Future of Freelance

Cincinnati, OH | Posted: 02/16/2016 | Author: April Koenig

Future of Freelance

The signs are all over the place. An Intuit survey estimates that 60 million people will be independent workers by the year 2020. The Kaufman Foundation says that by 2040 the American economy will be “scarcely recognizable” due to the rise of the freelance consultancy class. What will this drastic change mean for businesses? Is it irreversible? Do we want it to be?

One obvious change will be the phasing out of the ‘traditional’ job paradigm, which will affect all aspects of business. “There’s a whole ripple effect if this is going to be an actual and growing part of the economy” warns Dane Stangler, from the Kaufman Foundation. “It’s going to put major strains on our public fiscal system. We’ve built all of our massive entitlement programs – whether it’s social security for retirement or health care systems or unemployment insurance or whatever – around this notion of a fixed job”. The growing pains of this shift will be apparent and drastic changes to policy will be necessary.

This emphasis on contract work will lead to a career of hundreds of small tasks, rather than one long-term job. Portfolios and self-selling will take place from the home office, as personal technology lends itself to business income like never before. The freelance artist almost becomes the travelling carpenter of old, bringing their toolkit to the jobsite. After the task is completed, they move along to the next project. This self-ownership means that the small business sector will see the largest job growth.

That job growth will also be due to the rise of third-party counselors for benefits lost in the changing job landscape. Providers of retirement, health insurance, tax planning and other assistance that were once associated with a permanent job will be meted out by other sources, both public and private. Other lost benefits of an office job will be compensated in different ways. Office sharing spaces, recently on the rise, will become more prevalent. Contract consultants will share the resources once found in traditional settings.

Finally, the future worker will be more directly responsible for his or her success. As an independent contractor, there will be no career ladder or credentialed path. It will be up to them to be sell their work and experience. The traditional loyalty found in today’s company setting will fade, serving as a double edged sword. The opportunities for a fulfilling livelihood will be numerous, but only for the savviest of earners willing to adapt.

Download PDF

Share on:  

More News

Meet Traci Moore, Director of Creative Development & Client Services, St. Louis

Traci Moore – Being Authentic is her Super Power.…More

Introducing Victoria Lunde, Account Services, St. Louis

When the shoe fits, wear it!…More

Create, Communicate, Cultivate

Channing Blake Nuñez is a Cincinnati native and a graduate of Xavier University. Her college career…More

Creatives On Call Hires the Ultimate People Person

Melinda Sipes joins Creatives on Call recruiting team enabling the firm to meet the increasing custo…More

$1000 Much Obliged Award

Hello. We’re hoping you can help us out. We have a super duper engagement for 4 UI/UX professiona…More

Creatives on Call Ups the Ante: Investing in Strengthening Client Partnerships

Kelly Kassebaum joins Creatives on Call in the company’s newly created role as Director of Sales. …More

Solving the Digital Disconnect: A Study on Connecting with Corporate Buyers with Confidence

Solving the Digital Disconnect: Connect to Corporate Buyers with Confidence…More

Women's Digital Disconnect Study Press Release

New Study Reveals the Digital Disconnect Between Women-Owned Firms and Corporate Buyers More than 2…More

Second-Tier Cities - Opportunities for Creatives.

It’s common opinion that the best jobs and top talent are highly concentrated in the "first-tier" …More

Finding the RIGHT Solution

January is a month of renewed optimism, almost every company is looking at what they will do to make…More

View More News & Press