Are you tired of slaving away at a nine-to-five? You’re not alone. In today’s working economy, more and more workers are moving away from the traditional employment arrangement and taking on more independent work.
Independent contracting is fast becoming the norm, with one in five workers working on a contract basis instead of full-time employment. That number is steadily on the rise.
Why is the millennial workforce heading in this direction, and why might you want to consider working for yourself in this way? Read on, and we’ll walk you through what you need to know about independent contracting work.
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Employee Longevity Is Dwindling Fast
Gone are the days when employees would spend decades working with the same company. As this article on independent contractors explains, the longevity of an employee’s time with a company is down to less than four years.
Employees are hopping away from longer job tenures and seeking more flexible and rewarding working methods.
Workers are no longer content climbing the corporate ladder within a company they stay with for their working life. Instead, they’re looking for better employment opportunities in other offices and places of work.
This is also changing the way employers think about hiring. If you can’t count on an employee to stick around for a long time, the cost of onboarding and employee training goes up.
For this reason, some employers are moving towards hiring contracted workers because it becomes more cost-efficient for them.
The Rise of Digital Nomads
Another change in the culture? It used to be you had to live where you worked. With the advancement of tech trends, remote work has become the norm in many places of employment.
As a result, employees can more freely live anywhere they want and work for their employers from afar.
A worker who takes on jobs as an independent contractor is more likely to enjoy the benefits of this digital nomad lifestyle. Freelancing provides the freedom to work from anywhere globally, so more and more young professionals are switching to a freelance lifestyle.
It’s Easier For Businesses As Well
Of course, the work-from-home revolution has some benefits for employers as well. Businesses can massively expand their potential employment pool when they get to choose from independent contractors all around the world.
No longer do they have to worry about only hiring from local talent. The best and the brightest are all of a sudden available to them.
For this reason, employers will likely help push along the digital contractor revolution.
The Rapid Rise of Independent Contracting
The future of the labor economy is independent contracting. The above information can help you understand why this cultural shift is happening and why you may want to take advantage while the winds shift.
Do you need more advice on employment and the workforce? Are you looking for more helpful information? Then, keep scrolling through our blog for more.