EZ Reflections
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Embracing Independence

Embracing Independence

The Rise of Self-Employment

Furkhan Dandia
February 06, 2024

Embracing Independence: The Rise of Self-Employment

In last week's episode of the EZ Conversations podcast, I was thrilled to have an engaging conversation with the author of the Rising Order, Claire Isenthal (Listen Here). We discussed Claire's departure from Google and why she chose to focus on her family and become a full-time author. I invited Claire to the podcast to understand her story of leaving a large corporation like Google. It has become quite prominent over the past several years, especially after the pandemic, that more and more people are choosing between working for themselves. There were many conversations around "quiet quitting" after the pandemic, and in other cases, people such as Claire leave and pursue their passions. Aside from the freedom one experiences with being self-employed, I have often wondered why many people have started to become entrepreneurs. Connecting to your targeted market and customers globally with social media and technology is much easier. Working for oneself on a passion project is also much more meaningful than trying to meet deadlines set by others. And then there are the office politics one does not have to deal with.

However, I wanted to focus strictly on the meaningful aspect of working oneself because it does impact people's mental health. We cannot generalize that working in a corporation or for someone does not provide meaning because millions still do it. But often, employees are still at the mercy of company objectives, or financial priorities dictate what employees work on. It became a matter of wanting to work directly with individuals and serve. Most people I speak to want to give back to the world through unique skills, gifts and talents and find a way of monetizing that service to do it full-time. In an organizational setting, one's unique skills and talents often need to be noticed under structured corporate practices.

I just finished reading Rick Rubin's book, The Creative Act: A Way of Being, and I was extremely inspired. It also changed my perspective on being an artist; Rubin emphasizes that we are all artists and show up uniquely. We are all vessels and the creative act flows through us, and sometimes, putting ourselves in situations where we cannot be free dampens our creativity. If we work in environments where we cannot choose freely, then we cannot create fully. So, how can we share our art with the world, whatever that art maybe? Therefore, in this week's edition of EZ Reflections, I wanted to explore how we can find purpose in our work. How can we create opportunities for ourselves to tap into our skills and gifts and harness them to serve the world? This surge in self-employment is not merely a trend; it reflects a profound change in how people perceive and approach their careers. I will explore the value of people working for themselves and investigate various sources to understand this rising shift.

Autonomy and Flexibility:

One primary reason individuals opt for self-employment is the desire for autonomy and flexibility. The traditional 9-to-5 structure no longer aligns with the evolving needs and aspirations of the workforce. According to a study by Upwork and Freelancers Union, 59 million Americans freelanced in 2020, representing 36% of the total U.S. workforce [Upwork and Freelancers Union, "Freelance Forward: 2020", 2020]. This trend indicates a growing preference for the freedom to set one's schedule and choose projects that align with personal interests and skills.

Technological Advancements:

The digital age has played a pivotal role in the rise of self-employment. Technology has enabled seamless connectivity and communication, making it easier for individuals to work remotely and collaborate with clients or companies worldwide. Platforms like Fiverr, Upwork, and Freelancer have become hubs for freelancers and independent contractors to showcase their skills and connect with potential clients.

Economic Uncertainties:

The global economic landscape has become increasingly uncertain, with job stability no longer guaranteed. The COVID-19 pandemic highlighted the vulnerabilities of traditional employment models, prompting many to seek alternative sources of income. A survey by McKinsey & Company found that 20-30% of the workforce in advanced economies could be engaged in independent work by 2030 [McKinsey & Company, "Independent work: Choice, necessity, and the gig economy," 2016]. This reflects a growing inclination towards self-employment to create a more secure and diversified income stream.

Skill Monetization and Entrepreneurial Spirit:

The gig economy has created opportunities for individuals to monetize their unique skills and talents. From graphic design to content creation, people increasingly leverage their expertise to build their businesses. The rise of platforms like Etsy for artisans and creators further emphasizes the growing entrepreneurial spirit among individuals who wish to turn their passions into profitable ventures.

Conclusion:

The shift towards self-employment is a multifaceted phenomenon driven by various factors, including a desire for autonomy, technological advancements, economic uncertainties, and the pursuit of entrepreneurial opportunities. As more people recognize the value of working for themselves, it is evident that the traditional employment landscape is undergoing a transformative change. Embracing this trend allows individuals to take control of their careers, define their paths, and contribute to the dynamic and evolving nature of the modern workforce.

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Embracing Independence

The Rise of Self-Employment

Embracing Independence: The Rise of Self-Employment

A snippet of the Episode

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