Are Full-Time, Permanent Jobs A Thing Of The Past?

In one of the toughest job markets in recent times, people are asking how to find a job in such a climate. “It’s a tricky problem to solve because businesses are seeing a lot of pressure from their investors to find as much efficiency as humanly possible, so there aren’t a lot of jobs to be had,” says Rebecca Carr, CEO of SmartRecruiters, a top talent acquisition software company. As many ponder their next career move and find it difficult to secure that next big role, they begin to question: are permanent roles a thing of the past? “I would not say that it is a thing of the past, but I would say that work is reordering to be more flexible,” says Gali Arnon, Chief Business Officer at the leading freelance marketplace, Fiverr. Fiverr’s UK Future of Work Index reports that just 55% of companies’ workforce is comprised of full-time employees. The rest are a combination of freelance, contract, or part-time.

Looking at freelancers specifically, they offer multiple benefits to employers. First, 32% of respondents to Fiverr’s report said working with freelancers allowed them to take advantage of specific skills that may not exist in their current team. And secondly, companies can save a lot of money.

There are other benefits, as well. “In situations with economic uncertainties, businesses are looking for ways to work with different models that will make their budget structure more flexible,” says Arnon. Additionally, 40% of companies acknowledge that freelancers help manage and reduce the burden on permanent staff.

Another benefit of freelancing is finding your calling. “When there are a lot of people on the market, and you just need a job, you often say ‘yes’ to the wrong job,” says Carr. “The negative impact this has on your personal health and well-being is detrimental across the board. And this is one of the reasons I love the rise of gig work in this economy. You might just find that the job you wanted isn’t the job you want anymore. There’s a silver lining to moments like this.”

Why people are choosing fractional and freelance roles

“It’s a generational shift,” says Arnon. “When I think about my parents’ generation, they used to work at the same place for 25 years for a stable income. Now, we have a shift where I don’t think stability is the number one thing Millennials and Gen-Z look for. They’re looking for fulfillment. They’re looking to make an impact and leave their mark. Before, being passionate about a job was a bit of a luxury.”

Control is also driving the rise in the freelance market. People are increasingly willing to trade stability for flexibility in what they do, when they do it, and where they do it. “It’s a mindset shift fueled by technology,” says Arnon. “You don’t want to spend your life in one job. You want to see more things and be open to more opportunities.”

Fractional roles are on the rise, too. “Search LinkedIn for people with ‘fractional’ or ‘interim’ in their titles and there are millions. That wasn’t the case five or six years ago,” says Carr. Part of this surge is driven by the increase in people starting their own businesses. “You have small start-ups and they want the best experts, but they can’t afford them,” says Arnon. But fractional roles allow businesses to benefit from the strategic guidance of an experienced C-suite person without committing to a full-time hire.

Advice for those departing permanent, full-time roles

Ultimately, it’s about trusting yourself. “You have to say ‘I believe in myself and my ability to maintain a good relationship with my clients,'” says Arnon. “It’s a state of mind that I don’t need an employer.” And the second piece of advice? “Find ways not to be lonely, because freelancing can be lonely.”

Still not ready to make the leap to freelance? Then the question in a tough job market becomes how does one get selected in a crowded field. Carr advises to double-down on tried-and-true networking and joining community-based organizations. Regardless of role, “You need to figure out a way to articulate your value to the organization in terms of revenue,” says Carr. In other words, how does your role grow the business? “The business world is more competitive,” says Arnon. “Perhaps it’s even more aggressive. Freelancing is a way to be in the race without being in the race.”