The impact of Covid-19 on Freelancing Work

The Novel Coronavirus (COVID-19) has inflicted havoc on the global job market, leaving many unemployed or reduced work hours as companies adapt cost-cutting measures. With this sudden hit of pandemic, lives of every individual has largely impacted, especially the shift of office workspace to remote workspace. As we witness the continuity of spread of Covid-19, the remote workforce has become the new norm.

As full-time staff positions shrink, yet one workforce that stood still in this weathered storm is the freelance work. This segment has seen a surge of 25% job openings during the span of April to June quarter of 2020; according to Freelancer’s “Fast 50” report.

The Acceleration of Freelancing Work

The Covid-19 crisis has injected the global economy with a sense of urgency. An explosive growth in new freelance registrations and business requests for workers have begun since Covid-19. As the economy and office work spaces have been stalled, greater confidence is found in the effectiveness of remote, temporary workers.

Businesses that were gradually moving towards leaner workforce have fast-tracked their efforts due to necessity. Companies that may have been resistant to remote working or using contractors on a project-by-project basis have now discovered that their own employees are just as efficient working from home as they used to be in office; given a few changes to adapt to.  

The Upwork Report estimates that 45% of hiring managers expect a hiring freeze for the probable future and 39% expect continued layoffs throughout this pandemic.  However, 73% of hiring managers surveyed in the report plan on maintaining or increasing their hiring of independent, project-based freelance workers and roughly half say that Covid-19 has made them more likely to use freelance workers.

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The Future of Freelancing Post Covid-19 Looks Bright

As the global economy is facing tough time, the question arises; What’s next and will the economy prevail? Freelancers believe that the remote workforce has come to light and has been able to take its place as center to all types of workforces. As per the report of Freelancer’s “Fast 50” report, 53% freelancer’s workforce expect that demand will increase, while a total of 21% think that demand will remain the same prior to the pandemic.

The uptick reflects a shift in the post-Covid-19 global jobs landscape, as employers re-evaluate budgets and opt for a more flexible workforce. But it also indicates a growing interest among employees to move toward independent work, Freelancer’s CEO Matt Barrie told CNBC Make It

Therefore, the key to survival is stated as: “To adapt”. So if you have experienced job loss or wish to move towards an independent work environment, this is the right time to take your chances.

Tips to get started

As we know, the job market is likely to stay unpredictable for some time, freelance work could provide a suitable option for some people.  Some of the tips to get started are:

  1. Know Yourself – Spend time on some self-introspection and figure out what it is the right kind of working style for your personality.
  2. Test your field – test your freelance career by doing a few individual jobs while maintaining your other sources of income.
  3. Build your brand – if you have made up your mind to commit to freelance work, its wise to spend time filling out your online profile.
  4. Keep Upskilling – Ensure your skills remain up-to-date by taking advantage of free online resources such as Coursera, Udemy, etc.
  5. Know your worth – Finally, make sure you know your market value and adjust your costs according to your expanding abilities.
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In this unprecedented times, it’s important to find your niche – an area where you bring “something extra” to the job.

Adapt to your new Skills

The fact that markets are in mayhem, families are struggling to meet their day-to-day needs and thousands are getting sick with every passing hour. Its difficult time for everyone. However, we must understand how workplaces and arrangements are changing and adapting. Adding to your skillset and even pursuing something new that would add your value on the freelance market would be a great start.

It’s time that you adapt to your skills and seize some freelance work opportunities.

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