According to statistics, hiring freelancers is the "New Normal"

According To Statistics, Hiring Freelancers Is The "New Normal"

We're all wondering: What will the "new normal" look like while the entire world awaits word of expanding vaccine availability and crosses its fingers for a quick return to life prior to COVID-19.

It's safe to predict that the "new normal" in the workplace will be very different from life before the outbreak.

Many major companies are putting long-term or permanent remote work policies into place.

Other businesses are choosing to break their building leases in order to save millions on costs.

Additionally, freelance and contract employment are at an all-time high in the wake of this massive revolution.

The epidemic has produced a perfect storm for the freelance economy, including an increase in high-quality freelance employees and an increase in corporate budgets for hiring contractors.

Both businesses and freelancers may benefit greatly from this. I'll demonstrate how:

an increase in independent contractors

To begin with, 2020 witnessed the biggest increase in new freelancing talent ever noted.

Millions of individuals rushed to freelancing as an alternative to a typical 9–5 work after an estimated 400 million jobs were lost in the second quarter of 2020.

The growth of freelancing websites over the past year is due to this. In 2020, at least 2 million people formally entered the "freelance workforce."

These are often not inexperienced, part-time freelancers. Many director-level or even C-level professionals who are sick of putting in long hours at work have chosen to work from home as freelancers or part-time workers because they prefer the flexibility.

It shouldn't come as a great surprise because, according to a 2011 McKinsey study, 58% of American businesses planned to deploy independent contractors in senior management positions.

And it's understandable why more and more freelancers want a piece of the pie given that the rising freelancing market is worth an estimated $1.2 trillion.

more businesses than ever are using freelancers

Of course, as we adapt to a "new normal," it's not simply the number of people deciding to begin freelancing that is rising substantially.

Freelancers are being employed by more businesses than ever before for a variety of vocations. And that's just one of the many "bright sides" that the epidemic has for independent contractors.

The figures are astounding:

According to one source, the number of online job advertisements for freelancers increased by 41% in the second quarter of 2020 (soon after the pandemic hit the U.S.).

Due to more customers spending more money on freelance tasks, we at Fiverr saw a 44% growth year over year. Only the first quarter of 2020 passed since then.

Additionally, the number of businesses using the site to hire freelancers has significantly increased. Additionally, the percentage of high-value customers has increased and currently accounts for 58% of our sales.Why does this matter?

What do these rising statistics therefore indicate for the freelance sector?

There is more available employment than ever for independent contractors as a result. A talented individual might earn well working as a freelancer.

There has never been a better moment to use your passion or skill to earn additional money on the side or even launch a full-time freelancing business.

Many companies are in need of freelancers to fill in the voids left by layoffs or furloughs. Numerous emerging sectors require part-time assistance. And many of them have sizable budgets to allocate to a group of independent contractors.

For businesses, this implies that more and more firms are turning to independent contractors as a practical means of completing crucial work.

By using independent contractors, you can cut expenditures on overhead and projects. Less onboarding, fewer perks, occasionally lower pay, and frequently a staff that can complete tasks while you sleep are all part of it.

It's time to embrace the idea of hiring freelancers if you haven't already. Join the millions of businesses using freelancers to complete critical tasks and advance their businesses, including your colleagues.

The "new normal" is here, and it's going to be fantastic.