Last year, over 47 million Americans voluntarily quit their jobs in a mass exit from the workforce that is now widely known as the Great Resignation. According to a new global survey by PwC, one in five say they are likely to switch jobs in the next 12 months. While a record-breaking number of workers are quitting their jobs, it’s important to take a look at the reasons WHY they’re leaving. The Great Resignation is more of a reprioritization. After the past two years, more people are taking a hard look at what they want out of a job and a career. The need for flexibility and a better work-life balance is driving people away from full-time and towards a freelance career path.
Workers Want Flexibility
Just how much could the freelance population grow as a result of The Great Resignation? According to recent data, 10 million Americans are projected to be seriously considering the move to freelance. Of those workers who are already planning on quitting their full-time jobs, 52% are considering the move to freelancing. These workers want flexibility and the ability to work remotely. In fact, 24%, in a recent UpWork survey, 73% of those workers planning to more to freelance cite the ability to work remote or flexibly as the top reason why.
What Does This Mean For Companies?
Businesses need to get ready for this shift and stop treating freelancers like an afterthought. In the future, most workplaces will be a mix of full-time, hybrid, and freelancers. With almost 11 million current job openings in the U.S., hiring freelancers can help businesses fill the skills gaps.
While workers understand the benefits that come from a freelance lifestyle, there can be benefits to businesses as well. The same flexibility that people crave in their work-life is the same flexibility that can benefit managers. By assigning projects to freelancers with specific skillsets and using them only when and where they are needed, you’re creating a much more efficient workstream.
By hiring more freelancers, managers can access top skilled workers with specific expertise and see a faster turnaround on important projects. Cost savings can come from only paying for work when and where it is needed to help businesses scale even faster.
While the Great Resignation has transformed expectations in traditional workplaces and led to a boom of freelancers, this can lead to a great opportunity for employers to embrace contractors, consultants, and other types of flexible work arrangements.
Planning to work with more freelancers this year? AllWork can help you onboard, manage, and pay your flexible workforce. We offer fast, easy, and compliant payment options. Get in touch at email@example.com to learn more and see a demo of our platform here.