Majida Yousaf (PhD scholar at PIDE)
The terms “freelance” or “freelance worker” are used to describe people who are self-employed and are not committed to a single employer for an extended period of time. Due to economic instability and the development of the internet since the 1990s, thousands of people have lost their jobs and numerous organizations have shut down in different parts of the world. The “freelancer” is one type of “entrepreneur” as a result of the promotion of entrepreneurship by academics, the media, and schools as a viable and essential strategy for living in the digital era.
Freelancers can offer their services on a variety of platforms, including Fiverr, Up work, and Freelancer.com. Graphic design, digital marketing, writing and translation, testing and programming, virtual assistance, music video creation, etc. are a few of the online career prospects. Working with clients from around the world and having access to a worldwide market are two advantages of online freelancing. There are many different reasons why people choose to freelance online. Being your own boss is one of the motivations people turn to freelancing.
Freelancers are able to choose the client they wish to engage with and can work according to their interests and areas of skill. Freelancers are not required to work with obnoxious clients, and they are always free to stop the contract. Numerous motivations, like the desire to make more money, the lack of set working hours, the desire to make money while pursuing an education, the ability to work multiple jobs at once, and others, motivate people to engage in freelancing.
Several people on Facebook and YouTube, Charities, and government agencies began to offer freelancing as a course after noticing this significant change; as a result, thousands of young people have been prepared to begin jobs as freelancers. In fact, a sharp rise in freelancing over the past ten years has been seen; people leave their jobs to work for themselves. There are many causes for this, including: employee layoffs, people who aren’t enjoying their jobs, unemployment, and other factors.
The top three freelancing platforms made billions of dollars in revenue in 2020 and 2021, according to statistics. Since 2016, Up work’s revenue has increased by more than four times, from 164 million in 2016 to 373 million by 2020. An estimated 1.2 billion freelancers work worldwide (almost a third of the overall employment).
The total number of independent contractors in the US is predicted to surpass 90 million by 2028. In 2020, the COVID-19 pandemic will have contributed to the entry of 2 million new workers into the gig economy. 96% of those who started freelancing during the pandemic anticipate to keep doing so in the future, and they have reported favorable financial results. In fact, one-third of Gen Z freelancers started their businesses during the outbreak. In addition to becoming a force to be reckoned with, independent labor is also still growing.
The role of disseminating knowledge about freelancing is investigated that the independent workforce is growing faster than ever. Throughout the past 20 years, the Pakistani government has made significant investments in this industry. In FY 2019–20, IT & ITES export remittances increased to $1.23 billion, including US$150 million earned by freelancers.
Whereas the export remittances of independent contractors/ freelancers have quickly climbed to US$ 219 Million in the initial period of FY 2020–21 and reached to US$ 400 Million at the end of FY 2022. There are thought to be 100,000 “active” freelancers (who at least earn $100 a month) are working from Pakistan right now, bringing in a significant amount of foreign currency for the nation.
Even though it is a fact that the quantity of freelancer is rising day-to-day, these freelancer’s facade many difficulties in their expedition for reliable contact to first-class work and contracts. A second issue is that there are no regulations addressing gender differences when applying for jobs on online gig marketplaces. Nevertheless, finding a regular job on a digital platform remains the biggest challenge for most freelancers, whether they are seasoned pros or brand-new. After the service is successfully rendered, they also have trouble with payment protection. Due to the gig economy, managing human capital has some unique challenges.
In order to manage these administrative tasks, the organization must invest valuable time and resources. Businesses may need to take opportunity costs into account. When selecting the tasks that can be completed by gig workers, businesses should use due diligence. It should simultaneously ensure affordability, privacy, and other resource upgradation.
Freelancing Future of Pakistan
