Heads up: freelancers are in. Employees are out.
The workplace of 2024 is undergoing seismic changes, and we have AI to thank for that.
A new eye-opening research study on layoffs, led by Fiverr, revealed that the core reason for layoffs—contributing to at least 44%— is artificial intelligence, due to its capabilities leading to optimized efficiency and a reduced headcount.
To tackle the crisis and the overwhelmingly increased workload that many of the remaining team members and workers find themselves faced with, 43% of those surveyed confirmed that their employers gave them access to freelancers in a bid to reduce the pressure.
Nearly 70% of respondents confirmed that they hired freelancers after experiencing layoffs in their organization; 21% indicated that they will hire freelancers to support projects within the next six months, while a further 8% plan to hire freelancers within the year. Only less than 1% of managers surveyed said that they had no intentions to hire freelancers between now and 2025.
Interestingly, 40% of the roles which were made obsolete within their organizations, were skills-based. Evidently, employers place greater value on artificial intelligence capabilities, and the skill sets of freelancing professionals (non-permanent employees) than on the skills of their current workforce.
It turns out to be a win-win. If you've found yourself laid off recently and have been looking for work, especially high-paying remote jobs, but to no avail, you might be better off setting yourself up as a freelancer and obtaining work faster than if you were to go through the regular rounds of job application processes.
Additionally, being a freelancer offers you the opportunity to work on your own terms and set your own hours. Freelancing offers you flexibility, and the chance to earn more. With Freelance Mile, you can handle gig work better and reach your financial goals. Many professionals with caring responsibilities or other personal and family demands which hinder them from being able to take up a full-time position, find that they are able to experience a thriving career and make significant money, setting their hours flexibly around their schedule when freelancing.
Taking on projects for companies that would have otherwise hired staff to fulfil your role, enables you to experience the luxury of not being accountable to anyone for your location and specific hours of work.
You can choose to work part-time or full-time, and adjust the hours as works best for you and your corporate client. There are many examples you can locate all over the internet, of freelancers who work only three or four hours each day, and are able to use the remainder of their day working on other exciting projects or dedicating time to their family.
However, there is a slight caveat: Being a successful freelancer is not all sunshine and flowers. It would be misleading to indicate that starting your own hustle, as a replacement for full-time employment, is easy, at least to begin with.
You will need to think about admin-related tasks such as filing taxes, doing your own accounting, marketing to land more clients and a steady flow of income, and scheduling and responding to emails for updates and new requests—aspects of your role which were previously traditionally handled by your co-workers and team members in other departments.
This is why, as you freelance, you should seriously think about using automations and leveraging AI tools, and even collaborating with other freelancers, to outsource your projects, make your work easier, and lessen the administrative load that encroaches on your time. This way, you will truly be working part-time, while making close to full-time earnings, if not the equivalent or more.
The good news about working part-time is that there are a few sectors identified by The Hiring Lab, economic research by Indeed, which appear to have the most significant growth opportunities for part-time workers and freelancers. These sectors include:
Out of these sectors, the areas in which you may find significant opportunity to provide your services as a part-time freelancing professional (some of which provide passive income as well) include:
This wide array of roles is only the tip of the iceberg; there are plenty of other ways to make money online, from home, using your skills as a freelancer in pretty much the same way you would as a full-time 9-5 employee.
The only difference?
Your life and career is in your hands. You can be a digital nomad and experience the freedom and thrill of experiencing new places. You don't need to panic ever again about being laid off or being underpaid because, so long as you consistently put in the hard work, market yourself well, upskill and maintain strong branding, you will be living the career of your dreams...on your own terms.
