Global Pandemic Kick Starts The Freelance Revolution

With the global pandemic of Covid-19 still wreaking havoc on the economy, businesses and agencies are relying on freelancers now more than ever in a desperate attempt to cut costs by reducing the amount of permanently employed staff.

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According to Forbes (2020), research suggests that the number of job losses has not reached such dramatic lows since The Great Depression. More than twenty-two million Americans lost their jobs in less than a month due to Covid-19 – a statistic that took more than four years to achieve during America’s Great Depression of 1929 – 1933.

 

 

 

 

 

 

 

 

 

 

 

So what does this mean for the future of freelancers? Experts suggest we are moving into the age of the “Freelance Revolution.” During the lockdown when most people were forced to work from home, more and more companies experienced first-hand the mutual advantages of employees working remotely. The global economic crisis has resulted in many businesses downscaling and working on a tight budget of “essential staff only”, and companies outsourcing work to freelancers who often offer custom packages to meet their clients’ needs. It’s a “pay-per-project” strategy that maximizes cost efficiency and supplements critical skill in a company’s workforce.

 

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It is vital now more than ever that industries shift and adapt to the business world post Covid-19, because although the global economy will inevitably recover, the way we live and work will never be the same again. Chandrika Pasricha, CEO of Flexing It (India) encourages
Freelancers to “assess their strengths, sharpen their skill sets and think about new products and services they can offer.” (2020). The future of business lies with freelancing.

 

Article Written by:

Haylea Heyns

Sources:
Forbes
Weforum
Onecirclehr

 

June 12, 2020