For those that have been following the freelance reviews for a couple of weeks back, you would have known how insightful the reviews are. If you have not been coming along, now is a great time to be a part of and enjoy exciting freelance news I have carefully selected from popular websites and platforms. This edition features interesting facts and analysis for the first half of October.
Freelance Management Software Market to Get a New Boost|WorkMarket, Freelancer Technology, Shortlist Project
Source: Digital Journal
Here is an interesting update from Digital Journal. The most recent intelligence report released on Global Freelance Management Software Market speaks about different industry growth tendencies and components that assist in making analyses and predicting market forecasts. The report facilitates a general assessment of current and future market situations scaling from start to finish the market size, growth rate, percentage portion of key segments and technological advancement.
However, the measurable overview explains a definite critique of changing business sector elements that include growth drivers, roadblocks, market entry and exit, and influencing trends to better comprehend the outlook of freelance management software.
Key Players Profiled in this Report
I identified the major game changers of the Freelance Technology mentioned in the report; Shortlist Project Inc. (United States), Upwork Inc. (United States), CrowdSource (United States) Contently, Inc. (United States), Spera Inc (United States), Freelancer Technology Pty Limited (Australia), WorkMarket, Inc (United States), Guru Software (India), OnForce (New England) and Kalo Industries (United Kingdom). This report talks about the key players as it covers Business Strategies, Market Share, SWOT Analysis, Financials and Development activities.
Overview of Freelance Management Software
Freelance Management Software gives a unified storehouse to recruiting and payroll management for organizations employing specialists, freelancers, or experts. This software can be installed on-premises or in the cloud. It is beneficial to supervise the entire freelancer relationship sourcing a freelancer, assessing their competence to performance appraisal. You and I know this software is common among hiring managers in different end-user businesses to provide management support. I found out that around 57 million Americans are employed as freelancers. This product gives effective freelancers screening, onboarding arrangements, cost, payment and collaboration management.
Big Freelancer Survey results: Creative Freelancers Face a Fresh Crisis and Urgent Reform Is Needed
Source: Bectu
In February 2022, a survey that sampled 1479 freelancers was conducted. This was analysed on the Bectu website as it indicates specific areas the Big Freelance Survey asked about. These include background, financial inclusion, engagement in the entertainment industry as well as the hopes and fears of the freelancer industry.
Derived Facts I Found From the Survey
- About 50% of respondents expressed their insecurity about their current job.
- This figure increased to 65% for freelancers who are identified as disabled persons.
- In the past 12 months, half of the respondents indicated that they had witnessed or experienced at least one form of harassment.
- 27% of respondents also said their debts increased since the pandemic.
- In the industry, 35% of active workers doubted whether employment is a permanent situation.
The impact of the pandemic on creative freelancers was downright devastating and they keep on experiencing insecure and unpredictable employment following post-Brexit EU visiting restrictions and presently escalating issues such as low compensation, harassment, talent drain and discrimination. I acknowledge the report`s emphasis on the role of professional bodies to drive the improvement of freelancers’ working conditions.
This is focused on driving significant change and we encourage the business’ vital associations to meet up to guarantee a supportable future. We must not waste this golden opportunity to modify and create a better deal for freelancers. For far too long, freelancers have expressed similar concerns and challenges. It is now critical that we focus on concrete action so that these survey findings do not become forgotten statistics. e for the area.
It has also created several contents in writing to the newly appointed Culture secretary, urging her to use her role and expertise to work with them to champion the self-employed and freelance workforce in government, through fighting for a better-paid workforce and improved staff welfare.
Freelancing: How to cope with the cost-of-living crisis
Source: Readersdigest
Readerdigest has come again with this expository topic on how to manage one’s life even when the cost of living is high which is quite unfavourable to average earners even to freelancers. With 4.25 million freelancers in the UK, it’s one of the most impacted socioeconomics with the most horrendously terrible job stability, no employer-supported medical coverage and zero paid leaves. The cost for most everyday items is more terrible when you’re battling to take care of your bills in a typical economy.
The problem is aggravated when clients fail to pay on time, which nearly all freelancers face. I often complain to friends and family about not being paid for jobs, and they’re all shocked that months have passed without payment in some cases. It makes everything so much more stressful because budgeting is difficult when you have no idea when you’re going to be paid.
Looking For Alternative Streams of Income
Freelancers are making several sacrifices to absorb the rapidly rising cost of living. It’s hard not to wonder if as a freelancer, you should pick it all in for some job. It’s also tempting to figure taking on additional clients will bring in more money, however, that is not always realistic for freelancers. I’m working more and taking on additional clients, yet I still just have the same hours in my working day.
