Today, the freelance economy has begun to modify the working lifestyle of many individuals. It is seen that freelancing has increased by 400% in the last decade. Every third American comprising of forty-two million people were found to work as freelancers in 2013. And it is predicted that by 2020, freelancers will represent fifty percent of the full-time working population. That comprises over sixty million people.
Reasons for increase in demand for freelancers
The Changing Economy
“Freelancing lets you shift gears when the world does.” – Sara Horowitz
The economy has always been unpredictable. Currently, there is not much security in the job market and so if you are working today doesn’t necessarily mean that you will have it tomorrow. The working environment has always been evolving with its ups and downs. What do you do if you get laid off? Having a freelancing career on the side acts like the ‘shield of Achilles’ to you and your family during a crisis.
An inverse co-relationship has been observed between freelancing and full-time employment in the economy. Freelancing shows a positive growth in times of economic downfall, whereas full-time work openings get reduced. However, even if the economy is not going through a downturn freelancing may continue to rise, as seen in the last one year. Hence, it is not always true that freelancing is countercyclical to full-time service.
A Win-Win situation for both: Employers & Freelancers
With the advent of freelance industry, millions of workers now choose career paths that could have never been materialized without support from rising freelance economy. With more and more experienced professionals and workers opting for freelancing, organizations that have limited funds for recruiting a full-time employee is proving to be a boon for many. This is where freelancers can prove to be an invaluable resource for such organizations that need specialized skills on a short-term basis, without the need to hire a permanent employee for a higher price. Independent contractors can easily fit in at a comparatively cheaper rate.
Today, companies can hire highly skilled workers through online sites for a job for a fraction of what they would pay to bring in a full-time staff. Freelancing provides to be an optimal solution which is cost effective and affordable for high-quality businesses.
Technology has led mankind overcome disadvantages of time and distance. Its indeed a small world after all.
The age of Smartphones
The proficiency of freelancing realm has increased with the acceptance of the mobile technology. Moreover, everybody carries a mobile phone today, because of which communications have improved between the employers and freelancers. Mobiles help freelancers to get notified of project location and thus helps them to move rapidly from one project to another. There is an increase in mobile data analytics platforms for the freelance workers, which provide employers an enhanced ability to track and analyze a freelancer’s work. Hence, mobile data analytics are playing a vital role in helping businesses to find freelancers.
Availability of Internet – The stepping stone to your world of freedom
Freelancing has become easier and simpler with fast internet accessibility. Now, you don’t need to waste time on slow connectivity and file download. Most people can now access the internet as it has become cheaper. All you need is a cable, broadband sticks, and other tools. Besides, the internet is available in every nook and corner. As a result, the freelancing opportunity is substantially good than what it was ten years before. Various websites are there to help you with freelancing jobs.
Increase in Outsourcing
Increase in technology has lead to increase in outsourcing resulting a rise of freelancing. All you need is a laptop and internet and you can connect from anywhere in the world. This is also beneficial for organizations as outsourcing is comparatively cheaper in a few countries.
Change in trends
Autonomy, liberty, sense of independence, self-controlled working hours, tailored working habits, and changing tastes are cues for workers from different sectors to opt out of the traditional 9 to 5 jobs to self-chosen fields of a career course.
In today’s world, old folks or young lads with or without experience prefer flexibility in their careers. In fact, this is one of the main reasons as to why people quit their jobs to freelance.
People want to be their own bosses. They want to decide when to work, how long to work for and who to work for as well. No more restrictions or compulsions to work on a particular project which is to the least of your interest. This is the new in. This also helps them show up for things that matter – like when your kid is on the school basketball team and has a game.
Another major reason for people to leave traditional jobs and pursue freelancing is the sense of independence that comes with it. Freelancing brings a sense of self-accomplishment and new challenges along with it. One of the most common problem for high turn over is lack of growth and feeling of boredom and stagnancy that a monotonous job brings in. Many of them have found what they were looking for with freelancing.
“ I am a freelancer because life is too short to work in a cubicle.”
The new system of getting work done by hiring freelancers has brought economic and strategic benefits to business processes and led to the making of remarkable professionals who are creative, innovative, and responsive. No doubt, the freelance economy is showing a positive growth and doesn’t seem to subside any soon. It is a beginning of a new era and there is no reason the freelance balloon should burst for a long period of time.
So, do you have for what it takes to be a freelancer? The word itself begins with “FREE”. Are you willing to take the plunge is what you should ask yourself before you go to bed tonight…