On-demand work is accelerating as part of the broad shift to self-employment. It is estimated that there are 3.2M on-demand economy workers in the U.S. this year and that the number will more than double by 2020. Working when you want is the point for a lot of people, whether you’re a Postmates courier delivering takeout or an MBA consulting through Hourly Nerd. Yet the freedom and flexibility of being self-employed comes with the shadow of a constant struggle for financial stability.
While there are new tools designed to ease the pain, such as QuickBooks Self-Employed, much more can be done to help businesses of one. Bringing the stability of traditional employment to the self-employed requires a new and different mindset.
Part of a series of lightning talks to consider what the broader ecosystem of benefits and services should look like in order to support the Workable Future. Talks and panel were part of the Institute for the Future’s Program: Positive Platforms for a Workable Future. http://bit.ly/1OLWtQP
Falcon Invoice Discounting: Empowering Your Business Growth
Lightening Talk for IFTF #workablefutures – Supporting the Self-Employed
1. Cassie Divine, Intuit
@divinecassie #workablefutures
Helping the
Self-EmployedThrive
Positive Platforms for a
Workable Future
Institute ForThe Future 10/5-6
3. …but it doesn’t come with one of these
Joe Employee
Earnings
Gross Pay 2,500.00
Deductions
Federal Income Tax
FICA – Medicare
Social Security
Health Insurance
Dental Insurance
401k
402.64
36.25
155.00
54.30
22.50
80.35
NET PAY $1,748.96
Your Employer
1234 Some Street
Palo Alto, CA 94301
Check Number: 00001
Pay Date: 10/5/15
PAY ***One thousand, seven hundred and forty eight dollars and 96 cents **************$1,748.96
To the Order of
Joe Employee
555 Some Street
Palo Alto, CA 94301
Self-Employment
1234 Freedom St.
Palo Alto, CA 94301
Check Number: 00001
Pay Date: 10/5/15
PAY ***One thousand, seven hundred and forty eight dollars and 96 cents **************$1,748.96
To the Order of
Joe Employee
555 Some Street
Palo Alto, CA 94301
4. What’s my real income? What are my tax obligations? Benefits?
Joe Employee
Earnings
Gross Pay 2,500.00
Deductions
Federal Income Tax
FICA – Medicare
Social Security
Health Insurance
Dental Insurance
401k
402.64
36.25
155.00
54.30
22.50
80.35
NET PAY $1,748.96
Your Employer
1234 Some Street
Palo Alto, CA 94301
Check Number: 00001
Pay Date: 10/5/15
PAY ***One thousand, seven hundred and forty eight dollars and 96 cents **************$1,748.96
To the Order of
Joe Employee
555 Some Street
Palo Alto, CA 94301
Jane Self-Employed
Earnings
Gross Pay 2,500.00
Deductions
Federal Income Tax
FICA – Medicare
Social Security
Health Insurance
Dental Insurance
401k
NET PAY $
Self-Employment
1234 Freedom St.
Palo Alto, CA 94301
Check Number: 00001
Pay Date: 10/5/15
PAY
To the Order of
Jane Self-Employed
555 Some Street
Palo Alto, CA 94301
9. Time is the currency. How could we maximize (& protect) it?
Self-employment can be lonely. Does being independent
have to mean you’re on your own?
The fluid nature of self-employment makes it hard to engage
with rigid systems. What could we change or update in order
to better provide for one third of the workforce?
Bringing the stability of traditional employment to the self-employed
10. Fuel Small Business Success
b e c a u s e w h e n t h e y t h r i v e , w e a l l d o