In today's rapidly evolving job market, the traditional 9-5 job is no longer the sole career path as the concept of freelancers and contractors has taken over.
Freelancers and contractors have emerged as key players in what is commonly referred to as the gig economy. This growing trend offers flexibility and independence but also comes with its unique set of challenges. Freelancers and contractors are essentially self-employed individuals who offer their skills and services on a project-by-project basis. This has made it easier for companies to reduce expenses by having services according to requirements. Not only is it beneficial for companies, but it also provides a better work lifestyle for those who prefer flexibility.
However, the other side of this new concept states that freelancers and contractors may experience inconsistent income streams, making financial planning more challenging. The lack of facilities such as health insurance, bonuses, etc still puts a concerning question mark in front of this modern concept.
How beneficial freelancing work is according to you?