The Growing Freelance Trend During COVID-19

Covid-19 has wreaked havoc on the economy worldwide. Many people have become jobless. However, many people have also switched to freelance mode of work. According to a study published by Upwork, about 2 million Americans have started freelancing in the past 12 months. This has increased the ratio of freelancers to 36% in the country.

The key is to adapt to the changing work trends. Whether you were already working as an independent worker or have been forced by joblessness due to COVID-19, you need to weigh your work options. Businesses still want to get things done and so far the best way they can manage it is through remote working. This remote working mode has made it possible for freelancers to offer their services to such businesses.

However, the freelance working trend is not new. The Intuit 2020 Report already predicted more than 40% increase in the freelancers ratio in the U.S alone. According to the Upwork and Freelancers Union, 57 million US workers added a $1 trillion to America's GDP in 2019.

COVID-19 has pushed the growth of freelancers worldwide. The trend will only continue to expand beyond the pandemic crises. As many companies were forced to switch to remote working and outside help during the crises, they will continue to hire freelancers for further work in the future. Some of the possible reasons include:

Easy to Hire through a Platform

Online platforms such as Freelancers, Toptal, Guru and Upwork are becoming refined and sophisticated with each passing year. They have made it super simple and easy for businesses to find the right person for the job anywhere in the world. From software developers, creative designers, writers, to other professions, everyone is available on these platforms.

Helps to Save Money

Companies also tend to save a lot of money while hiring freelancers, as they are not paying any long term salary benefits and payroll taxes. The office rental space is also saved by focusing on project based short-term hires. This is best for startups who are already low on investment and want to invest more in scaling their business instead of paying for the business commodities such as the rental space cost and bills etc.

Gives a lot of Flexibility

Freelancers have a flexible schedule. They work for multiple clients taking short-term roles with limited time slots. They are better than in house employees as they work on small deadlines within flexible work hours producing quality work in less time. However, there is still no match for the institutional knowledge and experience that comes only when companies invest in employees on a long-term basis.

Better Quality

Due to the ever increasing competition in the freelance marketplace, the freelancers work extra hard to make their presence and worth known to the companies. Companies benefit a great deal from this effort and this again goes in their favor. However, hard working employees are always an asset for the company whether remote or in house.

Reach Worldwide Talent

Instead of looking for employees within a 20 to 30 mile radius, you have the option to work with the right talented individual from anywhere in the world. This may have some challenges such as time zone differences and cultural barriers, however, compared to the priceless talent you get in return this is a very low cost to bear.

Freelance Skills in Demand for 2021

Many IT Skills are in huge demand and will continue to grow in the year 2021. The list includes:

Conclusion

While the global economy continues to fall down during the Pandemic, you can consider freelancing as an opportunity to make a living in this difficult situation. Who knows, you will be able to get long term clients and end up starting an agency in the long run. Just grab the opportunity while there is still time. Here on Vocal is a great place to start. Happy Freelancing!