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The Great Lockdown. How will the freelance market grow in a post-covid economy?

The Great Lockdown. How will the freelance market grow in a post-covid economy?

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The Great Lockdown. How will the freelance market grow in a post-covid economy?

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The freelance market looks to be involving into a tech focused market place. People who freelance and support the economy directly on their computers will see more job opportunities. The results from this may lead to more freelance gig economy platforms. 

 

So how is big tech fairing in the covid economy? 

 

Despite tech companies who need their customers traveling, such as Airbnb and Uber, the market is looking pretty good. Although Uber and Airbnb have lost considerable sales during the crises, it turns out the non-tech hotel and taxi competitors are exposed even more. So even if both of these companies in the short term do not fare well, their list of non-tech competitors will most likely not be around in the future. Giving these giants even more market share when the crisis subdues. 

 

We all know the new promising story of Zoom who has benefited greatly from the stay at home orders. Zoom makes it easier to work from home, and it’s company is now worth more than 4 airlines combined: United, Delta, American and JetBlue with a market cap above $44 billion. To add on more to their success, the company has a price-to-earning ratio of 1,865 (a good way to determine a company's value). By comparison to strong valued companies like Google and Facebook, they have a PTE ratio of 21 to 23 respectively. That is just insane!

 

Facebook is even reporting a big increase in video views, messaging and news consumption, as people around the world are connecting digitally during this great lockdown. Google has also seen a rise in their search service and Youtube viewership which supports their ad revenue. People around the world are using these services more intently than ever before. And don’t forget Amazon. Supplychain tech companies are seeing a surge in sales, as more people are ordering online at record pace. 

 

Which brings to the point. The tech industry is here to stay and should in fact grow with a post-covid economy. So freelancers beware! The tech sector is where you should be looking for gigs, especially in the short term. 

 

Tips on where to search for jobs

 

Understand different industries as a whole right now. For example, seeking out work for the travel industry is probably not a good idea, unless it’s a post-covid invention (VR travel anyone?). Next, examine what you do at home right now. What services or products are you using? This will allow you to identify what industries to target and apply too.   

 

What worked in the past, keep it up. Freelancers are primed for this new economy. Most likely you have been hired already as a remote worker in the past. You know how to navigate and schedule your work at home. You are in fact the prime example of work-life-integration that has now been forced upon everyone. Work-life-balance could be the thing of the past, as the world is now adjusting and things will not be the same until a vaccine is created. Therefore, take this as an advantage. The economy is now fit for you! 

 

The rise of freelance platforms
 

You may recall our past article What type of people are freelancers, where we talked about how businesses in fact save money by hiring freelancers over employees. During the Covid crises we should expect companies to do just that. Most likely they may look to freelance gigs over employment gigs in order to save on costs and target people with experience working from home.

Here at CryptoTask, we believe this will result in the need of freelance platform services. Companies will be going through such channels in order to find freelancers they need for hire. More freelancers being hired means more companies using such tools. Therefore it’s important we are ready with this timing in 2020. Already we have seen the first signs of growth, so we are excited about what the future will bring.  

 

Questions: 

What's your thoughts? Have you changed your focus to tech jobs? Or maybe you have noticed another industry supporting freelancers? We look forward to reading your comments!

 

Cheers, 

 

CryptoTask Team 





26 COMMENTS 132 VOTES

Most recent Most verbose

I agree 100% that freelancing will see yet another economic surge as the "new normal" sets in and unemployment starts to weigh heavier on the general population. Unfortunately, with this lockdown, yes my job prospects have become even more slim with an almost unavoidable transition into the tech sector to some regard. That's not really a problem for me, as I'm pretty much an indoor cat as it is, but just having the outside more 'face to face' jobs taken away without having them on the table as potential options is a little discouraging.

2 days ago

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4 days ago

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6 days ago

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1 week ago

1 week ago

To every season, there is a reason! The reason for this season is the shift or move in totality every odd or analog ways of livelihood into the 21st Century lifestyle! 

With the COVID-19 in Action, almost every Business is gone Digital including Restaurants & Bars! Make your Order & it's delivered to you in a jiffy; 

So Freelancer's are the 1st hitting the Cash in this Lockdown because Services are gone Fully Digital

1 week ago

Tebogo Lucas new user

Freelance jobs as well as new informal small business are being started.

i have seen a spark in new small companies starting in my community, most of the business that are started are in response to covid19 restrictions. We have new players coming out.

social media is booming with home made cloth masks which are even customized, home cooked meals being sold online with delivery only options as our government restricted walk ins, now everyone can take part in this as you no longer require a fancy building to operate such a business.

