any other group to have entered contracting due to “push” factors including job loss, difficulty in finding work, because their job ceased or they were made redundant.
◦ typically report indifferent to slightly positive job satisfaction
◦ scored lowest for wellbeing
◦ averaged an indifferent level of commitment to their current client and were similarly indifferent in their perceptions of support being provided to them by the client
“The world of the IPro is eloquently captured in the tension between the theme songs our respondents nominated for themselves this year - “I will survive” by Gloria Gaynor and “What a wonderful world” by Louis Armstrong. When put into the context of the results we have now gathered for three years, we clearly see the empowering nature of working as an IPro – illusions of security and safety are stripped away and the individuals control and clear focus on just who and what they are as a professional emerges. The contract workforce is a powerful and compelling workforce that organisations need to know more about and understand to unleash this potential.” Dr Tui McKeown, Senior Lecturer of Monash University, said.
About the IPro Index 2011
The information in the IPro Index was compiled from online surveys completed by 375 white collar professional contractors across Australia during July 2011. This year's IPro Index is the third in an annual series designed to elicit the attitudes, motivations and challenges facing Australia's professional contractors.
About Entity Solutions
Servicing Australia nationally with offices in Melbourne, Sydney, Brisbane and Perth, Entity Solutions is Australia’s leading professional engagement (contractor management) services organisation.
The company provides holistic engagement, management and value add services for white collar contractors (referred to as Independent Professionals/IPros by Entity Solutions) and the organisations engaging them. Entity Solutions also offer migration, back office, business establishment and management services.
Entity Solutions maximises financial rewards for our stakeholders and ensures that all parties have a compliant, risk free and fully optimised relationship, so that they can enjoy the freedom and control needed to focus on what they do best.
Our proven, multiple award winning service is offered through five distinct service divisions:
· Corporate Solutions contract workforce engagement services for organisations
· Independent Professional Solutions white collar contractor engagement services for individuals
· Agency Solutions contract workforce engagement services for recruitment agencies
· Migration Solutions migration services for individuals and organisations
· Business Solutions establishment, management and improvement services for small to medium businesses
For further information please contact:
David Bass
Bass Public Relations
T: 02 9922 6820
M: 0416 017 194
E: david@basspr.com.au
The attitudinal study found an increasingly upbeat outlook among the IPros compared to 2010, with positive increases being recorded in the areas of wellbeing, perceived support from client and industry-affecting trends.
Overall, working as an IPro emerges as not only a preferred lifestyle but also one which offers a sustainable way of working. The study notes that there is a strong and positive relationship between being in a desired work arrangement, job satisfaction and superior performance. The increasing levels of contentment therefore represent a very consistent and positive result for the companies that engage IPros’ services.
Matthew Franceschini, CEO of Entity Solutions, said “In a market that is fundamentally shifting towards assignment and project-based work, it's time we began to understand the motivators and behaviours of the people carrying out these roles. IPros bring a great deal of vigour, dedication, absorption and professional efficacy to their tasks. It's not hard to see why some companies are serial users of them. They realise the benefits of tapping into this enthusiasm and energy.”
In addition to performing specific contracted roles, IPros are also becoming a key source for knowledge sharing and knowledge transfer among their clients. For example, during their last project, 75 percent of IPros provided “regular” or “a lot of” progress reports, and 74 percent provided “regular” or “a lot of” project results. This degree of reporting suggests that IPros are engaged in far more than highly- defined functionary tasks and that they are performing important roles within organisations where they are often called upon to provide their expert knowledge.
For the majority of IPros, the decision to become a contract professional is the result of a conscious choice driven by positive lifestyle and workplace factors including the perceived potential to earn more, a sense of freedom, variety in work and flexible hours. Most state that negative “push factors” such as being laid off, job loss, difficulty in finding permanent work or a tight labour market have played no role in their decision to engage in professional contracting work.
