The Future is Freelancing

The world is going through a paradigm shift and with it are all the job markets. As corporates look to get lean on their process, freelancers have come to act as a savior in the tough times.

But how long will this joyride continue? Will there come a day when we go back to our old lives and resume doing things the way we did. Well, it is highly unlikely. The work from home culture is here to stay and so is the transition to being our own bosses. Brace for the impact as future begins to freelance full time.

Who is a freelancer?

Freelancers are self-employed individuals who provide their services to one or more employers simultaneously. They may or may not be committed to a single client for a long period.

You will come across freelancers in almost every existing industry. However, freelance projects are more prevalent in cultural and creative siloes. The highest requirements of freelancers are in the fields of music, writing, acting, computer programming, web design, graphic design, translating, and illustrating.

What is the current state of freelancing?

Freelancing has seen a direct impact on the internet boom in India and abroad. Clubbed with the rising unemployment rate of the past, Millennials and Gen X had been seeking a way to secure their career without negotiating with things they enjoy doing, hence freelancing was born.

In a 2019 survey by MBO partners, over 40 million Americans were freelancing. An interesting insight found 33% of all freelancers to be baby boomers, 29% Gen X, and 38% millennials.

India too hasn't shied away from pouring its love into the unconventional yet brave choice of employment. The country has the 2nd largest freelancer workforce in the world and this is old news from 2019. Novel Coronavirus Wave 1 of 2020 and Wave 2 of 2021 have only pushed the chart higher up.

The driving force of freelancing

There are multiple reasons to freelance, money and mental peace being just a few of them. On a personal note, I freelance because I can. Because I have a skill that not a lot of people possess and I want to make the best of it while making it the best of me.

The two primary driving forces of freelancing are demand and supply. The demand for expertise, additional value and skill, and supply of capable individuals that radiate creativity, initiative, and discipline in their work.

The future of freelancing

Needless to say, the future of freelancing is vibrant. The onslaught of the virus and work from the home culture that followed, has again made us appreciate working from the comfort of our comfort zone.

If the pre-covid data is any metric to go by, freelance space in India is set to grow to a whopping $30 bn industry The recent chain of events has only made this rise easier. It will not be surprising at all if the volume of freelancers in the organized market overtakes the full-time corporate employees.

So sit back, relax and watch the freelancers eat all the jobs and take over the world.