The digital age ushered in the so-called share economy and thus created a new labor market. Over time, we realized that services could be used, provided and paid for as needed. What began with mobility services such as car sharing and co-housing centers has now been extended to other business areas. After all, up-and-coming professionals have realized that it is advantageous for them to be able to decide when, where and for how much money they can offer their services. In addition, the number of freelancers in the United States and Europe has grown steadily. How are the pros and cons of freelance work actually weighed up? How do you know whether a freelance activity is an option for you?
Teamwork vs. independence
People who are used to working in an office or with colleagues benefit from the exchange of ideas and everyday business life. The thought of having to work all day alone could mean a lonely, even boring existence for them. Freelancers, however, are compensated in this self-centered way of working because it gives them more independence: they alone are responsible for big decisions on schedules, availabilities, content, solutions and much more. That is, if they accept a contract, they can execute it according to their allocation of time, capacity, and desire. This often makes them work more effectively and deliver faster.
Security vs. flexibility
A full-time job not only ensures a monthly salary but also creates a certain feel-good atmosphere. Knowing exactly how much money is in your account at the end of the month is a luxury that not every freelancer can enjoy. A freelancer must systematically allocate his budgets and savings so that he can bridge months of low income. But not being tied to a company and to a fixed desk also means the freedom to work when, where and as much as you want. A completely new industry is currently creating co-working office space around the world and completely redefining the concept of work-life balance. For example, freelancers can rent a Co-Working Space in Bali, Barcelona or Berlin for a month and enjoy a different culture, get input from like-minded people and often also win new customers.
Impulses vs. self-discipline
In the office environment, lack of motivation, inspiration or energy can be compensated for by committed colleagues taking on a role that can advance the team. If you’re a freelancer, you’ll need to make some demands to get the job done. And sometimes a large cup of coffee is simply not enough. The good news is that you can often do your work just as well from your own bed!
Fewer benefits vs. higher incomes
A full-time job promises numerous advantages: training programmes, training support, health insurance, paid holidays, sick leave, holiday pay and even sabbaticals. Freelancers have to pay all this out of the expense fund. And these expenditures can quickly add up. Since companies do not incur the same labor costs for freelancers as for permanent employees, they can pay more for the services of a freelancer. A successful freelancer with a large customer base can easily compensate for these additional costs with his income from work.
Loyalty to the company vs. new challenges
Many employers are concerned that freelancers lack the loyalty with which permanent employees thank the company. Yes, it is true that freelancers do not wear the company logo, come to the company party or even write the name of the company in their CVs. However, freelancers have the chance to face new challenges every day. Freelancers can familiarize themselves with new topics, business areas, problems and solutions for each client. The broad knowledge acquired in this way enables them to continually improve and gain deeper insights. This means that they can offer their customers even more in terms of experience, performance level, and expertise.