A new Reportlinker study found that young professionals are flocking to jobs with better benefits and freelance work.
Working freelance and setting your own schedule is often touted as the ultimate job situation, but is it really all it's cracked up to be? According to a new Reportlinker report, many young American professionals find freelancing appealing because it offers them the ability to be their own boss, allows for a better balance of work and personal life, and a sense of freedom.
Among those surveyed, 65% believed that freelancers were happier than other professionals. Some 26% of respondents said they expected to be a freelancer at some point in their career.
The report found that only 40% of American millennials felt loyal to their current employer. According to the report, millennials found it difficult to find a well paying and desirable full time job.
A desirable job for millennials, according to the report, would include perks like telecommuting, parental leave, free food and beverages, and gym memberships. Because finding a job like this is difficult, young professionals are turning to freelancing, at least part-time, for additional money or personal fulfillment.
The report found that a desire for freedom and flexibility was common in professionals globally. Working less than 40 hours a week is seen as beneficial, especially among Western European respondents who reported that they would exchange money for more family and personal time and less stress.
Of Western Europeans, the report found that French respondents felt that fewer working hours offered many appealing benefits. On average, the report found that French respondents worked between 35 and 39 hours a week. Only 14% were reported to want to work between 40 and 44 hours. The report found this common theme in other Scandanavian countries as well.
However, Turkish respondents averaged 40-49 hours a week, and an additional 15% of Turkish respondents worked 50-59 hours. In Romania, 95% of employees worked 40-49 hours a week.
Despite this, American respondents work an average of 34 hours a week. This stat falls in the middle of global rankings, with Mexican respondents averaging the most (43) and Germans the least (26).
The big takeaways for tech leaders:
- Millennials are hunting for jobs that offer greater benefits that help balance work and personal life.
- More professionals are turning to freelance work for personal fulfillment, additional money, and freedom from a "boss."
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