The reshuffling of work experienced in 2021 may be in the rearview mirror or the blind spot as organizations merge into the center lane or get off at a different strategy exit. No matter if the wave of workers quitting has ended, plateaued, or is gaining steam in another sector; there is talent on the sidelines. Just look at the latest job report and the gap between those who quit and those who were hired in Q4, 2021.  The Great Resignation has created the great migration of talent to become solopreneurs.

“The workforce shortage isn’t real, the talent hasn’t mysteriously disappeared. Company’s just need to expand talent supply sources across different channels and provide multiple ways for people to work,” said Terri Gallagher, CEO of Gallagher & Consultants who Sr. Executives trust to assess, design, and deploy agile alternative workforce solutions. “This is especially true regarding the explosive growth of Solopreneurs (someone who starts a business on their own); fueling the startup boom on the heels of the Great Resignation that is happening now.”

Enter the classification of the Solopreneur, who is only counted by the IRS in the number of EIN numbers published each month. As reported by ContingentWorkforce.com, the number of EIN numbers registered in 2021 experienced a 50% increase from the previous year.  A drive into entrepreneurism never seen before and a response to the draining processes, performance metrics based on project time rather than results, and lack of positive company culture slow-moving corporations instill into their full-time workforce.  

“Create and run a business the way I think the client/customer/consumer should be treated,” said Chris Katsulis, Real Estate Consultant with the C. THOMAS GROUP who left a full-time role in financial trading to become a self-starting, commercial and residential real estate broker. “Flexibility in schedules and being my own boss has created upsides in both my professional and personal life.”

It’s important to note that real estate brokers and agents seem like they’re employees for major companies. Overwhelmingly, a majority are classified as independent contractors (1099, corp-to-corp) and can only work for one company at a time. A still contentious subject in the industry, brokers are responsible for self-employment liabilities and share any revenue with the firm where they “hang their license.” That’s the reason being a self-starter in the real estate sector is the first major skill learned or carried over from another profession.

Chances are these workers who quit, set up EINs, and haven’t considered getting back into full-time employment are implementing their skills in the same sector they left. Or have taken their processes, business acumen, and executive presence to another sector.   Whatever the reason, employee classification is in the past and these solopreneurs wish to build a more transparent way of delivering product and client outreach.

Lou Calamaras, CCWP

Lou founded ContingentWorkforce.com in 2021 with the intention to bring global attention and innovation coverage to the external workforce sector. Spending the first decade of his career focused on niche B2B digital media production, Lou transitioned into Executive Recruiting and then global Contingent Workforce management, where in 2017 he earned the Certified Contingent Workforce Professional certificate. Lou’s career provided experience under multiple workforce classifications, whether as a contractor, sole proprietor, business owner, or employee. Lou lives in the Chicagoland area, where he is active in several local communities and volunteers for Meals on Wheels. When not working you’ll find him excited to spend time with his wife and rough-housing with his two boys. If you are interested in how the audience of ContingentWorkforce.com can help your organization, please send Lou a message. Lou@ContingentWorkforce.com