Millennials seeking balance with self-employment

Posted 11th May 2018 in For Businesses For Workers

Younger people are increasingly seeking a better work-life balance by opting to work for themselves as opposed to working for a company, research suggests.

A study by from financial services firm MetLife found that 57 per cent of workers are now interested in taking on a contractual role, up from 51 per cent in 2017.

Importantly, 74 per cent of the people interesting in freelancing were in the Millennial age bracket, compared to 57 per cent and 43 per cent for Generation X and Baby Boomers respectively.

And a quarter of those polled revealed they hope to leave their current jobs within the next five years to participate in freelance work.

The biggest reason given was a desire to participate more in family life, rather than missing things like children’s plays through being stuck in an office.

Although the survey was carried out in the US, the results can be extrapolated to suggest that many Brits may also be becoming dissatisfied with their working life and eager to start being their own boss.

“I would say the concept and prevalence of freelance work is much more apparent to people. I think people are asking themselves different questions about ‘how do I want to work?’. They’re really looking for flexibility,” MetLife’s Todd Katz told USA Today.

Since Millennials will soon be making up the bulk of the world’s workforce, it could mean we see a boom in the number of self-employed people in the coming years.

Indeed, a recent survey by FreeAgent found that eight per cent of Brits have ambitions to become their own boss by the end of 2019, which could mean some are already looking into making the move.

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