The Death of the Full-time Job
September 27, 2015
September 27, 2015
The world has gone crazy about freelancing. An increasing number of professionals are making the switch to a freelancing career, quitting their permanent jobs for more freedom, better perks, and being their own boss. After all, who wants to work 40 hours a week under an aggressive employer who is always standing over your head and dictating terms?
So does it mean death for the full-time job and birth of the freelance industry?
In the past, the 9 to 5 job was the centerpiece of work life. Today, more and more individuals are preparing their move from the job-centric system to the information-powered individual economy.
Professionals are keen on taking the plunge into the world of freelancing as a multi-faceted free agent and are happy to refer to their full-time job as “ancient history”!
When you aren’t happy with your permanent job, there can’t be a better option than freelancing.
As someone who has been working as a solopreneur for over 8 years, I have seen it all – witnessed the decline in interest in full-time jobs and arousal of interest in part-time gigs. When I quit my steady job, the feeling was more like “mission accomplished.” Today, I am happy to announce that I have never been happier at work ever before. I stayed at a dissatisfying job for years before finally hanging up my boots.
Glad, I made the decision to say it quits to my boring 9 to 5 job and to start on an exhilarating journey, full of rewards and excitement. The journey isn’t over yet, and I am enjoying every bit of it!
Of course, you can’t make the decision all of a sudden and need time to introspect and assess the job market before saying good-bye to permanent employment. Moreover, a career transition to freelancing means giving up paid sick time, health insurance, and vacation time.
These are some issues that reflect in the minds of all those who decide to take the plunge into the freelance industry. Nobody dreams of being a temporary worker, but it seems to be the best option in today’s economy and job situation!
A World Without Jobs
A permanent job is a contract between a worker and an employer, wherein the former agrees to devote their valuable skills to the latter at agreed upon terms in return for regular income, which include working hours, time, place, and schedule.
It’s more about expectations & responsibilities of the position and interrelationships with co-workers and employers, not to mention the explicit implicit agreements about how to conduct yourself, how to dress, and when to show up and when to leave. Then there is the question of overtime and related issues. It keeps getting complex.
On the contrary, freelance industry, though in its embryonic stages, is focused on simple, hands-on work, with no long-term commitments or contracts to stick to. You enter into a short-term contract with a client, do their work to satisfaction, and get paid, with no issues of having to deal with difficult co-workers or commuting long distances to reach the workplace. Choose your own place of work, set things up that make your task easier, and you are all set to take a pleasant journey.
An increasing number of companies are shifting focus to contracting out work to cheaper markets, instead of hiring permanent teams that are more expensive. This sends positive signals to professionals wanting to bid good-bye to their permanent jobs.
As a worker, you may find freelancing as a lucrative opportunity to transform yourself into a “nano-company,” without requiring any expensive capital equipment or infrastructure. You are your own boss with easy visibility and access to some of the most powerful freelancing platforms that promise to bridge the gap between you and your potential clients. One such on-demand freelancing marketplace is Power Hustle, where it is seamless to set up your account and start receiving job invitations from potential clients.
With unemployment rates rising in the United States, more people see hope in a freelancing career as a path out of joblessness. There is no dearth of work in the freelancing industry. With very little capital, you can kick-start your business and create your unique selling point and stand out from the crowd, offering extraordinarily valuable services.
The search dynamic lets you find the focused audiences that need exactly what you have to offer as an individual economic actor. There is no shortage of audience in need for your talent, creativity, and insights. Digital evolution has ensured that the market for your economic value lies in your hands.
It is this economic revolution that threatens to slowly wash away permanent jobs and make way for the growth of freelance industry.
Full-Time Job: The Most Expensive Box on the Shelf
Imagine visiting an imaginary store to buy labor solutions for getting your tasks done. You will be amazed to find an astonishing array of choices – full-time, part-time, outsourcing, crowdsourcing, and freelancing, among others.
In this age of economic flux and uncertainty, the largest, the most expensive, and the least flexible and competitive box, that is, the full-time job box, will be seen as the riskiest alternative. Sane customers might want to try other economical and less risky alternatives first.
With the full-time job being the most expensive option for companies, businesses are looking to leverage the talent of independent professionals to take care of their projects as they come, that too, without the headache of hiring permanent employees and making expensive infrastructural arrangements.
The transition from full-time to part-time or freelancing jobs is gradually picking up momentum. It won’t be a surprise if it soon takes the form of an avalanche and threatens a majority of steady jobs. As more and more individuals make a career transition, the steady rise in part-time jobs is accelerating the pace of erosion of breadwinner jobs.
What’s more, the information-driven movement toward collaborating independent economic actors is proving to be a big drag on full-time jobs. With the advent of technology, collaboration has become seamless, costless, and frictionless, giving independent contractors the best platform to showcase their skills and land in gigs that interest them and keep their work spirits high.
This only signals toward the emergence of an individual economy where professionals are unwilling to spend a majority of their lives working under someone as employees.
Good-Bye Full-Time Jobs
Freelancing seems to be the best way forward, with just a handful of businesses showing readiness to commit to hiring full-time employees.
The present situation points toward a structural shift, wherein there will be noticeable increase in the use of temporary help. More industries are shifting focus to using contract workers. With a lot of perverse incentives for businesses to hire part-time labor, industries beyond verticals are using more contract workers.
Outsourcing to independent contractors allows businesses the flexibility to increase or reduce their workforce as and when desired and thus save big on cost.
Innovative, intuitive, and interactive freelancing platforms, such as Power Hustle, are making it cheap and simple to start an independent venture, allowing professionals to be solopreneurs and set up their standalone business.
On the other hand, professionals see freelancing as a lifetime opportunity to enjoy a flexible work schedule, spend more family time, and work under less pressure, as opposed to steady jobs. Freelancing is seen more as a lucrative work opportunity to live your dream career and work independently, putting as many hours into working as you may wish.
Long-term employment is unequivocally dead, and doesn’t have a chance to come back. Access to opportunities is no longer limited to location. Thanks to the advent of digital technology, you can sit in New York and work for a Birmingham-based client. It’s as simple as that.
The Road to Freelancing
When you need no one’s permission to be yourself, you can self motivate to perform better and live the life true to yourself. Freelancing offers you this freedom to be yourself both at work and home. No one who takes a road to self-employment wants to return to full-time job.
Freelancing affords you more work opportunities and access to clients all across the globe, so you have more freedom and a sense of autonomy and less restrictions and loyalty to a specific organization. You may work for as many companies and clients as you desire and set a goal as to how much money you will make every week.
The demographics of workers are changing. With it, employee attitude, expectations, and values are undergoing a dramatic change. The mind-set of permanent employment doesn’t exist for a number of young employees. Many aren’t even aware of the notion of pension. In all totality, professionals simply expect to work at flexible hours at will, spend time with family, enjoy vacation time, and strike a harmonious work-life balance, without having to be loyal to a single employer.
The writing is on the wall – full-time jobs face death and are slowly but steadily going to meet their dead end. The freelance industry is flourishing, and it is time to join the bandwagon of self-employment and make a switch to a thriving freelancing career.