Freelancing and “blended workplaces” is the new workplace of 2024
Freelancing is taking over the economy, in the U.S. and globally. In fact, freelance professionals are set to comprise the largest share of the workforce, making up a staggering 50% by 2027, and we can expect this figure to continue to grow.
We are already seeing evidence of this sharp growth, with 64 million working Americans taking part in the gig economy, making money from side hustles or work that is fully independent from an employer.
This freelancing trend is one that should be studied carefully by all professionals, whether you are already a self-employed freelancer or not, because this new workforce is set to disrupt the current workplace as we know it and everyone will be affected in some way:
Leaders and managers should be well-informed of current freelance trends so that they can be better prepared to address any potential challenges that might crop up in their current workforce, and so that they can collaborate more efficiently with, and leverage the expertise of, freelance workers.
If you are not a freelancer, you still need to be aware of these trends so that you can adapt your skill set accordingly, and set your expectations for future collaborations with freelancers outside of your immediate team; additionally, understanding these trends might persuade you to become a freelancer too.
And of course, freelancers need to know what is happening within this new type of workplace so that they can adjust their services and approach to finding freelance work, and develop appropriate skill sets.
So, what are the freelance job trends that are set to disrupt the economy and the global workplaces in 2024 and beyond?
Artificial intelligence is a dominant factor that will impact freelancing in several ways. First, it will have important implications for the way freelance work is performed; it will also affect the types of freelance work that self-employed professionals can do, because of increased demand, or cannot do, due to decline in demand. Thirdly, since employers are using AI in their workforces and laying off workers as a result, they are more keen to tap into the services of freelancers for short-term projects, as a way to balance out the workload of remaining team members.
AI will help freelancers become more productive and eliminate the tedious admin tasks, or “work about work,” as it is often called, that consume much of a freelancer’s time. It can also be used to generate business ideas, in addition to augmenting essential tasks such as:
Freelancers, supercharged by AI, are set to positively disrupt the economy
Another significant trend that is well under way is that of the blended workforce concept.
What this means is that instead of teams being traditionally composed of in-house employees, workplaces are evolving to integrate these traditional teams with independent freelancers, bringing them on board as a short-term solution to be part of the team for the completion of a project. One example of this is a Fiverr study which demonstrated that 70% of those employers who laid off workers last year and this year have started hiring freelancers, while almost 30% expect to hire freelance professionals within the next six months to a year.
This means employers will need to rethink their management strategy to understand how to relate to freelance workers. As well noted by Harvard Business Review (HBR) in the aptly named article, “Highly Skilled Professionals Want Your Work But Not Your Job,” it’s time for the rules of engagement to be rewritten and this requires a holistic and collective approach from managers and HR professionals.
As increasing numbers of professionals enter the freelance workforce, it can be expected that the freelance job market will be highly saturated, and it will take significant effort to stand out from the crowd. Popular freelance marketplaces such as Fiverr and Upwork are perfect examples of this, where freelancers can tend to be overtaken by a flood of other freelancing professionals bidding or competing for the same project.
This highlight the increased need for freelancers to establish and create their unique voice and personal brand, as early as possible.
Focus on delivering high-value, even to the point of over-delivering. Develop a strong presence and find innovative ways to source and retain clients, outside of freelance marketplaces popular in the gig economy.
For example, create a website to establish your online presence and digital footprint, and ensure your LinkedIn profile is well-optimized to attract clients. Figure out your USP and make it clear in all of your messaging. Just as when applying for a regular job, only the best will win. So if you believe you’re the best at what you do, shout about it.
The “blended workforce” means that employers will need to rethink their management policies and … [+]
The next important trend that is gaining significant traction, thanks to new technological advancements such as AI and the rise of remote work, is the increased demand for digital services. Freelancers can capitalize on this by opting in for:
As more professionals join the freelance workforce, it can be expected that the number of platforms, marketplaces, and products aimed at this relatively new workplace demographic will increase. As a freelancer, it’s important to carefully research the tools and support you need to be effective in your work. Consider your current budget, and make room within it for learning and development, and for software and products that will augment your workflow.
Gen Zers and Millennials are stealing the headlines and adopting the freelance-forward movement faster than you can blink. Gen Z workers, in particular, are well-known for having strong opinions and ideas of what work should look like, and unlike many generations before them, they have little loyalty to employers, being willing to jump for another employer or self-employment in a heartbeat due to conflicting ethics, inequality, and climate issues.
This perhaps explains why more than half (53%) of Gen Z and 44% of Millennials are freelancers. Employers need to understand what the implications of this are for their workforce, and adapt their management style to work effectively with Gen Z and Millennial freelancers.
In a digitally focused, Gen Z-powered, and AI-enhanced global workforce, what are the implications in store for freelancers, employers, and professionals in general?
All six of these trends have already started making waves. It’s time for us to accept that the workplace will look drastically different from what it was five or even 10 years ago, embrace the value that freelancers provide to the economy, and support these “employees” who do not have the protection of a job, as much as possible with the tools they need to be effective.
Gen Zers and Millennials collectively comprise the highest share of freelance professionals
That will mean different things for different people. For employers, it could mean to provide live collaboration software to enhance team communication, while for freelancers, it might entail upskilling with a Google career certificate or other course.
But regardless of what choice one takes, you cannot escape the reality that freelance forward is the new buzzword.