These Entreprenuers will need a strong online presence to help them succeed, thier cost are low as they will be cooking in thier homes while in lockdown with minimum costs as they won't be paying rental for the business.

The demand for Web developers, designers and marketers will certainly raise any everyone is finding a way to feed their families 

1 week ago

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2 weeks ago

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2 weeks ago

Great idea, will be advantageous for someone who has always wanted to get a tech skill, to get it now.

2 weeks ago

Picxy Joe expert

Recently, the demand for online services has increased due to the global pandemic and lockdown. The restriction of movement globally has increased the use of online meetings, shopping, etc. What we are witnessing is a paradigm shift of the less use of physical services to online services, which will give rise to innovative solutions and freelancer developers, social media marketers, analyst, web programmers, instructors and the likes to be on a high demand. So, it will be advantageous for someone who has always wanted to get a tech skill, to get it now.

2 weeks ago

De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

Personally I haven't switched to tech jobs but I believe the freelance economy is going to grow with COVID-19 showing no signs of subsiding soon. Within the last 3 months, reports of an exponential surge in app downloads of all categories abound. This is an indication of the work of the growing numbers of software engineers, data scientists, website creators/designers, web developers, app developers, etc. most of whom are freelancers. 

In the world of social media, influencers (who are freelancers in their own right) have been more important than ever. With companies having to switch from traditional marketing to digital marketing owing to COVID-19, most of hthem have resorted to using influencers to promote whatever product they have. As at the time of writing, influencer marketing is now part of the billion-dollar industries. It's also important to note that influencers cut across a lot of tech-related personalities including, gamers, blockchain developers, app developers and bloggers.

So yep, the social media industry does support freelancers a lot - especially in times like this.

2 weeks ago

Even before COVID-19 hit the world, the gig economy was blossoming within adland, but now, the freelance world could have an even bigger surge due to the pandemic.

In recent weeks, holding companies, independent agencies of all sizes and brands have all gone through layoffs, furloughs and other cost-cutting measures.

Campaign US asked industry experts how they think the gig economy and freelance work will evolve in the aftermath of coronavirus.

2 weeks ago

All the above is Galois but it hasn't helped freelancing significantly because most companies have their employees working from home. Those who might engage the Services of freelancers are unable to afford due to the lockdown in various regions.

2 weeks ago

Carmel MORINEO new user

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2 weeks ago

Arina Levadnaya new user

I work in tech company end nowtime stay at home and work remotely.

Services and people I was looking for:

1. To fill my declaration for the 2019 and send it to the goverment site.

2. Our family extremely needed with family doctor. We can`t find this person in our region.

3. Somebody to fix laptop and other technic.

4. Independed couriers with own cars are needed.

5. Somebody to fix house problems with water, gas, electricity.

6. Online repetitors and online animators for the kids.

7. Online sport trainers.

8. Online advocats.

2 weeks ago

Sam BTC guru

Just a common Crypto enthusiast.. Wait crypto is not common it's special :)

I think the current pandemic has changed the work culture of most of the tech companies significantly.

Traditionally most big tech companies preferred their employees working from their own offices or travelling to client locations. Now that is not possible and they are forced to use the work-from-home model and are slowly adapting to it.

Most companies and even employees preferred full time contracts as it simplified contract management and work continuity for them. This is also now getting obsolete as there is no concept of full time in the age of remote working. Companies are now warming up to the benefits of employing freelancers remotely.

I will the work culture will soon improve for the better. Currently things are very restricted, when you dont find right skills you need to have someone travel then the whole issue of visa, work permit etc comes up, which gets worse after considering the political and labor law implications.

The current situation is set to create a global freelance workforce which will simplify things for employers and employees.

2 weeks ago

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2 weeks ago

Karen M guru

Many things are and will continue to change because of this pandemic. Anything/work that can be done remotely will definitely increase more than it has already. I am considering starting a thrifting business from home, so I guess that may count as 'tech" since it will be online selling. Of course, I have to wait until lockdown is over and my area reopens. I'm reading up on it now to get ideas for my best approach.

2 weeks ago

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2 weeks ago