Saving Creatively
One of the most common pieces of advice I give other freelancers to those looking to start freelancing is to save more. And not only money, but freelancers are also coming up with innovative ways to give solutions to more personal problems like conserving water and energy.
However, none of these is a long-term, sustainable solution. Setting aside cash isn’t sufficient to settle the cost-of-living crisis. I have adopted online meetings to save fuel and travel costs and suggest using co-working spaces to keep home energy and utilize it wisely. Some have also considered moving to a cheaper region where the cost-of-living crisis is not as bad.
Every Penny I’ve Ever Made Is From Freelancing. The Secret — Learn How to Sell Yourself
Source: Entrepreneurs Handbook
I’ve read over a hundred books on entrepreneurship; it’s one of my favourite topics. I want to know how successful entrepreneurs made it, how they failed, and what they would want to tell me as a direct learner from experience. Then, at that point, the conclusion was drawn. These entrepreneurs knew how to sell their businesses since they were profoundly sure about their capabilities. However, I thought of sharing this recent article I saw in the Entrepreneurs Handbook.
Sell Yourself or Get Outsold
Your sales skills are what matters in the world of freelancing. The rate at which one secures offers is primarily driven by the way you sell yourself to the market. Steve Jobs’ conviction that the iPhone is a future item could never have been changed using any means. Jeff Bezos was very patient and persistent with Amazon since he was positive about what he is selling. I’m no of those two people, and I certainly don’t have a product like the iPhone or Amazon. So, what am I expected to sell? Then it occurred to me. I’m selling myself.
Your Confidence
An unconfident freelance is not anyway better than an ugly pet. The pet may be very friendly and helpful but no one will buy it even if it is cheap. Becoming confident comes simply from the inside. You really want to comprehend that you are fit for being the best freelancer, which is consistently a genuine explanation.
How You Look and How You Sound
I am not saying you should go under the knife to look good. However, you can control some tiny details; what you are putting on, the background behind you when you are on a call, the lighting and how confident you sound. These details are deal breakers that clients are not aware of.
Be Knowledgeable
One thing that differentiates good freelancers from great ones is knowledge. A freelancer who writes 5 languages could outshine you that is a software developer that writes 100 programming languages. Do you care to know why? Because the freelancer knows the real reason why FIGMA was sold to Adobe. Likewise, if you perfect your freelancing skills and forget about the rest of the world, then the world will favour someone else who is aware.
The Toll of Job Insecurity in Turbulent Economic Times
Source: BBC
The popular British platform BBC shared this educative article on their page. It speaks directly to the uneasiness that accompanies economic meltdown. Through the pandemic`s peak, industry demand was soaring high. Power went to the freelancers. Like other sectors, marketing experienced a huge number of resignations. People realized what they were worth and what they wanted. For freelance marketers, other people’s resignations meant being able to find the best opportunities and grasp them.
However, this started to change at the turn of the year. It was an early indication of a looming slump. Brands began scrutinizing their investments with third-party workers. Work that would have been appointed to consultants started to be taken in-house. It was a truly challenging time. I turned out to be more conscious of my spending, saw what freelance jobs were more accessible in the freelancing community and started upskilling. I learned business writing in my free time so I could turn to new open doors.
The Rise of Job Insecurity
Job insecurity caused significant damage. Based on my observation, this tragic event can affect workers’ psychological and mental wellness as well as their capacity for a financial plan. As the monetary picture darkens, workers are compelled to strategize, increase their responsibilities and opt for new sources of income as they attempt to earn enough to pay the bills. While full-time employment is relatively secured by labour laws, freelance jobs are more vulnerable to sudden drops in demand.
The Hidden Toll
Because they do not have full-time jobs to rely on, workers in insecure employment face a raft of pressures that their more formally employed colleagues are better protected. The interesting reaction I noticed was that the economic downturn has increased the pressure on freelancers to take on as much work as possible. Saying yes to more work creates a sense of security, not only does it mean accumulating more wealth during a downturn, but it also means workers aren’t reliant on a single source of income.
However, this type of financial planning is not without consequences. After losing contracts, freelance marketers may have taken on too much work to overcompensate, those who have lost a significant job have now taken on three or four contracts, even though they only have the capacity for one. We’re probably overworking, and burnout is possible, but at least we have a backup plan if something goes wrong.
