It started as a “side gig” for loads of people. Surprisingly, more and more people are turning to full-time freelancing. It’s gradually overtaking 9-5 jobs and becoming the primary source of income for most families around the world. Projections show that the freelance economy will continue growing as more people shift to remote working. Besides, what can beat the independence and freedom freelancers enjoy?
Let’s take a deeper look at why the future is geared toward freelancing.
The Rise of Freelancing
The unexpected Covid 19 virus changed the job market and workforce landscape. Full-time employment dwindled as companies battled the economic hit that arose because of Covid.
Most employees had to work remotely. Remote working took form, dug, and spread its root deeper into our workplaces. Remote work became the new norm.
The more employees worked remotely, the more they became interested in the “gig economy.” It's safe to say remote working catalyzed the freelancing economy. The pandemic may have hastened the preference for freelancing, but it seems it will not slow down. There is a possibility that half of the world’s workforce may entirely shift to freelancing in the future. Besides, the younger workforce prefers the flexibility that comes with freelancing.
Why Are We Seeing More Freelancers?
Freelancing has hit the entire work industry equally. It’s changing the work landscape for parents who desire more time with their kids. Professionals are ditching their nine-to-five and professional attires for the freelance market that lets their passion shine. People don’t wish to be tied to a particular location or office schedule. The freelance world gives them enough time to earn an income while maintaining a balance between personal and work life.
Here is why freelancing is taking over the work industry.
Freedom and Flexibility
Freelancing comes with greater autonomy and freedom than traditional work setups. Independence and freedom make freelancers productive and happy. A freelancer can decide how, when, and where to do a task.
As a freelancer, you can choose to work from as you tour the world, from home, or rent and set up an office space in a location you love. There are many affordable and scenic office spaces in Brooklyn, New York. Office space will help you separate your personal life from your work life. You’ll have the privilege to decorate as you please.
Attractive Earnings
Freelancers can set their rates, choose projects, clients to work with, and hours. Therefore, giving freelancers a luring earning potential. You don’t need to approach your supervisor or boss to get a raise. More than 50% of all freelancers are happy with the income they generate from the “gig economy.”
Although a freelancer’s rate may be subject to demand and supply forces in the market, freelancing offers a better earning potential. On top of that, you get to avoid additional costs associated with a traditional work environment.
Even though earning money as a freelancer is appealing, you should be able to manage it, if you have trouble keeping it under control or just outright invest it. There are several books on personal finance that can guide you in that life direction.
Technology Advancement
There was a time freelancers had to rely on business cards. They had to shake several hands before landing a lucrative gig. Technology changed that outlook.
Technology advancement has turned freelancing into a full-time career path for lots of people. Companies can easily reach out to talented freelancers. The advancement has boosted the proliferation of sites where freelancers market and sell their skills. Work comes from any corner of the world. Payments can safely fly from different parts of the world to freelancers’ pockets.
No Office Politics
Freelancers don’t have to deal with annoying office gossip or politics. Office politics often push professionals to a tight corner. Traditional employees worry about their skills and how to master political intelligence at the office.
Freelancers don’t have to worry about forming politics-based relationships.
Room To Continuously Grow
Freelancers have access to multiple online platforms like Udemy and Coursera. They can learn new skills from these platforms and generate more income.
A Never-Ending Supply of Work
A significant number of companies across the globe rely on freelancers to save money and let full-time employees concentrate on other integral tasks. They get to save costs and retain talented employees.
Wrapping Up
Statistics show that freelancing will soon become the dominant sector in the work industry. Try freelancing if you prefer independence. You don’t have to be controlled by a set of office policies and schedules. Design an enticing portfolio, market yourself, set up a workspace, build credibility, and start making it big in the freelancing industry. Traditional work arrangements may cease to exist soon as more and more people turn to gigs and earnings per hour or task.