Those who can not work would not work. The employability skills and attributes are deliberated as a recurring feature of national policies on provision of effective education. This study investigated how individuals perceive, identify and address issues relating to their learning and employability. Schools are teaching youngsters without clear understanding of what professions will be invented by the time they will reach an age to work. The lifelong employability is no longer guaranteed by the education and training received in childhood and youth. The continuous restructuring and cost-cutting approaches frequently result into layoffs leading towards a job recession in global economy. This has increased the importance of up-to-date skills and competences to prepare the people for a more uncertain future, with many careers and more frequent changes in job roles. Due to relatively high positions in organizations the managers can easily foresee and predict changes in job market. They are an appropriate group to study self-direction and self management with regard to learning. Hence, the significance of free agent learning for employability of managers seems a relevant object for study. The data was collected through a structured questionnaire from about 250 managers working across various functional areas in different banks based at selected cities of Pakistan. Results of this study support the stated hypothesis that there is a positive relationship between free agent learning and employability with respect to a management career. The study concluded that free agent learning can be used as a tool to update and expand expertise, knowledge, and skills; to build and maintain networks; and to promote reputations to prepare for job transitions as and when current employer cannot guarantee long-term employment. The recommendations emphasis on use of free agent learning as a strategic approach by individuals as well as organization to capitalize over learning and development opportunities which could help in maintaining individuals employability as well as organizational excellence.