The world of freelancing is an interesting one. It’s astonishing recent growth at breakneck speed. Nowadays, people from all walks of life are thinking about freelancing as a long-term career option. Let’s examine the current state of the industry and how freelancing will change over the next ten years.
Why do freelancers continue to increase in number?
Freelancing is gaining popularity due to global labor market changes, with digital platforms and online talent marketplaces commoditizing access to top talent. Remote work has led to increased autonomy and flexibility, prompting workers to question their career choices and employers to consider freelancers. With 36% of Americans now independent workers, France, Germany, and Spain have an estimated 3.27 million freelance knowledge workers. 43% of US business owners plan to hire freelancers in 2020, and 7 in 10 employers in the MENA region plan to do the same.
What will freelancing look like in the future, then?
Four major factors will shape the future of freelancing: an increase in employer preference for independents, the expansion of freelancing into new industries, the development of products specifically designed for freelancers, and an increase in governmental support and social protections. Understanding these trends is essential to comprehend the future of freelancing.
Altering attitudes of firms from acceptance to preference
According to a MassChallenge survey conducted in 2022, 73% of tech companies now employ blended teams, and 71% of managers of remote teams believe that the use of independent contractors and freelancers has greatly improved business agility. Companies are interested in using the work ethics, market knowledge, and contemporary thinking of freelancers. Working with independents, according to the majority of employees, fosters innovation and provides access to specialized skills. Over the years 2023–2024, 66% of employers anticipate increasing their reliance on contractors. Hiring and retaining top talent is difficult given the 85 million jobs that will go unfilled globally by 2030 due to a lack of skilled workers.
Freelancing market dynamics shift as businesses hire freelancers for cost-effective tasks, employees prefer remote work, and full-time solopreneurs scale businesses. New resources emerge for remote collaboration and administrative tasks.