Millennials as freelancers and the importance of SPL ecosystem

Freelancing used to be considered a form of job relationship. Today though, millennials address freelancing as a whole new way of everyday living and doing so, with great enthusiasm. But why is this mentality turn of such importance for both young employees and entrepreneurship? The following lines elaborate on the reasons leading millennials to value the independence that comes with freelancing but more importantly, on the reasons underlying this shift of priorities and lifestyle. On of top that, seeking to address the complexities of such a transition, the text will conclude on the importance of investing in the development and the launch of SPL’s supporting environment catering the newly arisen needs and requirements.

Amongst the others application areas of SocialPolis Coin Project, through the development of a web-based platform within SPL Coin ecosystem, freelancers will be able to match their skills with the available job openings and vacancies. SPL Coin acting as the coin of payments to freelancers easing transactions, annihilating exchange rates fluctuations and locking profits down for freelance workers. Based on the success of the above concept through the circulation of SPL Coin, both national and international volunteer work will benefit as well. Although laws with regards to volunteering are strict, volunteers’ population is expected to increase generally.

For years the prerequisite for economic growth was entrepreneurship, allowing the increase of job vacancies for young employees and forming a standard business model. Nowadays, entrepreneurship is shifting into ‘individual-preneurship’, as a large number of millennials- today’s 20- and 30-years-old individuals- decide to enter the labor market offering their skills and expertise to a variety of employers instead of providing their services exclusively to one agent. Between 2014 and 2018, 3.7 million more people in the United States started working as freelancers marking the mainstreaming of freelancing (Study: Freelancing in America 2018).

As the technological surge and improvements in communications between freelancers and their contracted clients have significantly facilitated work conditions, millennials seem to shift when it comes to their professional careers. The two parties’ communication streamlines with better face-to-face communication, distant conferences and distant co-work activities as speed allows for more rapid deployment of products or services.

Looking freelancing from employers’ side, the ‘exploitation’ of highly-skilled freelancers’ capabilities, especially in growing scientific fields, suggests above all, a financial choice compared to a full-time employee of the same skills. Working alone may be peculiar to a large numbers of workers. And given how co-working spaces are rapidly growing around the globe, people seem to shares spaces, time, resources and ideas more willingly than ever before.

Until recently, working as a freelancer was almost a synonym to financial insecurity and professional instability due to the bargaining involved and the irregularity of the workload. Regardless, freelancing is rising, especially in the US, partially due to the activation of the new law in New York City (2017), titled ‘Freelancing is not Free’, focusing on safeguarding the requirements for contract agreements between freelancers and their clients, and that freelance professionals were actually getting paid for the work they did. Another issue that SPL’s platform for professionals seeks to address by ensuring not only the transactions of payments but also the proposed skills of freelancers.

Until now, freelancing still might be considered a solitary activity. However, a growing percentage of millennial freelancers decide to incorporate themselves to this new business scheme in order to be benefited from tax reductions triggering further expansion of this job mode. Moreover, 42% of freelancers agree that freelancing gives them the flexibility they need as modern reality seems to traditional employee schemes and scheduling.

All the above suggest adequate reasons to swift over freelancing. However, it’s the quality of life that seems to be the major differentiation factor for this action. Both non-freelancer and freelancers rank lifestyle above earnings while full-time freelancers are 21 percentage points more likely to argue that their work allows them to live the lifestyle they want (84% of freelancers say this versus 63% of non-freelancers).

The above elements may seem too technical for some but one of the fundamental reasons that millennials decide to freelance derives from the fact that they are the generation born and raised in the era of high-speed internet, technological innovation and social media expansion. PWC’s report ‘Millennials at work reshaping the workplace’ found that more than 50 percent of millennials agreed to take a pay cut to find a job that aligns with their values. More than 70% percent of millennials cite developing a career in a non-for-profit organization, and setting the pace for a more sustainable world by turning businesses into tools of social change instead of focusing solely on their career and financial goals.

As stated above, millennials seems to be visioning to change the world around us though their attitude and choices. At the same time, SPL Coin as a social cryptocurrency is moving towards this direction by investing in developing the necessary means. At the end of the day, millennials may actually be the generation laying the foundation for a sustainable and inclusive world through decentralized technology and SPL aims not just to accommodate but to actively lead this transition.

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