Freelancing is Revolution

The term "freelancing" is most common in culture and creative industries, and use of this term may indicate participation therein. Freelance,freelancer or freelance worker, are terms commonly used for a person who is self-employed and not necessarily committed to a particular employer long-term. Freelance workers are sometimes represented by a company or a temporary agency that resells freelance labor to clients. Fields, professions, and industries where freelancing is predominant include: music, writing, acting, computer programming, web design, graphic design, translating and illustrating, film and video production and other forms of piece work.

The Freelance Revolution in Numbers: Freelance Statistics

To appreciate the scale at which freelancing is currently present in the world. Here are some numbers that highlight the current trends in the world of freelancing.

1. At 58 million and counting, freelancing is poised to become the U.S. majority workforce by 2027

   Currently contributing over $1.4 trillion to the U.S. economy, the steady increase in the number of skilled individuals taking up freelancing every year has made freelancers the favorite to become the U.S. majority workforce within the next few years.

2. Google’s workforce has more freelancers than permanent employees

   As of March 2019, Google’s workforce comprised of 120,000 freelancers, more than the number of permanent employees on its payroll, which was around 102,000.

3. Countries with lower domestic work opportunities are seeing a surge in freelance professionals

   Due to the rise in adoption of remote teams, freelancing is providing a viable career path for skilled professionals in regions where domestic opportunities are low. Pakistan, Ukraine, Philippines, India, Bangladesh rank in the Top 10 countries with the fastest-growing earnings for freelancers.

4. Freelancers are proving to be game-changers for SMBs

   Providing a cost-effective and flexible solution, freelancers are helping SMBs achieve their growth plans. Reports indicate that SMBs are happy with freelancers and are looking to increase their use of freelancers in the future.

Here are three key stats to corroborate this fact:

70% of SMBs in  U.S. have worked with freelancers at least once

81% of these companies plan to hire freelancers again

83% agree that freelancers have greatly helped their business

    

Benifits of freelancer

Freelancers have a variety of reasons for freelancing, the perceived benefits differ by gender, industry, and lifestyle. Men and women freelance for different reasons. Female survey respondents indicated that they prefer the scheduling freedom and flexibility that freelancing offers, while male survey respondents indicated they freelance to follow or pursue personal passions.

Drawbacks of freelancer

Freelancing, like other forms of casual labor, can be precarious work.Beside the lack of job security, many freelancers also report the ongoing hassle of dealing with employers who don't pay on time and the possibility of long periods without work. Additionally, freelancers do not receive employment benefits such as a pension, sick leave, paid holidays, bonuses or health insurance, which can be a serious hardship for freelancers. Freelancers often earn less than their employed counterparts, although sometimes the opposite is true. While most freelancers have at least ten years of experience prior to working, independently, experienced freelancers do not always earn an income equal to that of full-time employment.