Historically, job security has been one of the main attractions of a traditional full-time job.
But research (click on the chart below to enlarge) from the long-running MBO Partners State of Independence study shows a growing share of independent workers believe independent work is more secure than a traditional job.
The study has also found that the share of traditional jobholders saying independent work is less risky than a traditional job is also growing, increasing from 18% in 2018 to 33% in 2022.
Put another way, 7 in 10 independents and 1 in 3 traditional employees say independent work is more secure than traditional employment.
And the rash of layoffs in tech is reinforcing this view.
Two recent articles on this topic caught our eye.
Vox's Tech Workers are Increasingly Taking Contract Jobs covers the recent tech industry layoffs. Key quote:
"Part of what's leading more people to independent work is that regular employment doesn't look so hot right now in certain industries ... All of a sudden, contract work isn't looking so bad."
The article also points out something we often hear in our interviews - because most independent workers have multiple sources of income, they feel more secure than if they were relying on a single employer:
"It's almost like diversifying your stock portfolio," she said. "Instead of working for one company, I'm going to work for several because if one of them doesn't have work, the other ones do."
The Information's Tales from the Shredder: How a Quarter-Million Fired Tech Workers Are Picking Up the Pieces focuses more on the human impact of getting laid off.
Our favorite quote is from a laid-off tech worker that illustrates the lack of security of traditional jobs:
"They paid us well; they gave us good severance," he said. "But the experience made me feel like I was just a tool. If they need you, they hire you. If they don't need you, they discard you."
The choice between a traditional job and freelancing generally comes down to an evaluation of the pros and cons of each.
And anything that makes traditional jobs less attractive - like a lot of publicity about layoffs - makes freelancing more attractive, and means more workers making a choice will choose freelancing.
Emergent Research (that's us) works with MBO Partners on the State of Independence study series.
