Can freelancing be a full time profession?

Corporate work culture is hectic and strenuous, so much so that, everbody once in while thinks and yearns for a more comfortable lifestyle where one could work but still enjoy the comforts and peace of an easy life.

 

This is where freelancing presents itself in the most strong fashion. On the bright side, it offers comfort of working from anywhere and the opportunities to make a name for yourself and your talent but there are inherent doubts too.

Currently freelancing does not offer an initial security on job and financial fronts.

 

This imbalanced equilibrium raises a fundamental question

 

Can freelancing become a full time profession?

 

This question raises further doubts

 

1. Can freelancing evolve into a more secure platform in terms of employee or to be specific freelancer-benefits?

 

Security is the quintessential issue with freelancing in the current scenarios. On one hand where people find it adventurous and are willing to take the risks associated in return of better opportunities of growth and fame, while on the other hand the majority of the crowd who works full time secure jobs supplied with benefits have a different view.

Freelancing may have generated some superstars but it has still failed to provide some essentials which drive the modern day work force like job security and financial security.

 

Let us see the following info graphic

We see that while a great percentage of freelancers are happier doing what they do, the balance between those who feel secure and those who don’t is still something to talk about as there is no clear majority.

While there is a certain shift in equilibrium towards feeling secure but will this stay this way?

Will more freelancers find opportunities which give them the security they yearn for?

This statistic clearly shows that the inclination towards freelancing is vast. It is possible that as more and more talent turns to this virtual market place, the demand and supply equations will get more stable and thus risk will decrease and security will increase. Till then, one has to wait and watch.

2. Can employers and employees adapt to this global virtual office?

 

This is another question which revolves around the minds of market specialists.

The current corporate culture has been run the same way for over a century. There have been enormous changes but the culture has remained the same and that is keeping you surrounded with known quantities and having all work defined in advance. People have a habit of always staying in the loop and freelance does not have this attribute which can leave employers astray and even confused sometimes. That is why businesses refrain from hiring freelancers and the profession is only considered by start-ups or one time projects and operations but the scene is slowly changing. Companies are integrating freelancers into their core business strategy.

“Businesses across the board are increasingly adopting freelancers as a flexible and sustainable method of hiring,” said Nikki Parker, North America’s regional manager at Freelancer.com. “They are getting freelancers more involved in key aspects of the business and, in fact, often delegating entire functions to freelance employees.”

Rich Pearson, Elance’s chief marketing manager, has observed a similar pattern, noting that some freelance positions are for projects extending as long as six months. This is an important trend for freelancers to pay attention to if they are looking for steady, longer-term work.

This is welcome news for the freelancing world because not only it gives us the idea that the corporate world is taking freelancers seriously but long-term work will also offer increased security and thus provide more motivation.

Hence, the prospects for work relations in the freelancing world definitely look better. The level of comfort will depend on the extent to which freelancing penetrates the global corporate in the time to come.

3. Do the current statistics guarantee a more prosperous future?

 

Future estimates and predictions can be made more precise and accurate based on current and past information.

 

In 2013, the number of businesses hiring freelancers online increased 46% and payments to freelancers increased 37% year on year.

This indicates a rising employer interest in freelance talent.

 

Elance reports the average hourly rate for UK freelancers increased 6.7% in 2013. This proves that more and more firms are taking freelancing seriously and the demand is showing a rising trend.

More detailed statistics can be found here.

Also, a survey by freelancer Ben Matthews shows that freelancing contributed $715 billion to the US economy in the past year. This is a huge game-changer benefiting the freelance world as this shows the upward trend and rise in all the demand equations. The revenues generated speak for themselves.

More of Ben’s research can be found here.

 

The statistics, the rising demands, and the favourable trends clearly indicate that the future holds a lot of good for the freelancing world. With the profession and the subsequent lifestyle still in its nascent stages, the opportunities for those who delve in deep today are immense.

I personally believe that more and more people will become inclined towards being full time freelancers in the time to come. As the global economy merges with the internet, the scope of this virtual office will extend to every niche and general sector available and create many stepping stones to success.