The number of self-employed workers has been on the up in the UK since 2001. They now account for around 15% of the working population. The figures dramatically increased after the 2008 recession forced a lot of larger companies to downsize their teams. Suddenly a ‘job for life’ wasn’t such a guarantee. But why is the number of those taking the leap in to self-employment still on the rise in 2020?
Addressing the work-life balance.
Life should never be all work and no play. The phrase ‘work-life balance’ still feels like a bit of a buzz word but an increasing number of studies show that it is something to address. With burnout in the workplace causing a rising number of serious physical and mental health issues, the WLB is not something to ignore.
Becoming self employed is not without its challenges. According to statistics, those who are self-employed tend to work more productively and gain greater gratification from their efforts. Flexible working hours allow you to tailor your day to best suit your body clock and life commitments; allowing you to be more productive during your working day.
I want to take control of my work.
For a long time, the ‘side hustle’ wasn’t seen as a viable option for making a living. Nowadays it’s celebrated. More people than ever are choosing to follow their passion in life and turning it into a career, even if it means facing more challenges than they would have done in employment.
Studies suggest that autonomy makes for more satisfied and productive workers. That’s what makes being your own boss so desirable. As well as being able to decide what projects you do and don’t take on, choosing your own hours in which to do those projects can make your working life much more gratifying.
The growing popularity of apprenticeship schemes and training programmes gives young people a better sense of ownership over their work. Entrepreneurship is encouraged from a young age. Social media is largely held accountable for the large rise in young people becoming part time self-employed. Whilst it isn’t a traditional career path, the new age of digital advertising and influencer culture is a huge market. It means an increasing number of young people are able to make money from the comfort of their own bedrooms.