With the inaugural index now three years ago, trends in key IPro attitudes and indicators are starting to emerge. During a time when Australia's economy has fluctuated and workforce security has taken a battering, IPros have reported an increase in satisfaction with their contracting lifestyles, growing from 7.3 out of ten in 2009 to 7.4 in 2011. Wellbeing has also grown – from 7.7 in 2009 to 8.1 today. Commitment to current client has dipped slightly, but almost one third of IPros in 2011 say they would be happy to spend the rest of their career working with their current client, and around two-thirds report experiencing a sense of commitment to their client. Notably, since 2009 the attitudinal impact of external industry trends has lessened, perhaps as a result of the IPros ability to take change in their stride. In general, IPros are confident that finding work in their current geographical area would be relatively easy, however they acknowledge that finding better work would be more difficult.
Vertical market differences
Analysis of participant responses by the five most represented industries – Information Technology & Telecommunication (IT&T), Mining/Engineering, OH&S/Recruitment/HR, Admin/Office; and Accounting/Banking/Finance – shows that in some areas, IPros hold markedly different attitudes. Highlights include:
· IT&T IPros;
◦ are more likely to turn to contracting for the perceived ability to earn more and for the sense of freedom
◦ report the third highest levels of overall job satisfaction and wellbeing
◦ report the highest score for knowledge sharing and say they regularly share project information with their colleagues
· Mining/Engineering IPros;
◦ are most motivated by money, variety of work and flexible hours
◦ are the most confident that they could find new contract work with another organisation that is as good as their current contract
· OH&S/Recruitment/HR IPros;
◦ more than half of this group (53%) turned to contracting because they sought a greater variety of work
◦ report the highest level of job satisfaction, and the highest scores for work engagement and self-efficacy
◦ score highest for their commitment to their current client
◦ report the highest score for perceived support from the client
◦ are the most optimistic that they could find new contract work that is better than their current contract
· Accounting/Banking/Finance IPros;
◦ are driven by flexible hours, the variety of work and the sense of freedom
◦ are also being pushed into contracting due to the tight labour market
· Admin/Office IPros;
◦ are more likely than any other group to have entered contracting due to “push” factors including job loss, difficulty in finding work, because their job ceased or they were made redundant.
◦ typically report indifferent to slightly positive job satisfaction
◦ scored lowest for wellbeing
◦ averaged an indifferent level of commitment to their current client and were similarly indifferent in their perceptions of support being provided to them by the client
“The world of the IPro is eloquently captured in the tension between the theme songs our respondents nominated for themselves this year - “I will survive” by Gloria Gaynor and “What a wonderful world” by Louis Armstrong. When put into the context of the results we have now gathered for three years, we clearly see the empowering nature of working as an IPro – illusions of security and safety are stripped away and the individuals control and clear focus on just who and what they are as a professional emerges. The contract workforce is a powerful and compelling workforce that organisations need to know more about and understand to unleash this potential.” Dr Tui McKeown, Senior Lecturer of Monash University, said.
About the IPro Index 2011
The information in the IPro Index was compiled from online surveys completed by 375 white collar professional contractors across Australia during July 2011. This year's IPro Index is the third in an annual series designed to elicit the attitudes, motivations and challenges facing Australia's professional contractors.
About Entity Solutions
Servicing Australia nationally with offices in Melbourne, Sydney, Brisbane and Perth, Entity Solutions is Australia’s leading professional engagement (contractor management) services organisation.
The company provides holistic engagement, management and value add services for white collar contractors (referred to as Independent Professionals/IPros by Entity Solutions) and the organisations engaging them. Entity Solutions also offer migration, back office, business establishment and management services.
Entity Solutions maximises financial rewards for our stakeholders and ensures that all parties have a compliant, risk free and fully optimised relationship, so that they can enjoy the freedom and control needed to focus on what they do best.
Our proven, multiple award winning service is offered through five distinct service divisions:
· Corporate Solutions contract workforce engagement services for organisations
· Independent Professional Solutions white collar contractor engagement services for individuals
· Agency Solutions contract workforce engagement services for recruitment agencies
· Migration Solutions migration services for individuals and organisations
· Business Solutions establishment, management and improvement services for small to medium businesses
For further information please contact:
David Bass
Bass Public Relations
T: 02 9922 6820
M: 0416 017 194
E: david@basspr.com.au
