What awaits the freelance market in 2024: details and forecasts

What awaits the freelance market in 2024: details and forecasts

Since the full-scale invasion began, the freelancing market has undergone many changes. More than 250 thousand Ukrainians switched to freelancing because it is a convenient format for remote cooperation. For many, this was the only opportunity to earn money. We talked with the founder of Freelancehunt to find out what changes to expect in the near future.

The most anticipated changes in key areas

1. Transformation and scaling of the freelance market

The market for orders and projects in Ukraine fell by 90-95% in the first days, but also quickly began to recover. Already in April 2022, the number of Ukrainian freelancers exceeded the figures for 2021. And the number of orders from customers from Ukraine at the beginning of autumn 2022 increased by 30% compared to last year. Entrepreneurs have learned to live in such turbulent times and quickly adapt to changes, so now we only see rapid recovery and growth of the market.

It is predicted that in 2024-2025 the freelance industry will completely transform and scale. We are already seeing that national projects, game development and other large tasks are delegated to freelancers. Consequently, we can predict the active involvement of freelancers in the implementation of projects of large and medium-sized businesses.

2. Increased demand for designers

During the full-scale invasion, there was an increase in demand for designers, namely:

Among Ukrainian customers, designers were in great demand due to the need to create and adapt products that would be relevant during the war. Foreign entrepreneurs preferred and prefer Ukrainian performers, because they have very good taste and quality of work.

3. Video content and social networks as trending business advertising channels

At the beginning of the war, we observed a drop in demand for SEO specialists, while SMM, on the contrary, was gaining momentum. This is logical, because quickly creating a website for a new business or adapting an old one to new realities is time-consuming and expensive. Social networks saved businesses because they made it possible to quickly and relatively cheaply create a platform for selling goods and services.

Video has become one of the most influential tools on social networks. According to Statista, in 2022, 82% of internet users watched videos online, and by 2023, this figure rose to 85%. On average, people spend 100 minutes a day watching videos.

Video content is becoming increasingly popular because it is more engaging and effective than other content formats. Video allows viewers to better understand and remember information, and also evokes stronger emotions in them than text.

Here are some of the top video content trends for 2024-2025:

  • The rise in popularity of short videos. Short videos like TikTok and Reels are becoming increasingly popular. These videos are easier to create and consume, making them an ideal format for mobile devices.
  • Artificial Intelligence Video. They are used to create educational materials, advertising and entertainment content.
  • Live video. Live broadcasts are becoming more and more popular. This format allows users to interact with content creators in real time.

Video content is becoming an increasingly important tool for business and marketing. Companies use video to promote their products and services and to build relationships with their customers.

Future freelancers – who are they?

Future freelancers can be divided into two general categories:

  • Experienced specialists aged 25-40 years, who have been working for 2-5 years, have higher education, a large portfolio and sufficient qualifications to perform complex tasks.
  • The Buzzer generation are people who grew up in the digital era. They respond more easily and quickly to changes. For example, while the older generation is still wondering whether it is necessary to use AI, buzzers are becoming pros and using it to the maximum for their work. Also, according to the study, more than 50% of representatives of this generation want to work remotely and consider freelancing as their main tool.

In the first year of the war in the freelance market, we saw several significant peaks in freelancer registrations. For example, according to Freelancehunt, with the beginning of the war, 250,000 Ukrainians switched to freelancing. In addition, many Ukrainians have left the country but continue to work as freelancers. This should also be taken into account.

We observe that newcomers are people who learn quickly, master new technologies and become experienced specialists in highly specialized issues. That is why in the foreseeable future it will be possible to see how it is quite easy to find a specialist with extensive experience and cool skills in the freelance market.

HR in the world of freelancing: what you need to know

A new area of ​​hunting is gaining demand – HR specialists are looking for the necessary specialists among freelancers.

If you are a blogger or entrepreneur, you need a team to create scripts for TikTok or Reels, content plans, process photos and videos, come up with a marketing strategy and implement it. It is difficult, even impossible, to do everything alone, because each request requires a specialized specialist.

HR comes to the rescue, looking for these freelance specialists. That is, an entrepreneur does not need to waste time searching for certain people; it is enough to have a good HR.

The problem is that classic HR specialists see not opportunities, but a minefield. Finding a freelancer is a dark forest for them. These are not full-time employees who work full-time, and therefore this is somewhat beyond the understanding of classical HR. However, knowing how to find freelancers and collaborate with them is an opportunity to stand out among other HR specialists.

