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 1922 Salacious Double Murder of the Priest and His Choir Singer.
- The Ultimate Guide to Wispy Lashes
- The Ultimate Guide to Cat Eye Lashes
- Embrace Moody Maximalism: Unleashing Rich, Bold Interiors
- Enhance Your Bedroom with Sliding Barn Doors
- Dr. Aaron Cwik DDS inspired by Oral Surgeon Robert Marx
- Paris Olympics travel guide 2024
- Immigration Services in Germany: Your Gateway to a Successful Transition
- How to deal with growing pains in the legs of children?
- What is the AS/NZS standards Type 241 Mining Cable?
- The Legal Landscape: Casino Regulations in Houston vs. Chicago
- Common Challenges And Solutions In High-Volume Injection Mold Production
- Boat Neck Dress: Elegant and Classic Fashion Choice
- Top 10 Ways to Maximize Your Job Shop Efficiency with Business Central
- Television and Nazism at the 1939 World's Fair.
- Top Breweries To Visit in Portland and Asheville
- The Rise of Crypto Gambling in the Casino Entertainment Industry
- Top 10 Ways to Improve Production Scheduling in Business Central
- IMIC e.v.– immigrant advisory services in Germany: A guide along a new path
- Against Molecular Mixology and the Cancer-Causing Powders
- A simple introduction to PHP Functions
- Enhancing Your Property with a Durable Concrete Sidewalk
- Twitter Spy is the best way to track your corporate wife
- Discover the Pinnacle of Luxury: The Most Exclusive Hotel Rooms and Villas in the Maldives
- How to Find the Perfect Web Designer for Your Small Business
- A Comparison of Window Cleaning Methods
- The Ultimate Guide to Rug Cleaning
- Uncovering the Beginning of Marine Reptiles: A 246-Million-Year-Old Nothosaur Fossil in New Zealand
- The Canvas of Our Lives
- Coffee Reduced Risk Of Depression: A Surprising Connection