Freelancers are giving a boost to the economy but they are not really accountable. Many choose freelancing as a profession because of flexible work schedule and potentially lucrative pay.

Cost factor.

Health and other costs of hire rise so employers are looking to cut costs and save money. Freelancers provide excellent opportunities for employers to cut cosst and leverage on fixed expenditure. More and more people are looking to work flexible schedule. 'Field Nation' an online work platform and 'Future Workplace' an executive development fund cited that 74% companies want to hire freelancers on contract rather than via regular recruitment.

Long Tail Pro- a software company’s George DoRole(COO) said that, “ Other than top level of management, we almost exclusively hire freelancers and contractors, both on content marketing side and on the product side.”

Benefits.

The survey suggests that over 40% of companies who hired freelancers are satisfied with their decision. 75% of small business owners feel that hiring freelancers aremore beneficial to them than traditional hires. The Regear Group’s chief communications officer, Jean Walker said that, “Freelancing has its benefits for the freelancers ....and aside from project deadlines (they) are able set their own schedules." She also added that, “It’s a great way to work if you are patient enough to find best strategy that works for you.” Freelancing can be a good option for freelancers and for employers as well.

Impact on economy is yet to gain in sufficient numbers though. Freelancers can be laid off at anytime by companies compared to traditional jobs where the company incurs temporary losses before laying off staff.

Future of ‘Gig Economy.

Freelancing will continue to prosper in time to come. More American people look out for flexible schedules to work and online as well as offline networks provide the right opportunities for them.

If you look back to a few years ago, there was very limited scope of work for freelancers. Earning prospects also increased in recent times because of so many new areas of work development and innovation. A company’s hiring department can access broader resources compared to small immediate resources at local level.

Experts from the freelancing industry feel that scaling up or scaling down can be done with immediate effect because of contractual obligations rather than long term obligations.

GDP contributions.

Nothing much is expected from freelancing job growth currently but in future if the economy starts taking note of ‘Gig Economy’ as a source of growth then a noticeable economical boost is possible. There is a possibility of rationalisation of jobs between regular hire and that of freelance hiring. If both of these areas find balance in each other tean new ways of economic development can take place in future.

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