In a period marked by fluctuating job stability, a comprehensive survey conducted in the UK reveals a pronounced trend among individuals aged 16-26 towards embracing freelancing, self-employment, or engaging in side ventures, moving away from the conventional paradigm of full-time employment.
A meticulous study carried out in late January 2024, which analysed responses from 3,016 participants within this demographic, found that nearly seventy percent are either considering or have already commenced their journey in non-traditional employment routes. Among those entertaining the prospect of freelancing or self-employment, a significant majority are preparing to make the transition within the coming year, with an impressive segment planning to do so in the ensuing two months. This inclination is not limited to the unemployed; many respondents are currently in full or part-time positions, indicating a substantial shift towards more flexible employment models. Additionally, with one-fourth of the respondents being students, there is a clear preference for entering the workforce with a freelance or self-employed status, moving away from traditional career paths.
The research, spearheaded by Fiverr, illuminates the driving factors behind Generation Z’s pursuit of independent career paths, which include desires for skill enhancement and greater autonomy in their professional decisions. Central to their motivations is an effort to reclaim control within a job market characterised by uncertainty and rapid change. The allure of freelancing and self-employment is further heightened by perceptions of reduced risk of layoffs or obsolescence by artificial intelligence, the stability offered by such careers, and a sense of declining loyalty from UK corporations towards their workforce.
This study accentuates Generation Z’s deliberate move to assert dominion over their professional lives, especially against the backdrop of company layoffs, the quest for flexibility, and the integration of AI in workplaces. An increasing majority of those contemplating a freelance or self-employed career path have reported a heightened interest in such avenues compared to the previous year. While the pursuit of flexible work schedules and autonomy remains paramount, concerns regarding living costs and job security have also surfaced as significant motivators in 2024.
“In the face of unparalleled obstacles, including a global pandemic and swift technological evolution, Gen Z professionals are increasingly drawn to freelancing and self-employment as avenues for achieving the stability necessary to fulflill their career ambitions. These routes not only provide autonomy but also enable individuals to steer their professional journeys on their terms.”
Gali Arnon, Chief Business Officer at Fiverr
The data further delves into Generation Z’s perspective on remote work, highlighting a preference for flexible hours over remote working policies. It also reveals a divided stance on the importance of a university degree, with many considering apprenticeships and other alternative educational paths as equally legitimate.
The paramount goals for Generation Z are financial security and comfort, with a significant number prioritising financial stability and aspiring towards early retirement. Ambitions of entrepreneurship are prevalent, alongside a desire for work flexibility and opportunities to travel for professional purposes.
These findings signal a significant transformation in career preferences among Generation Z, indicative of their resilience and proactive adaptation to the shifting dynamics of the job market.
