The rise of the contingent worker is one of the most significant economic phenomena of our time. Contingent workers including freelancers and independent contractors make up a majority of the US workforce, and represent a growing share of all workers throughout the world at large.
And with the proliferation of freelance platforms like Fiverr, Upwork, and Freelancer.com, it’s now easier than ever for them to find work. Despite their newfound prominence in today’s economy, however, little is understood about these gig workers and what makes them tick.
| Takeaways |
|---|
| – Freelancing is on the rise, leading to the emergence of a modern contingent workforce. |
| – The modern contingent workforce offers flexibility and diverse opportunities for individuals seeking alternative work arrangements. |
| – Freelancers can navigate the challenges of self-employment by building a strong network, acquiring in-demand skills, and utilizing online platforms. |
| – The rise of the modern contingent worker is reshaping industries and challenging traditional employment models. |
| – Transitioning into the modern contingent workforce requires strategic planning and a proactive approach to building a successful freelance career. |
Traditional Employment Isn’t For Everyone
There’s no denying that traditional employment can be a great option. It’s still the vast majority of Americans’ only option. But this isn’t to say that all people are suited for traditional employment, and some would prefer to work for themselves.
There are many reasons why someone might prefer self-employment over working for an employer (or a series of employers).
Some people find working from home or in an office setting more appealing than going into a traditional workplace every day; others enjoy being able to set their schedule.
There is also evidence suggesting that freelancing may lead to better working conditions overall because you have more control over your schedule, workload, and workplace environment all factors which contribute heavily to job satisfaction.
But despite these benefits, it’s important not to overlook other factors when considering whether full-time freelancing is right for you and if so, how much time should be spent on each side of the spectrum?
The rise of freelancers is reshaping the workforce and transforming traditional work structures. Explore how this revolution is shaping industries and job markets in our article on The Rise of the Freelancers and the Work They’re Changing.
Technology Has Changed The Way We Work, And The Way We Find Work
Technology has changed the way we work, and the way we find work. It’s given us an unprecedented ability to network and share ideas using online platforms like Slack and Trello.
We can also use these platforms to find new jobs: a recent study showed that 60% of employees said they would leave their company if they could take their skillset with them.
In addition to improving our ability to find jobs, technology has increased our ability to work remotely and this is especially true for freelancers who have chosen not to pursue traditional 9-5 office jobs.
The rise of freelance workers has largely been fueled by millennials’ desire for flexibility in their working lives; many young people aspire toward careers where they can set their hours and work remotely, rather than having a traditional 9-5 office job with fixed hours.
Limited advancement opportunities, and non-negotiable vacation schedules (not everyone wants these things).
Balancing college and making money can be challenging, but freelancing offers a flexible solution. Find out how you can make money while pursuing your education in our informative article, How to Make Money Freelancing While in College, and explore the possibilities of building a successful freelance career alongside your studies.
Freelancers Can Have Many Advantages In Their Careers
As a freelancer, you have many advantages over the traditional employee. For instance, you can work from anywhere. You also can set your schedule, so if you prefer to work late at night or early in the morning, that’s entirely up to you!
And because there are no rules about what kinds of projects freelancers should take on, they get to choose jobs that interest them and challenge them personally.
This means that freelancers can enjoy a better quality of life overall than those who rely solely on their employers for income and stability. They can find work that is more interesting or rewarding than what most companies offer.
And perhaps even more challenging! Many people find this type of freedom so appealing that they decide never again to become tied down by one employer again.
The Freelance Lifestyle Isn’t For The Faint Of Heart
At this point, you’re probably realizing that the freelance lifestyle isn’t for everyone. It’s a lot of work to find clients and make sure they are happy, you have to be able to manage your own time (and not get too distracted by cat videos), as well as manage your finances, health, and more.
But if you’re interested in becoming an independent worker or even just dipping your toe in the water here are some things to consider:
- What kind of work do I want? Do I want a full-time job at one company or am I looking for something more flexible?
- How much knowledge do I have about freelancing? Have I considered all my options before deciding on freelancing as my primary source of income?
- Who will help me out when things go wrong? Is there someone who can mentor me through this transition into self-employment
Discover how freelancing is shaping the future of work and providing new opportunities for individuals seeking flexible careers. Learn more about the growing trend of freelancing in our insightful piece, Freelancing: The Future of Work.
Find Your Community And Make The Most Out Of It
Your community is the people you surround yourself with. It’s also your support system, and it can be as broad or as targeted as you want it to be.
Whether it’s an online group, a local meetup, or just a few friends who share your interests and goals, finding that community of like-minded people will help keep you motivated on your journey to becoming a freelance writer.
But before you join the ranks of digital nomads and virtual assistants, make sure that this type of work aligns with what makes you happy, and don’t forget about any extracurricular activities that might affect your ability to work remotely (like taking care of family members).
If being constantly connected 24/7 isn’t something that appeals to you personally and professionally, then remote working probably isn’t right for you in the long run.
