Written by By Alexa Voutee, for CNN
Freelancing is all the rage right now, with millennials increasingly finding themselves unable to find a paying 9-to-5 position in the traditional sense. In June, Glassdoor revealed that “60% of millennials believe the workforce is structured badly” compared to only 28% of Baby Boomers. These data points confirm that we are in an age where flexible working conditions, when it suits you, are the new norm.
The growth of online freelancing platforms is a huge boon for employers and employees alike. This has offered a new way for employees to enter the job market. Once they have made their pitch to employers, they’ve received feedback that reveals what they can do best, what they need to improve, and is also graded for potential savings. In contrast, an employer would spend time and money searching for potential candidates, only to have them turn down the job without even applying because they want to freelancing full-time.
Here are some ways Freelancing Is Changing Work
Benefits vs Costs
As Freelancing Is Changing Work continues to grow and the number of freelancers increases, it’s becoming increasingly apparent that the cost of freelancing – in everything from signing up, booking clients, and money spent on co-working spaces – is less than traditional full-time positions. Freelancers often stay with one company for long periods of time. This can create a sense of stability and security – a factor employers can and should consider.
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An App for What?
This is an area where artificial intelligence has made a substantial difference to the way we work today. Many tools already exist for freelancers to manage their bookings, manage feedback from clients, build momentum, and find opportunities.
In fact, a number of established freelancing platforms already employ artificial intelligence as their primary platform. For example, Guru, which operates in the United States, has used machine learning to ‘learn’ the way people interact with its software. Through this ‘learning’ process, which is often accompanied by a monthly data dump, its technology can now detect and address all of the ways users can be pushed into a scenario by a third party agent. The platform even has tools that can automatically return missed meetings to their clients and book clients in-person for them. This means that using AI-powered systems to manage operations will be the norm in the future, and not a rarity.
Despite the huge impact AI has on Freelancing Is Changing Work, some commentators still question whether it will turn out to be a silver bullet solution. It’s important to remember that existing technology like the tools we already have in place will be important in the future. It just relies on people adding new technology to their workflow.
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The Case for Rules
Another issue that has been raised about freelancing is the notion of “no rules” working, and the lack of regulations for both workers and their clients. Don’t get me wrong — self-employment is one of the most rewarding things you can do in your life, and deserves every benefit it can get. For instance, paying taxes, healthcare, and paperwork is part of the nature of a full-time job. At the same time, the caveat here is that some people with a flexible schedule or those on a two-to-three-day-a-week basis may not be as suited to self-employment as others.
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To a large extent, the regulations governing the industry are linked to regulations and tax rates relating to full-time work. However, tax regulations are changing in relation to freelancing. For instance, a number of recent Supreme Court decisions related to how we address freelance workers have established that they can rely on pass-through income, which is taxed as ordinary income. For some workers, a tax credit for personal expenses may also be able to offset certain non-business expenses, resulting in lower tax liabilities and benefits.
Time Inc. and PR Biz Inc. all use this option.
My take: Freelancing Is Changing Work is a fantastic example of how technology is changing the way we work. Once we allow technology into our workplace, we’re going to see our employees using it in innovative ways that will benefit everyone. Employers too, who use it are going to get a better idea of what their employees can deliver and what they require, and that is good for everybody. We may even end up with a workforce in which the skills required are more varied and varying, and one that is actually more productive.