How Will Freelance Be 1 Year from Now
- Author Anjana Ratnayake
- Published July 16, 2021
- Word count 518
Freelancing has grown to become a significant source of income for many. Future predictions suggest that many people will join the fast-growing job sector. An Upwork study found that 12% of the workforce in the U.S. worked as freelancers in 2020. This was after the effects of the COVID pandemic. Massive layoffs rendered many jobless, forcing them to seek alternatives to make ends meet. This article features current trends in the sector and future expectations.
Below I have highlighted four Reasons for the Growth of Freelancing over traditional Jobs
- Need for Self-Employment
Many people will ditch traditional jobs in the future. People who ventured into working from home jobs amid the pandemic experienced a different feeling. Businesses and corporates are at an advantage too. It's now easier to offer staff flexible working hours.
Total acceptance is expected in most sectors in the future. This means more opportunities will arise.
- Entrance of New Technology in the Market
The emergence of modern tech solutions has been crucial for this sector. It provides a solution to many problems that were hard to solve in the past. Amid the current pandemic crisis, technology has eased communication. It's now possible to hold online meetings via platforms such as Zoom, Slack, and Airtable. Employers can now access the services of professionals through various freelance marketplaces
- Cost Reduction
People don't have to show up for work daily. They can now cut on transport costs, expensive outfits, and food. Employers will get to save on office space and hire people for only specified projects. To get started, all you need to have is a computer and a stable internet connection. The jobless can now secure a source of income. Marketing is also affordable. Businesses can use social platforms at cheaper costs for advertising.
- Emergence of Generation Z
The new entrants in the work landscape are Gen Z members. The group comprises its first members at the age of 18-22. The fading hopes of securing government and corporate jobs will force many to think of other alternatives. The cohort is different from the rest of the groups since they were born in the internet era. This generation is more equipped with skills and education than the preceding. More than 36% of the Gen Z Workforce in the U.S. ventured into freelance in 2020 (Upwork).
Important Freelance Statistics to Consider
Few statistics worth pointing out from the recently released Upwork's Future Workforce Report.
• Two-thirds of the self-employed earn more than full-time employed workers. That is, 65% of persons who ditch formal employment end up making more in self-employment.
• Youths comprise the most significant percentage in this industry. The Gen Z cohort (18-22 years) accounts for 50%.
• 62% of employers will opt to outsource in the future. They stated that outsourcing workers satisfied their expectations.
Final Remarks
Freelancing is the future of work. A year from now, an exponential increase in the number of independent workers is expected. This field offers a flexible alternative to traditional employment. The development of technology is the main factor for the rapid growth in this sector. Globalization and the growth of online payment platforms will catapult the industry.
Anjana Ratnayake is an experienced writer and a researcher on Technology related topics and latest lifestyle patterns.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- The Impact of 3D Animation in Business: Enhancing Visual Communication and Marketing Strategies
- Check Out These 6 Tips For A Great Day Hike!
- Steady Slope Marketing: Launching Your Small Business with Google My Business and Digital Marketing
- Steady Slope Marketing: Boost Your Business with Targeted Facebook Ads
- Steady Slope Marketing: Building Strong Brands for Lasting Success
- Steady Slope Marketing: Maximizing Growth with Google Ads
- Steady Slope Marketing: Building Custom Websites that Drive Growth
- Steady Slope Marketing: Unlocking Growth with Google Local Service Ads
- Steady Slope Marketing: Scaling Your Business for Long-Term Growth
- Steady Slope Marketing: Setting Up Small Businesses for Success in the Digital Age
- Steady Slope Marketing: Elevating Local Search Authority for Small Businesses
- The Power Of Happy Hour: How Bars and Restaurants Can Leverage Promotions To Drive Drink Sales
- Legal And Ethical Considerations When Attempting To Find Vehicle Owners
- The Science Of Music And Exercise: How The Right Playlist Can Boost Your Performance
- The Role Of Government Policies In Accelerating The Adoption Of Electric Vehicles In The UK
- Eight Free Business Central Apps That You’ll Wish You Had
- Costs of buying property in Spain - IMS Mortgages
- The Essential Equipment: Why Quality Binoculars are a Must for Bird Watching Outings
- Best Cardio Workouts: Unlocking the Awesomeness of the Rowing Machine to Shape the Body Fast
- Government Contracts: The Power of a Government Tenders Writer in Australia
- Discover the Premier Chauffeur Services for Business and Leisure in Kuala Lumpur
- Streamline Your Job Applications: Using a Spreadsheet and ChatGPT to Create Custom Resumes
- The Origins and Evolution of International Dance Day
- Fall rustic farmhouse décor with vintage doors and earthy woods
- Best Holiday Destinations Around the World
- The Premier Lighting Stores in Brampton, Caledon, and Mississauga: Illuminate Your Space with Style and Precision
- A Brighter, Cleaner Workspace: The Importance of Commercial Cleaning in Auckland
- "We Can Do It!" The Herculean Effort of War Mobilization During WW II.
- Top 10 Ways Business Central Users Streamline Shipping
- How to Shield Your Contracting Business from Common Risks