70% Gen Zers Prefer Freelancing For Job Security And Flexibility: Report

Gen Z is redefining career paths by embracing freelancing. A new worldwide report found that 70% of the Gen Z respondents have taken up or are planning to freelance with about 40% willing to go full-time with it. Amid mass layoffs and reducing tech roles, GenZ has moved to a more flexible and autonomous area to create job security for themselves. Fiverr's second annual Gen Z report surveyed over 10,000 people between the ages of 16 and 26 in the U.S., UK, Germany, and France.

Gen Z Wants Job Security, Flexibility, and Work-Life Balance

The study also found that nearly 36% of respondents consider freelancing to be an excellent backup plan in case they are laid off or their job is taken away by AI technology advancements.

To most, flexibility was the key to choosing freelancing, especially Americans. About 20% of the US respondents said they “work to live, not live to work”, up from 3% last year. This was supported by another data point that indicated nearly 30% of respondents want to travel for work and work from wherever they want. Thus, freelancing which provides greater freedom and flexibility seems like a clear such workers.

Furthermore, nearly a quarter of the respondents want to own their own business and 14% want to freelance for their entire careers.

In job security, about 10% of the respondents said they were let go and another 14% said they were afraid they would be. Thus, about 38% of U.S. respondents feel that freelancing full-time puts them in a position where they can’t get laid off and 25% believe that freelancing is more stable. About 18% of the respondents felt being a freelancer makes them less likely to be replaced by AI.

Should You Freelance?

Before jumping into freelance work, people should consider a few things. First of all, is the type of service they would provide and their skillset. Next is their financial situation and the room to account for potential financial instability. Also, freelancers unlike employed workers need to make their tax payments themselves. Thus, figuring out the tax situation beforehand is important.

Here are Some Tips for Freelancers Making Their Way 2024

Find an In-Demand Niche

Freelancers need to make sure that they niche down into specific market segments and conduct extensive research to understand the market appetite for the product or service that they are delivering. At the same time, you want to strike a balance so that you haven't completely limited your opportunities.

Leverage Social Media

With about 4.76 billion social media users worldwide, freelancers need to leverage platforms to grow their reach. Social media can be used to source clients and network with them there. A solid social media strategy with great content should allow businesses to engage clients and potential stakeholders.

Use Freelance Tools

Numerous websites and platforms act as matchmaking and marketing platforms for freelancers to connect with clients. The most popular platforms include Fiverr, Upwork, LinkedIn, People Per Hour, and FlexJobs. Leveraging these tools can help freelancers put their business out there and get quality clients faster by cutting straight through the clutter.

Prioritize SEO-Optimised Content

Starting a blog can help a business grow by boosting the searchability of the business on search engine platforms like Google. Content with the right keywords and on the current topics of the market segment can help businesses display expertise and win clients faster.