New Normal//

The Future is Freelance, Businesses, It’s Time to Catch up

A gig economy is making better sense for company bottom lines and flexible, contractual workers stand to gain.

Photo by Wictor Cardoso/Pexels
Photo by Wictor Cardoso/Pexels

The Covid-19 scenario brought along a grim employment outlook, however, there is a silver lining in sight for those who are willing to seize the opportunity. As full-time staff positions dwindle, contract and freelance work is gaining massive momentum. This also includes very technical roles as well as software development, statistical analysis, et al.

Companies are realising that freelancers can be good for the bottom line

Companies still need to get work done and are beginning to get a better sense of what a remote, on-demand workforce can accomplish. If companies pay only for vital tasks as they’re needed and are able to choose from a wider range of geographically dispersed workers, they can better manage the bottom line.

The key to survival in the workplace is to adapt. Businesses are finding new ways to get work done during this period of groundbreaking revolution. It is widely known and proven that a gig economy is profitable for companies, given that they can accommodate a temporary workforce according to customer requirements or business needs, leading to saving administrative and compliance costs. This framework allows startups and smaller companies to leverage skilled professionals as required. The setup is synergetic and both parties have the liberty to look for options that cater to their needs.

The digital workplace is the new normal, and freelancers are already pros at working online

Besides, freelancers need the ability to work effectively as part of a distributed workforce. No matter how long social distancing is going to be the norm, the pandemic has underscored the need for workers to thrive outside of traditional office settings. Many freelancers may have picked this employment model because it seems to offer freedom — the freedom to work anytime and, sometimes, anywhere.

Freelancers are willing and have the ability to take on more tasks because they are incentivised to work hard. Additionally, they aren’t averse to working outside of the normal 9-5 workday. So, if your business needs someone who can put in long hours of work, look no further than a freelancer. And since the digital workplace is part of the new normal, you can rely on your on-demand hire to work from wherever they are in the world. There’s nothing that a freelancer can’t do with a computer and good internet connectivity.

Possibly the most glitzy segment of freelancing is the supposed creative class, the well connected, well-educated and globalised section of workers that specialise in communications, media, design, art and tech, among others sectors. However, large-size firms in segments like FMCG, education, IT & IT-enabled services, consulting, and more, also intend to utilise freelance talent now more than ever.

The rise of freelancing is an indication of future trends

Ever since COVID-19 has been in the picture, companies have realized their dependence on digital solutions, leading them to focus on digitalization in education, health, finance and other sectors.  IT experts and project managers skilled at AI, machine learning, and big data will be in high demand. Corporates will move forward with smaller workforces, invariably using freelancers across the board. 

The rise of freelancing is a crucial visible indicator of the future of work, particularly in terms of collaboration practices. Freelancers are already assisting and enabling the co-management of projects. Soon enough, they will also be creating, communicating, and joining forces with firms, customers, and with India Inc at large.

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