Posted on by Raihan Hadi
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The Freelance Economy
03 May
According to a recent study by Intuit, the freelance economy is expected to continue growing in the coming years, with freelance workers already making up more than 43% of the workforce in 2022. This trend can be seen as mutually beneficial for both businesses adapting to the changing landscape and individuals with the desired skillsets.
On the one hand, hiring freelancers can be a cost-effective way to get work done without the burden of additional headcount or overheads.
On the other hand, it provides freelancers the opportunity to build a diverse portfolio while allowing them the freedom to choose – something that a full-time position is unlikely to afford them.
New Opportunities, New Challenges.
With these opportunities, however, come a host of challenges associated with this trend. For one, freelance workers can often feel isolated and disconnected from the larger workforce – even more so in these work-from-home times.
Additionally, freelance work can be unpredictable and unstable, making it difficult for some to sustain themselves financially.
Despite these challenges, as more businesses realise the benefits of hiring freelance workers, and as more freelancers embrace this flexible and dynamic way of working, we can expect to see continued growth in this segment of the economy.
“Freelancers are likely to command better rates and will be able to choose what type of work they want to engage in.“
For individuals who are considering a shift to freelancing, or are looking to try out on-demand work that fits into their lifestyle, now is the ideal time to do it. In the wake of the pandemic, many companies are now ready to fully commit to on-demand talent.
Meanwhile, the supply of talent has yet to meet the demand, which means freelancers are likely to command better rates and will be able to choose what type of work they want to engage in.
Having said that, it’s not just experience and a strong portfolio that can help build in-roads to more lucrative gigs; there is also a need for freelancers to be part of a community of like-minded professionals in order to establish a reputation, build up clout and gain access to resources to expand their influence.
Whether you’re a first-time freelancer or an already-established professional, you will definitely benefit from being part of Gigple, an elite freelance community that enables you to do the best work of your life with the right tools, connections and recommendations.
