How Gen Z Is Shaping The Way We Work
Matthew Dowling
Founder @ Freelancer Club - educating, elevating and empowering the next generation of freelancers.
In recent years, freelancing has evolved from a niche career choice to a mainstream option – especially among Gen Z.
A recent study from Fiverr shows that in the US, over 70% of Gen Z are either already freelancing or planning to in the future. In the UK, various reports show this figure closer to 80%.
As things move forward, there is no doubt that the future of work will continue to evolve, with Gen Z at the forefront of reshaping the landscape.
The Appeal of Freelancing for Gen Z
1. Flexibility and Independence
Flexibility and autonomy aren't just perks for Gen Z — they're essential. Unlike previous generations, Gen Z is breaking free from the traditional 9-to-5 grind and embracing the freedom that freelancing offers.
70% of Gen Z freelance for flexibility, control over their career path, and ability to pursue passions.
The appeal is clear. Why be chained to a rigid schedule when you can decide when, where, and how much you work? Life’s too short.
2. Technological Savvy and AI skills
Gen Z, raised in the heart of the digital age, are naturally tech-savvy and adept at using technology. They’re also used to remote work, largely thanks to the pandemic experience and possess many soft skills companies look for when hiring for their hybridised workforce.
33% of Gen Zers said they have engaged in self-education for AI training, higher than any other generation, and 39% of them have already obtained a specific certification for AI training.
As AI becomes more embedded in daily life and work, mastering these skills, sets Gen Z apart from the competition.
3. Entrepreneurial Drive
With 16.9% of Gen Zers having already started their own business, they have become the most entrepreneurial generation of all time. They are not just looking for jobs, they are generating them.
Over a third identify as "portfolio careerists" managing a diverse array of freelance projects, and building skills that are highly valued on the job market.
Freelancing offers a low-barrier entry into the business world, where they can develop their brand, grow a client base, and potentially expand into full-fledged businesses. As the saying goes, “The secret to business is to stay in business” and freelancing is a great option to do just that. Low overheads, no need for capital and the ability to pick up real-world business skills from day one.
5. Financial Independence
With rising tuition fees and the cost of living, financial independence is a major goal for many Gen Z students. Traditional ways of earning an extra buck, such as a part-time job in a cafe or pub, require long hours at minimum wage - something that simply doesn’t generate enough for many freelancers struggling to make ends meet.
Freelancing offers an avenue to earn a significant income while still in school or between other commitments. It also develops skills that will benefit them further down the road.
Early financial independence gives them a headstart in managing debt, funding their education, and saving for future investments.
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The Challenges of Freelancing and How Gen Z Overcomes Them
While freelancing offers numerous benefits, it also comes with its own set of challenges, especially for younger professionals.
1. Uncertainty and Stability
Freelancing can be unpredictable, with fluctuating income and inconsistent work opportunities.
Gen Z freelancers often tackle this by diversifying their income streams, taking on multiple clients, and saving diligently during peak earning periods to buffer against lean times.
2. Learning to Manage Business Aspects
Freelancers must look after all aspects of their business, from marketing and client communication to financial management.
Gen Z, with their affinity for digital tools, often turn to apps and online resources for help. Platforms like Coconut for accounting, Trello for project management, and Canva for design make it easier to handle these tasks effectively. The influx of AI solutions further reduces the time freelancers spend on non-billable tasks. ChatGPT alone is revolutionising administrative work and allowing freelancers to dedicate more time to delivering their service and getting paid.
These skills also make them stand out to future employers, who value skills and drive in new graduates.
4. Balancing Work and Personal Life
With the freedom to work anytime, it can be challenging to draw boundaries between work and personal life.
Unlike older generations, Gen Z is renowned for setting clear work hours and practising self-care routines to maintain a healthy balance.
Gen Z is also combining work with leisure with many having the flexibility to deliver their services anywhere in the world. Digital nomads can hit deadlines and provide their clients with exceptional work all while exploring a new city or soaking up the Mediterranean sun.
The Future of Freelancing for Gen Z: What's Next?
Judging from the numbers above, it’s clear that Gen Z is shaping the future workforce and the gig economy.
They're not just adapting to the future of work — they're creating it.
Gen Z freelancers are also incredibly creative and innovative, unafraid to challenge norms and redefine how work is done.
Their digital fluency opens doors to new mediums like influencer marketing or AI engineering. With fresh thinking, they bring valuable creativity to freelance projects for businesses.
Perhaps most importantly, freelancing aligns with Gen Z's prioritisation of work-life balance and lifestyle flexibility. They crave the ability to integrate work and life on their own terms, travel while working remotely, and avoid rigid 9-to-5 schedules in favour of dynamic, personalised schedules.
As AI and remote work tech evolve, Gen Z is at the forefront, exploring and mastering these tools to dominate the freelance scene. Their knack for redefining work norms ensures they’re not just participants but leaders in this space.
By wholeheartedly embracing the gig economy, Gen Z is actively creating the future of work, not just adapting to it. Their unique strengths make them leaders paving the way for freelancing to become more vibrant, mainstream, and a sought-after career path.
As businesses increasingly value the immense talent of freelancers, Gen Z is perfectly poised to shine without the constraints of traditional jobs - all of this with a Mojito in hand.
Cheers!
Freelancer Club is preparing the next generation for the future of work. Find out more, here.