On the other hand, working from home sounds exciting but also scary because it means leaving behind some degree of structure.
A routine where someone else does all the scheduling for example might not be worth trying out at first anyway since this kind of environment needs flexibility from everyone involved!
Millennials are embracing freelancing as a means to avoid the challenges faced by traditional employment. Discover how millennials can leverage freelancing to navigate the changing landscape of work in our thought-provoking piece, How Millennials Can Use Freelancing to Avoid Becoming the Screwed Generation.
Freelancing Is A Unique Lifestyle That Is Rewarding In Many Ways
You can work from home, on your schedule, and at your own pace. You have the freedom to take time off when you need it or make plans with friends on short notice without having to worry about finding someone else who can fill in for you at the last minute.
If a client isn’t paying up, no boss is hovering over your shoulder demanding that work get done even if it means working past midnight or taking personal days off because of an illness or family visit.
The relationship between freelancers and clients is more flexible than traditional full-time employment, which means less stress about meeting deadlines and getting paid on time.
Remote work has become increasingly prevalent, thanks to the rise of freelancing. Learn how freelancing is changing the face of remote work and providing individuals with flexible employment options. Read our article on How Freelancing Is Changing the Face of Remote Work to delve deeper into this transformative trend.
Conclusion
So, what does it all mean? Well, for employers and business owners, the rise of contingent workers leads to a more agile, flexible labor force.
As companies increasingly use contingent workers to fill skill gaps and manage the ebb and flow of work demands (and as this workforce becomes an even larger part of the mix), businesses will have to adapt their hiring practices accordingly.
Accommodating different skills needs, working styles, and payment expectations. This can be a challenge; many businesses aren’t accustomed to managing any kind of external talent outside their walls.
While this is an important change that needs strategic planning on the employer side the opportunity is huge.
Not only can these new forms of employment help companies access specialized skills that are in high demand or hard to find in-house, but they also give them access to an extremely motivated workforce who see themselves as assets that need nurturing.
Health care benefits may not be top-of-mind for most independent contractors or freelancers today but retirement planning is!
According to one survey from independent career marketplace Fiverr Pro, 77 percent of millennial freelancers expect their freelance income stream to be part of their retirement savings plan by 2020.
Further Reading
Here are some additional resources to further explore the topic of the rise of the modern contingent worker and freelancing:
The Rise of the Contingent Workforce: Discover insights into the growth of the contingent workforce and its impact on the future of work.
The High-Value Freelancer in the New Work Order: Explore the characteristics and skills that make freelancers valuable in the evolving work landscape.
The Growing Contingent Workforce: Talking to Real-Life Contractors (Part 2): Gain insights from real-life contractors and their experiences in the growing contingent workforce.
Frequently Asked Questions
Why Is This Freelance Life So Important?
The modern contingent worker’s ability to work from anywhere at any time has made them an invaluable asset to businesses of all sizes.
Because of the flexibility that comes with being a freelancer, these workers can be hired on a project-by-project basis with no long-term commitment.
This means that companies can hire contingent workers for short-term projects or fill in gaps when employees are out of town or off sick.
What Is The Rise Of The Modern Contingent Worker?
The rise of the modern contingent worker is a movement that has seen a significant increase in the number of individuals working in a freelance capacity.
This phenomenon is thought to be driven by several factors, including increasingly flexible work schedules, a shift away from traditional employment models, and an increasing reliance on technology.
What Is A Contingent Worker?
A contingent worker is someone who works as an independent contractor, freelancer, or temporary worker. These workers are often hired through third-party agencies and work on a project basis or as needed.
How Has The Number Of Contingent Workers Increased?
The number of contingent workers has increased as companies have become more dependent on outside contractors to fill in gaps in their workforce during busy times and for specialized skills that they might not have internally.
The rise of the gig economy has also contributed to this increase as many people are now choosing freelancers over traditional employment options.
Is It Any Different Than What We Used To Call “Temp” Jobs?
Contingent workers are not like temp jobs because they tend to offer more flexibility and autonomy for the worker, who does not have all the same responsibilities as full-time employees (such as medical benefits).
Contingent workers can also earn higher wages than traditional employees because they do not receive benefits like health insurance or paid time off from their employers (though some companies do offer these benefits).
Why Is This Freelance Life Important?
This Freelance Life will be a great resource for people looking to start their own business or freelance.
It will teach you everything you need to know about how to create a successful business, from setting up your company and getting paid, to marketing yourself and managing clients. We’ll cover all the basics, so you don’t have to waste time learning things that don’t work.
This Freelance Life will be a go-to guide for anyone who wants to start their own business or freelance.
What Is The Difference Between A Freelancer And A Temp?
A freelancer is someone who works on projects for various clients and takes on multiple roles in each project. A temp, on the other hand, is someone who fills in for another employee while they’re out on leave or vacation.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.