COVID-19 puts us in an unprecedented situation, and our life has turned upside down. We are building a new way of life far beyond what we knew to be normal. One of the changes is not to leave the house unnecessarily and do office work from home. This changed lifestyle is also creating questions in our minds about the future of many professions such as freelancing.
Many people have lost their jobs due to pandemics, and they tend to start freelance work. If you are one of those, it is high time for you to analyze the market before you jump in.
Types of Freelancing
'Freelance' is a term, but it has a broader meaning. Anyone who works a non-contractual job is a freelancer. We know that freelancing is a large field in which people of different professions work, such as writers, photographers, statisticians, designers, engineers, etc., and even people in the field of human resource development work as freelancers.
Pros of Freelancing During and After Pandemic
The recent pandemic has changed the freelancing industry. The demand for freelancing work has increased during the Corona period. The world's largest companies have begun to think again about freelancing. Although people of certain professions or people skilled in technology are involved in this outsourcing work, its boundaries are increasing day by day. Everyone from businesses to individuals is now looking for quick solutions in outsourcing.
In the Corona epidemic, small, large, medium-sized businesses all over the world, including financial institutions, have reduced their spending. Every organization wants to make proper use of the allocated budget. As a result, new jobs are being added to the list of outsourcing jobs. In particular, accounting technicians, entry-level accountants, auditors are also being outsourced by various international organizations.
The communication between paper and pen is also decreasing. Everyone is now looking at the software-based accounting department. Besides, other departments are also moving towards non-contractual employees. Hence the demand has increased for sure for the last one year. So, it is evident that the demand for freelancing workers will be on the rise even after the pandemic.
Cons of Freelancing During and After Pandemic
The most significant advantage of fixed salary employees is that they get many types of allowances such as Eid bonus, travel facilities, salary loan, New Year allowance, maternity leave, and retirement allowance at the end of working life. On the other hand, the freelancer will not get that.
Freelancing is not much secured compared to the fixed-job. At the end of the month, you get the guarantee of getting a salary, so you can rest assured all the time. And even if you lose your job, you get advance notice to find a new job. In the case of freelancers, you are not getting those benefits.
Besides, social acceptance in our country is relatively low. One has to stay away from sociality or community. There is no guarantee of income, and you have to urge yourself in your work. It takes a long time to get started and get settled.
Should you Start Freelancing During this Pandemic?
Before you start, you should keep in mind that freelancers always need to deal with uncertainties as the income depends on the client's availability. So, moving towards the freelancing job by leaving behind your permanent job will not be a wise idea. But you may consider freelancing as a side income besides your current job. However, if you lose your job and you have the proper skill, you may start freelancing.
Nevertheless, you will have to keep in mind that the market is already loaded with a lot of freelancers. You will have to work hard to sustain yourself in this competitive job market.
Is Freelancing a Sustainable Career Option During and After Pandemic?
According to Forbes, "the coronavirus pandemic is driving huge growth in remote freelance work." Therefore, the companies are thinking of alternatives and hiring freelancers from all over the world. So, this will be a good opportunity for freelancers to show their talent to the world. However, the question may arise about sustainability.
Anyone can sustain in any situation if they contain the proper skill and follow some tactics. Besides, you can also increase your skills while working for others. For sustainability, you may need to create your techniques.
How Can You Sustain in the Freelancing Industry?
Many people want to become freelanced as there are no fixed rules to attend workplace and tile schedule. But before starting out the freelancing profession, it is important to understand the challenges in this field. Many uncertain things associated with this profession, such as fear of getting sick from working at night, loneliness, and the regret of social recognition.
Most people think that a freelance worker needs to work day and night to complete the task within the time limit set by the client. Apart from this, even though one can earn a huge amount of money, freelancing work may not always be available. There is definitely a long wait to get work. For those who want are thinking to start freelancing or already in the industry, it is important to know a few things to have a sustainable career.
Learn Managing your Own Money
When working in a big organization, they fix many complex economic complexities. For instance, salary and taxes. When it comes to independent contractor-type jobs such as freelancing, you have to take responsibility for your own money management. In addition to filing tax returns in a timely manner, it is also important to find a way to save money. Freelancers need to pay attention to the fact that they have some savings at the end of the year.
Save Money for Emergencies
While working in an office, you can get leave if you are sick. But, in the case of freelancing, you will not earn money if you take leave. Hence, it is necessary to save money for the emergency situation. So, it is important to make a practice of saving money while you work as a freelancer. There will be many times when you don’t have any job in hand. There is no exact rule for how much money you will earn in a month. In one month, you may earn a huge sum, next month it can go to zero. Therefore, there must be a balance between expenditure and income. It is also important to save money for holidays for yourself.
Improve your skills
The freelancing marketplace is quite difficult for those who are just starting out. Finding work has become much harder now. However, those who are already established and have many employers are in a sustainable condition. So, for those who have fewer clients, increase your skill to get enough workload. Also, try your best at the beginning. Increase your own skills. Impress the client with your communication skill, work, and professionality. But first of all, it is necessary to prove your skills to potential clients.
Work According to skill
Firstly, think first if you are qualified to become a freelancer? Many people want to start freelancing without realizing it. Remember, this is a highly competitive field for skilled people. Nevertheless, it is very difficult to survive with a limited set of skills. So, you should not join without knowing the work. Working from home can be appealing. However, before starting freelancing, it is necessary to think about your skill and start working according to your skills.