The job market in most progressive economies is being shaped by powerful forces of globalization and technology. There is a major shift away from full-time employment as the single source of income towards a more diversified structure that often involves some type of freelance activity. It is estimated that independent workers already account for up to 30% of the workforce in the US and Europe. This change is fueled by two trends – Lean Organizations and Modern Careers.
Trend #1: Lean Organizations
Advanced economies are ever more service-oriented. The share of the manufacturing sector has been declining for decades. The standard 5 day/40-hour work week put in place to organize factory workers a century ago feels outdated.
The traditional work benefits like health insurance, unemployment insurance, pensions, guaranteed wage increases, paid overtime, vacation and parental leave have increased the cost of labor significantly and create an incentive for companies to minimize their headcount.
Given the recent technological advancements, it is more efficient today to manage distributed teams, remote workers and contractors. These new work arrangements allow companies to develop agile structures necessary to develop leading edge products and services.
Many fields and industries are advancing so quickly that traditional training and staff development cannot keep up. Integrating independent talent into an organization allows companies to tap into specific expertise, bring in outside perspectives, and engage with the best of minds, and not just those available within the organization.
The Intuit 2020 Report predicts that “the long-term trend of hiring contingent workers will continue to accelerate with more than 80% of large corporations planning to substantially increase their use of a flexible workforce.”
The increasing demand for independent talent provides a window of opportunity for all freelancers and would-be freelancers. The rate-of-pay for this talent is increasing. A study by the Freelancers Union found that nearly half of full-time freelancers say they raised their rates in the past year, and more than half say they plan to raise them next year.
Trend #2: The Modern Career
Work is such an integral part of our lives that it impacts our overall well-being and defines a significant part of our personality – of who we are.
People’s expectations of jobs have changed. Wealth is being judged not only by the state of someone’s finances, but by the quality of life. The sense of contributing to something meaningful often feels more rewarding than just monetary compensation.
Younger workers value independence over the promise of middle-class comforts such as health insurance and pension benefits. Freelance in America found out that 18- to 24-year-olds are much more open to freelancing (47%) than Baby Boomers (28%). Additionally, about 50% of the freelancers surveyed by the Freelancers Union say that “there’s no amount of money that would get them to take a traditional job and stop freelancing.”
Getting a traditional job feels limiting: Why only work for one company, when they can choose to work for many of them … their own terms … and even remotely?
Freelancers are diversifying their income and rejecting dependency on a single employer by layering multiple jobs, gigs and project. This also allows them to explore multiple interests and to continuously learn rather than be stuck in the same job position for decades.
People with portable careers don’t have to worry about boundaries or finding work from one location to another without entirely changing careers. A portable career allows more freedom to choose where you want to live and work.. Portable careers and freelancing are also great for accompanying spouses, especially if your partner is constantly relocating for their work. As an accompanying spouse, you no longer have to feel you are giving up something you worked hard to establish every time your partner gets a new assignment. A portable career will allow you to quickly get back to work, even when you are in an entirely different country.
Anyone with an adventurous spirit seeking to live a more mobile lifestyle should consider a portable career as a freelancer. If living in a different country or moving to different areas within the same country is appealing to you, then having a career that can be reestablished quickly and easily from place to place is ideal. Consider engaging in the workforce revolution and enjoy a fulfilling work while living wherever you choose or where the winds blow you or while traveling the world!
WANT TO KNOW MORE ABOUT MOVING YOUR CAREER TO A FOREIGN COUNTRY?
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