With 58 million freelancers currently working in the United States and hiring managers anticipating a 168% increase in remote workers, freelancing is on pace to become the majority workforce by 2027.
So why is freelancing becoming increasingly popular when it used to be associated with cheap and low-quality labor?
Freelancers have significant advantages over traditional jobs: flexibility, independence, and more money.
Here we will break down why freelancing is primed to take over the workforce within the next couple of years.
What does it mean to be a freelancer?
A freelancer is a self-employed individual who can work independently. Typically, freelance workers are hired on a contract basis for specific projects or tasks rather than full-time employment.
Freelancers have the freedom to choose their hours and decide which jobs they want to accept based on personal preference. They also get to determine how much money they make by negotiating rates with clients, whereas employees are paid according to their employer's hourly wage or salary.
The freelance job market is growing rapidly as more people flock towards freelancing due to its flexibility and independence benefits over traditional jobs.
Here are some of the reasons that freelancing is the future.
1. Spend time on things that are important to you
The COVID-19 pandemic has shown that employees can successfully work remotely, so why wouldn't they? According to the U.S Census Bureau, the average one-way commute to work takes 26 minutes. That means the average American spends nearly 1 hour per day, 5 hours per week, and 20 hours per month simply commuting to and from work.
Now, if you can work from home and replace 20 hours of commuting with 20 hours spent with your family, friends, or pursuing a passion, the world of freelancing makes a lot more sense.
Spending time doing the things that matter to you instead of driving to and from an office job can have tremendous benefits on your health and overall happiness.
2. Flexible Hours
If you are tired of being stuck to regular and pre-determined hours, freelancing is for you.
Freelancers have the advantage of working when they want, as long as deadlines are met. They have a lot more control over their work hours and can even take on a part-time job while they freelance.
Perhaps you are not a morning person and find that you are more productive working in the evenings. Being a freelancer gives you that opportunity.
Another advantage is that you do not need to ask permission if you want to go for a mid-day workout or take an extended lunch break. You simply do it. The autonomy over your daily schedule is a significant advantage to freelance work.
3. Opportunity to travel
Do you have a bucket list of places that you want to visit?
Freelancing is the perfect opportunity for travel. If an exciting, new freelance project lands in your lap and it requires traveling all over the world, what would be stopping you from exploring more of our planet?
When freelance workers accept contracts with clients outside their country of residence, they can explore foreign cities while still earning money.
This can also give freelancers an advantage when applying for jobs. Many companies will only hire candidates within commuting distance or close enough, so relocation costs do not overeat into potential earnings.
Another advantage is that many freelance platforms, such as Scripted, do not require you to be in one particular location. They often do not even know where in the world you are located.
This allows you to work from any city while earning a full-time income.
4. Higher pay
According to ZipRecruiter, the typical yearly income for freelance writers in the United States was $63,488 in 2019, whereas the average income from employment was around $40,000.
Of course, the pay will vary on the kind of freelance work you choose and your experience level, but the potential for earning a significant income is there.
Another benefit to freelance work is being able to charge in different currencies. If you are saying from Canada, the CAD is valued less than the USD. If you are freelancing online with a client in the United States, you can charge in a more valuable currency.
5. You are your own boss
As mentioned before, freelance workers can work when they want.
This means that you are not tied down by company rules or even your boss's schedule. You can set your own hours and do what is best for you instead of feeling like a cog in someone else's machine.
Choosing how many clients you take on also gives freelancers more time with their families while still earning money doing something they love. The choice about where, when, and how much freelance work you accept is yours alone to make.
6. Learn new skills
The freelance market is ever-changing, and new skills are always in need.
Learning a new skill will help you get freelance work, but it can also be beneficial down the road if you decide that freelancing isn't for you after all.
Even doing something as simple as documenting what other people do at their jobs on social media could lead to future freelance opportunities.
There are hundreds of different freelancing types, and with technology constantly advancing, the opportunity to learn new skills is exponentially growing.
If you can stay ahead of the latest trends, software, and online strategies, you will always have a new opportunity in the freelancing world.
7. Do what you are passionate about
Freelancers have unparalleled freedom when it comes to learning about anything they choose because there aren't any rules or boundaries preventing them from researching whatever subject interests them most.
If you want to try out writing, graphic design, app development, or simply learn how computers function starts working towards your goal today.
Through the power of Google, YouTube, and even paid courses such as Udemy, the ability to turn a passion into a freelance career is now easier than ever.
You are never too old to learn something new. The freelance economy provides the perfect opportunity for anyone who wants to try their hand at a different profession or change things after becoming bored with their current job.
8. Decrease stress and increase happiness
If you are unhappy with your work, freelance platforms can be a great way to ease into working for yourself or give you some time away from the daily grind.
According to Forbes, 79% of workers reported increased happiness after leaving their day jobs and pursuing freelance careers instead.
This leads to improved personal life, but it can also affect other aspects, including relationships at home and family ties since freelancers have more free time on their hands.
After all, who doesn't want an increase in happiness? Everyone deserves a fulfilling career where they love what they do each day while still earning money. Freelancing allows that perfect balance between making enough cash to live comfortably without having too much stress weighing on your shoulders.
Freelancing is set to become the future of the workforce. Hiring employees on a need basis not only decreases costs and overhead for business owners but can also increase specialization for specific jobs.
Freelancers also benefit from this type of relationship since their freelance career allows them to utilize the latest technology and software for quicker, more efficient work.
With freelancing platforms such as Scripted opening up new opportunities every day, there has never been a better time than now to consider making freelance your full-time job.
Apply to become a Scripted writer today to begin your freelancing career.