How Gig Economy Is Continuing To Rise: 3 Biggest Trends
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According to The World Bank, freelance gig work accounts for around 12% of the global labor market, which indicates the high demand for remote work across various fields, especially in developing countries.
This report highlights the future of the gig economy, where businesses of all sizes require talented freelancers to quickly fill positions and support their business operations.
Some of the high-demand skills would be available for working remotely, including digital marketing, copywriting, web development, social media marketing content writing, etc.
In this research, you will explore common challenges faced by many gig workers today. Next, you will learn about several trending opportunities that shape the gig economy in the next decades.
What are some common downsides of working remotely?
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Even though, freelance work has many benefits over traditional 9-5 jobs in terms of schedule flexibility and working remotely anywhere in the world.
You can arrange a meeting with freelancers, and offer a contract on those best gig work platforms.
On the other hand, beginners may face stiff competition due to the influx of talented freelancers from all over the world.
This is one of the common issues that could potentially stop your dream of becoming a solo entrepreneur.
In addition to this, several challenges you may also face when becoming a freelancer:
- Income insecurity: your earning potential is limitless, but income can fluctuate depending on project availability.
- Loneliness: working remotely often leads to social isolation, especially for those without a strong social network of friends.
- Stress and depression: managing multiple projects on tight deadlines means you may have a lot of pressure to deliver exceptional results and meet client expectations.
I believe you can manage to overcome those obstacles and become a highly-rated freelancer if you have the right mentality and commitment.
The best way to predict the future is to take action, which means you are committed to working on your skill sets, and eventually, you will become an expert in your field.
In other words, clients will approach you and offer more project work, if they believe you can help them out.
Are you excited to discover opportunities within the freelance economy? let’s move into detail.
Related reading: What kind of Remote Jobs Are On FlexJobs? 4 Key Facts To Know
With the rapid growth of technology, it is much easier than before to search for freelance work and work remotely anywhere in the world.
For example, you only need a laptop with a stable internet connection to apply for any gig work like graphic design or online writing jobs using freelancing sites that help you apply and stay engaged with clients.
Upwork, Toptal, and Fiverr have invested their resources in developing their platforms’ functionalities and features, which means freelancers and businesses can simply enter a contract agreement and start working on the project.
According to research by McKinsey Global, the study predicts that around 400-800 million jobs could be impacted by AI automation in 2030.
This means low-skill freelance tasks may be automated while new jobs require freelancers to learn new skills to update with the market trend and demand.
In fact, some AI tools like ChatGPT play a key role in improving productivity and saving company resources.
You can leverage those tools to brainstorm new ideas, write a job or product description, etc, which means it helps to create quality content in less time.
Related reading: The 6 Best AI Writing Tools for Freelance Writers & Bloggers
Another convincing point that reflects the future of the freelance gig economy is work-life balance.
Unlike traditional 9-5 jobs, freelance work gives you all the freedom you need to work on your available schedule. Especially, you can set your boundaries by creating your own working hours.
You can respectfully decline the project offers if it is not 100% related to your specialty.
An important step to eliminate or reduce loneliness and depression is to maintain all the good aspects of your life, which means you should spend quality time social networking with others and keep your mind fresh by:
- Practice meditation
- Get yourself in nature and regular exercise
To back up this argument, around 77% of remote workers believe they are better off working from home than traditional office jobs in terms of maintaining work-life balance and improving productivity ( FlexJobs, 2023).
The biggest challenge many freelance workers face is loneliness, especially for those who don’t have many social friends.
By attending networking industry events and actively fostering relationships with others, you turn this problem into an opportunity to learn and share knowledge with other professionals in your field.
Remote work flexibility
Doing freelance work means you can work anywhere in the world.
In this case, make sure you have a high-speed wifi connection and a laptop to stay engaged and maintain active communication with clients.
By doing so, you can avoid misunderstandings between parties and meet their project expectations.
Leveraging advanced technology in online meetings with clients using Google Meet or Zoom can make it so much more convenient to stay connected and update projects’ progression.
Some features you can use like screen-sharing and document collaborations, which means you can improve collaboration, productivity, and communication with clients in real-time.
According to the Freelancers Union, time management skills are important for delivering better productivity when it comes to remote work teams. This means you have to set the same work schedule for yourself and other team members.
It can help to avoid burnout and misunderstanding when collaborating on the same project.
Final Thoughts on Gig Work Trend
Based on our research findings, the future of freelance work-from-home jobs is on the rise, especially with the advances in technology like artificial intelligence (AI) will shape the way we live.
In particular, your business can embrace AI tools to generate content ideas that can address the specific problems of your audience and build a long-term relationship with them.
Platforms like Upwork or Fiverr have essential features that allow you and your team to stay actively communicating with clients and progress tracking.
On the other hand, working remotely also has some potential drawbacks, including loneliness, stress, and depression, which means you need to have good time management skills to maintain your work-life balance in great shape.
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