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The hidden downsides of freelancing

Professionals are flocking to gig work, but they lose the benefits and perks that come with a full time job

The job market is a pretty active place these days. With unemployment low and many businesses opening up to new and unconventional ways of doing business, the world of work is abuzz with the idea that it’s a worker’s market. 

Skilled freelancing (that is, services like programming and marketing rather than Uber driving) is making up a growing part of that market. From 2019 to 2021, freelancers offering skilled services grew by 8 per cent.

Satisfied freelance workers do often cite the greater flexibility and control they have over their work, as evidenced by findings from Slack’s research consortium Future Forum, and younger workers have come to view freelancing, with its potential for diversified clients and income streams, as more stable than a full time job. Freelancers can also pivot their skills to profit from trends more easily than full time workers. “We have seen a lot of graphic designers on Fiverr start to offer NFT art services,” says Fiverr’s VP of Public Policy & Community Engagement Brent Messenger. “Many folks have doubled, tripled and even quadrupled their income.”

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