May 27th, 2019 | Updated on July 31st, 2020
You are the only one who is thinking about gig economy jobs. There are many like you, who want to go gig, because it leads to better work, life, and money. Increasing number of professionals are ready to unplug from traditional organizational careers to have greater autonomy, flexibility, and a sense of control in their “gig” lifestyle.
According to a recent Upwork survey, the freelance workforce in the U.S. has grown by 3.7 million workers in the past five years, meaning that more than 1 in 3 Americans worked independently in some way in 2018.
A survey has found that many independent consultants were much more satisfied with their work-life balance than their employed peers.
Flexibility has no longer remains just a watchword. It is now more prevalent in practices. The Eden McCallum LBS Future of Consulting Survey 2018 has revealed that independent consulting is offering an attractive, sustainable and in many cases preferable career path for talented professionals.
Here are 10 facts about ‘going gig’ lifestyle of a freelancer:
1. Going Independence Is A Choice, Not A Compulsion
Most deliberately chose to go independent, with 50% choosing it proactively, and 40% citing a mix of push and pull factors.
2. A Greater Control Over Their Own Life Is All They Want
Majority 0f independent consultants chose this way of working to gain greater control over their own time, a better work-life balance, and to work with clients in a different way.
3. Control Over Time Is The Most Important Factor For Women
Among women independents, control over time was an even stronger driver: 60% of women cited this as a top 3 reason for going independent, compared with 39% of men; 49% of women cited work-life balance, versus 29% of men.
4. There Are Three Triggers For Going Gig
Three triggers for going gig are:
- Control of time
- Work-life balance
- Work differently with clients.
5. Gig Economy Jobs: Clients Are Alos Benefitting
When asked to compare their project work now as an independent to when they worked in a traditional consulting firm, they report that the outcome for clients is better now: 91% said the work was better value for money for clients, 76% that their work is more efficient, and 61% that their projects are higher impact for the client.
6. Top Five Important Factors For Independent Working
Top five important factors for independent working are:
- Intellectual challenge
- Choice of WHICH work
- Work-life balance
- Choice of WHEN I work
- Choice of WHERE I work
7. What Are The Top Five Important Factors For Employed Professionals
- Intellectual challenge,
- Personal development,
- Financial security,
- Choice of which work,
- Work-life balance.
8. They Work Around 180 Days A Year
Independent consultants are working on average around 180 days a year, of which 135 are billable. 65% of them are billing their target days or more, and 67% are earning either the same or more than when they were in full-time employment while on average working fewer days.
9. What Are The Characteristics Of Those Who Thrive On The Independent Route?
According to the survey, in considering the keys to their success independents rated their ability to work in uncertainty, their adaptability and inherent optimism as very important, as well as the strength of their network and their capacity to focus on their strengths.
10. Women Experience Independence Differently From Men
Something else pretty remarkable happens when women leave permanent employment and set up as an independent consultant: they start earning what they are really worth. The market delivers for them. Another way in which women experience independence differently from men is in the deeper satisfaction they take from the work.