Freelancers have become a crucial part of business models around the world and are now a main source within establishing a workforce. Contingent workforce solutions have become increasingly popular as business owners have sought to find ways to reduce costs, while continuing to grow and establish their brand. A contingent workforce is the ultimate possibility, providing business owners a way to open new avenues for a company while keeping spending in check.
In 2017, 55 million people, roughly 35% of the US workforce were completing some form of freelance work in 2016. Experts were right when they suggested this number would continue to climb. The Intuit 2020 report suggests that within a few years, freelance work will become the new status quo, with traditional employment being the minority. Intuit also reported that 80% of large companies claimed they would be increasing their numbers of flexible workers and by 40% freelancers were expected to make up more than 40% of the US workforce. This is not a localized trend either, this type of change within the workforce is being seen globally.
Research is being conducted to continue investigating this new development and how it will impact businesses and employees in the future.