Global markets retreated within the wake of compulsory shutdowns and stay-at-home orders meant to mitigate the spread of the novel coronavirus (COVID-19), leading to record layoffs and cuts to planned expansions across the board. It’s troublesome to fully gauge the fallout, however the International Labour Organization estimates that the equivalent of 400 million jobs were lost worldwide during the second quarter of 2020 because of COVID-19.
However, despite the grim employment outlook, there’s a bright side for those willing to seize the opportunity. As full-time employees positions dwindle, contract and freelance work is truly picking up steam. This includes highly technical roles, including statistical analysis, big data applications and software development.
Companies still want work to get done and are starting to get an improved sense of what a remote, on-demand work force will accomplish. If firms pay just for important tasks as they’re required and are ready to make a choice from a wider range of geographically dispersed workers, they’ll better manage the bottom line.
Adapting is the key to survival in the workplace. Whether or not you were already moving toward a additional independent operating scenario or have been prompted by job loss because of COVID-19, it’s in your best interest to think about your options. We’ll cross-check these broader trends, how businesses have gotten work done, and the way you’ll best position yourself for brand new opportunities throughout this era of seismic change.
The COVID-19 crisis injected the world economy with a way of urgency, however.
Businesses that already were step by step moving toward a leaner work force have accelerated their efforts because of necessity. Companies which may had been resistant to remote work or using contractors on a project-by-project basis discovered that their staff were even as effective working from home as they were within the office, provide or take some diaper changes or alternative home-related tasks throughout quarantine.
Freelancers and Contractors, beyond COVID-19
These trends toward a leaner, project-based work force are expected to continue beyond the present crisis, driven by the larger digital transformation movement and also the maturation of online services that match businesses with obtainable professionals. However as COVID-19 has motivated businesses that otherwise wouldn’t have thought-about using outside help, several experts believe most businesses can think about it a success and still use more freelance help in the future.
There are several reasons for this long run outlook, including:
As on-line platforms such as Upwork, Freelancer, Guru, and Toptal became a lot sophisticated, it’s easier than ever for businesses to search out the correct person for a specific project. This includes software developers and other extremely technical professionals additionally to writers, designers, and other staples of the freelance community.
When they’re not paying for long-run employment (including advantages and payroll taxes) or office space, firms can save a great deal of money by concentrating on project-specific, short-run hires. This is especially appropriate for firms that expect an exact ebb and flow with their projects.
Successful freelancers are agile by definition, particularly if they at the same time work for multiple clients or take short-run roles with restricted ramp-up times. They will be better at getting started and turning on a dime than in-house employees, although businesses additionally got to value the institutional information and expertise that comes with long-run employment.
If you’re a freelancer, then you recognize how necessary it’s to perpetually prove your value to short-run clients. Staff is also ready to skate by here and there, however if you’re invariably hustling for a lot of projects or new clients, you don’t have that luxury. Companies will have the benefit of this additional effort; however, high performers among your company also are valuable assets.
Nearly Limitless Talent Reach
Instead of pitching for new hires among a twenty or 30-mile radius, using freelance staff means that companies have a potentially global reach. They’re not limited by geography. Of course, this can also present certain challenges, such as cultural barriers or drastic time zone differences.
In-Demand Freelance Skills
The kinds of work that can be performed by freelancers, contractors, and freelance consultants is almost limitless—whether it’s done remotely or within the office—although it’s much practical for freelancers juggling multiple clients to work from home. However since the COVID-19 crisis has closed most offices, whereas prompting businesses to trim staff, several organizations are just starting to understand what’s possible going forward.
The wants of any given organization can vary, of course. Professionals operating as freelancers or planning to create that leap, meanwhile, must take stock of their skills and experience and consider upskilling through distance learning platforms, like Simplilearn.
The following freelance skills and roles will probably be in high demand because the world pandemic plays out.
Mobile and App Development
Companies across all sectors ought to refine their mobile reach if they hope to compete. Several of these initiatives, like building apps and optimizing web content for mobile users, will be done as short-run projects.
Specific skills required include Java, C++, and Python.
You’re most likely familiar with Bitcoin, however blockchain is regarding far more than simply cryptocurrency. Firms are harnessing this technology for supply chain management, secure business-to-business transactions, and different applications that need greater security and accountability.
As long as there are bad actors making an attempt to hack into networks, scam people, unleash malware or cause other kinds of advanced mayhem, there’ll be a powerful demand for cybersecurity professionals. There’s already a dire shortage of qualified cybersecurity professionals, therefore this is often a solid field within which to specialize.
Cybersecurity professionals want a broad understanding of enterprise design and networks in general.
The data science field is growing vastly and is taking nearly all industries by storm, helping businesses create smarter, data-driven choices that impact the lowest line and drive growth. Data scientists prepare data for analysis, visualize the info to convey its conclusions, and communicate to decision-makers. This is often an excellent field for freelance worker with robust mathematical and analytics skills.
Specific skills required include R, Python, Tableau, Hadoop, and Spark.
Machine Learning (ML) and Artificial Intelligence (AI).
AI has a long way to go before Skynet takes over, however it’s already being enforced in self-driving cars, chatbots, and digital assistants. Whereas AI is broader field of emulating human intelligence, ml is a set of AI targeted on creating computers “smarter” through learning on their own.
Specific skills required include ApacheSpark, Keras and TensorFlow.
Other technical skills and roles usually wanted out by firms on a contract or freelance work basis include web design and development; search engine optimization (SEO) and content marketing; game designers; statistical analysis; graphic design; augmented reality; and numerous different kinds of software development.
Adapt Your Skills and Seize Freelance Work Opportunities
Let’s not lose sight of the actual fact that markets are in turmoil, families are troubled to make ends meet, and lots of individuals are getting sick round the globe. It’s a troublesome time for everyone. However, we should all take stock of how workplaces and dealing arrangements are changing and adapt.
Adding to your skillset and even pursuing a completely new field may be a good way to spice up your price on the freelance market. Upskilling is additionally an excellent method for businesses to try and do more with a downsized staff. In any event, Simplilearn’s proven Blended Learning model can help keep the economy getting the correct direction.