If you learn to collaborate with remote specialists, you can not only have a large base of specialists, but also continue to sell one candidate to several businesses and help entrepreneurs collaborate with freelancers.

Companies looking to remain competitive in 2024 and beyond are modernizing their talent acquisition strategies. Instead of thinking narrowly that the only way to get more work done is to hire more full-time workers, savvy companies look at employees from all angles.

From this broader perspective, they see that the best way to stay competitive is to hire more freelancers. But this is not revolutionary news. According to an Upwork survey, the majority of companies (62%) already hire freelancers. And this practice will only grow in the coming years. Learning to attract freelancers to work for your company is the most important skill for the HR professional of the future. Such a specialist can assemble a team that will better achieve the main goal of the company.

How Ukrainian entrepreneurs, startupers and bloggers are changing the freelance market

According to Freelancehunt, 91% of entrepreneurs say that a freelancer helps them grow their business. Many business people only discovered the benefits of working with freelancers at the beginning of Covid-19 during the mass shift to remote work. But more than half of entrepreneurs have been solving their queries with the help of such providers for a long time – more than 4 years.

Also, from recent studies it has become known what part of the team entrepreneurs are willing to recruit from remote specialists. The data can be found in the infographic below.

If we compare the demand for freelance services among customers in the same periods of spring-summer 2021 and 2023, then the rapid growth of the indicator – it increased by 75%. In 2024, this figure will only grow, because those who have not felt the benefits of working with freelancers now will definitely do so in the coming years.

Hiring speed is an entrepreneur’s best friend

For bloggers, startupers, and entrepreneurs, one of the key success factors is the speed of hiring specialists. For example, you need an additional resource in the form of another developer for 1-2 weeks, who would complete a certain number of tasks. Looking for a full-time specialist is too time-consuming and expensive. In freelancing, you will find such a specialist within 24 hours, or a few days at most.

Compared to classic full-time hiring, in 2024 freelancing becomes a more trendy and logical solution, even from an economic point of view. Especially if you compare the theoretical costs in money and productivity. Having a more flexible format of cooperation with specialists in different fields will help minimize any risks.

How artificial intelligence has influenced the development of the freelance market

According to Coursera, courses in machine learning and artificial intelligence have become the most popular among programmers and computer science students. And for good reason, because being able to work with the most popular AI means being on time, saving your time and even increasing your paycheck.

Gartner claims that by 2025, 70% of programmers’ routine tasks could be automated using AI. Already, programmers are using neural networks to carry out routines:

  • test automation,
  • code generation,
  • user interface development,
  • integration of data, development tools and version control

Deloitte showed that more than 40% of developers already use built-in AI tools in their work. In addition, SoftServe research suggests that developers who use AI work 30-40% more efficiently.

SEO specialists also actively use ChatGPT as an auxiliary tool, for example, for generating texts or a semantic core.

It’s hard not to mention ChatGPT and similar AIs, which have had a huge impact on marketing. Generate a post? Video script? Think of a name? Easily! One request to Shi – and you have the desired result.

How to make a marketer’s job easier with Chat GPT

In a new material on Freelancehunt, we’ll look at how a marketer can use Chat GPT in their work, what are its advantages, and whether AI will replace humans.

Successful models of taxation of freelance labor in Europe and the world

Successful global experience in implementing taxation models will only contribute to the development of the freelance market and make it more professional. The star example is Estonia, where everything is very simple:

  • open a special bank account,
  • You receive income from the sale of goods or services to individuals or legal entities.

One of the key advantages of the system is whether you are a programmer, a taxi driver or a photographer. Everyone gets equal conditions.

That’s it, nothing else is needed, not even:

  • register as an entrepreneur,
  • keep records of income, expenses,
  • hire an accountant.

The bank itself automatically withdraws 20% of income, which is up to 25,000 euros per year, and 40% of everything above. That is, the bank itself acts as a service that distributes amounts for social insurance, income tax, etc.

“We predict an increase in the use of artificial intelligence and automation in the management and execution of freelance projects, which will make it possible to more effectively connect customers and performers and optimize work processes. This, in turn, will open up new opportunities for freelancers in the field of software development and data analytics,” emphasizes Oleg Topchiy, founder of Freelancehunt.

Source of material: Dev.ua.

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