The freelancing economy has grown multifold in the last decade. Millennials have showered love on it, as it gives them the opportunity to decide their own work schedule and set the pace of their assignments.
Truelancer, an online marketplace for freelancers estimates that India’s freelancer population is 15 million and growing. The global market for freelancers is worth $2-3 billion, of which India accounts for $1 billion
Thanks to rising internet penetration and technology it is increasingly easy for employees to work remotely and escape the grind of a regular job. Earlier you would have to register with recruitment agencies to get access to freelancing work, but now, it’s become easier than ever to find a job through portals like Upwork, toptal, rekroot, fiverr, 99designs, etc.
Freelancers are not the only beneficiaries of this trend. Companies, even big ones such as Ernst & Young, are also adding tremendous value by giving out specialised jobs not done throughout the year. And for start-ups that cannot afford to hire full-time staff, the trend is nothing short of a godsend.
Earlier, the freelance model existed mostly in the services industry. Now it is there in all sectors, including fast moving consumer goods and auto. Now, a number of companies are also outsourcing hyper-specialised jobs that are part of high-value projects. Freelancers are no longer perceived as ad hoc workers but professionals who can play a key part in a business's growth.
Data says content writing is one of the most lucrative areas along with software development, digital marketing and graphic design. India is still not a mature market for freelancers and is evolving. But like it or not, the freelancers are here to stay, and their numbers will only increase in the days to come.