Freelancing can be a fulfilling career, but also a challenging and risky one.
Freelancing was an easy option for business professionals. After working through their business plans, selling employees and investors, and raising capital, they decided to work for themselves. Although they got to work and pay themselves very small salaries, it felt more productive to do so.
A few of those business professionals took the leap and made a deal with their employers to be posted in a more remote part of the country. The motivation for a remote working arrangement was to get people who had entrepreneurial spirit to start their own businesses, starting with a consumer product. These people then increased the employment rate of many of the towns in the country by creating jobs and adding employment into the economy. This much-needed economic boost was welcomed by the local economies.
However, then business professionals realized that one of the most powerful drivers of the first wave of freelancers was curiosity. There were many people wanting to learn more about learning to do something on their own. Many employees were forced to take a break to pursue entrepreneurial projects. Then business professionals observed that there were ways to build a high paying gig economy.
Freelancing turned from a financial decision into a career decision. Professional contractors started doing freelance assignments which landed on their desks with earnings which completely exceeded their company’s productivity. Now employers were willing to pay for these employees who were capable of doing job tasks which would improve output and speed of work.
Freelancing has also put the power back in the hands of the people. Business professionals realized that if they were not motivated to work, they would not remain in the gig economy. Entrepreneurs now take the risks and responsibilities of their own fate with the promise of their income.
The lack of regulation and licensing has played a major role in the expansion of the freelance economy. Skilled workers have been able to get a foot into the door. They are free to choose their opportunities without worrying about the burden of the employment agreement or the bureaucracy.
Freelancing has made things easier and more affordable for many independent professionals. That, in turn, has led to increased availability of high value jobs for those who have the needed skills and ambition.
Companies have a hard time hiring workers who possess the right skills. It costs around 4 percent of their payroll to train a new employee. Yet, freelancers barely incur the cost of their shipping boxes, copier, or coffee. They save money for almost everything. Freelancing provides another alternative to companies. They are able to hire professionals who lack physical and cultural constraints which are usually crippling for large companies.
Companies are also able to reduce or even eliminate the bonuses and benefits associated with the annual employment agreement. This is achieved by leasing space for the freelancers. The freelancers are able to work out as if they were on their own family. The perks and contract guarantees are only in the event of failure or quitting. If they are able to earn a salary, the company is able to save about 5 to 10 percent.
We live in a world of digital technology. Today, we carry everything around us with us, including websites and instructions. A website will not only serve your guests, it will also serve the local economy. A website, without any customer support, will only break down.
Digital innovation is spreading around the world. High demand for skilled professionals who have the required skill set is vital for any country to overcome the economic challenges they face. Freelancing allows these countries to absorb the necessary workers and contribute their own jobs and taxes to the local economies.
Companies around the world cannot maintain an active Internet business without skilled workers with these skills. Many countries are actively investing in exporting these highly skilled professionals to other countries. This much-needed solution has placed the power of freelancing in the hands of the people. As we move forward, the digital economy will no longer be limited to remote workers. FLEXIBLE working will be the new norm, and businesses will need to devise solutions to adapt to the new wave of global demand.