The ways we earn income in the United States have evolved rapidly in the past 50 years, and even more so as computers have become ubiquitous. More than ever, employers are embracing work arrangements that provide greater flexibility and autonomy, which can be an opportunity for you to create a work situation that fits well with your lifestyle. You just need to understand and be open to the pros and cons of each situation, and then find what works best for you.
Let’s take a look at understanding a few non-traditional types of work arrangements, and some considerations as you undertake the search for your own ideal.
Temporary Work
Temporary work is an arrangement in which you fill a position for a short period of time, typically under a contract. This could be particularly appealing if you prefer variety or want to work during certain times of the year. It can also be an ideal way to learn more about a career or industry and get your foot in the door. Companies may not want to immediately dedicate full time head count to a role, and will instead work with an agency or advertise for a temporary position to get the work done. Often these roles have an end date, and individuals who shine in a temporary role may learn enough to then find a full time role within the organization. These roles can provide flexibility, help you learn about an organization and provide you a chance to gain diverse experiences.
Gig Work
The gig economy is a relatively newer term which describes work that individuals can do on their own on an on-demand basis. This type of work is very self-directed, and opportunities for ‘gigs’ or projects are typically abundant. Companies like Uber, DoorDash and TaskRabbit allow individuals to work as independent contractors, where they can pick up jobs in a timeframe that meets their availability. This model is especially appealing to people who want to work on their terms, either part-time or full-time. Gig work can provide a means to having a more independent career or providing extra income, and there are many roles in service-related work like pet sitting, food delivery and personal virtual assistants.
Freelancing/Consulting
Freelancers typically have specific skills they can offer companies on a per project or contract basis. It’s a great way to choose the kinds of organizations you want to work with, and the type of work you want to engage in. Freelancing can provide flexibility and more control over your schedule. You might find work in a variety of industries with roles in writing, web development, project management, graphic design or marketing, which allow you the freedom to work on various projects at an hourly rate you determine.
Similar to freelancing, consulting allows individuals with specialized expertise to work as a consultant in a field. Consultants typically work on short-term engagements where they analyze a situation, provide expert advice, and leave their client with actionable next steps for the client to then undertake. This type of work arrangement allows you to work on a variety of problems and challenges– ideally those you find most appealing and interesting–giving you more diversity and autonomy than a traditional full-time role.
Things to think about as you consider different work types:
- When you’re weighing leaving full time work and striking out on a different path, start by being honest with yourself about your priorities. For instance, if paid time off is key for you, that may not be available in a temporary, gig or freelance setting, so ask the hard questions and be honest with yourself.
- Investigate if the work situation you’re considering would provide you a steady paycheck, benefits and paid time off. Often gig and freelance work doesn’t offer these perks, but the trade off can be the flexibility you gain. Employment through a temporary agency can provide more structure in aspects like paychecks, tax filing, training and perhaps even healthcare.
- Speaking of taxes, most freelance and gig work requires you to pay estimated taxes, since you won’t have an employer withholding Social Security, Medicare and income taxes. It’s important to understand the tax implications of each scenario.
- In many freelance and consulting roles, you will likely need to get comfortable marketing yourself and actively finding roles. It may take time to build a reliable network that provides steady work, but this is going to lead to more opportunities.
- Gig work can serve you up opportunities to take on projects, but these platforms typically take a portion of the fees for administrative costs.
- Time management will be an important factor when you’re working in a non-traditional way. It can be easy to get burned out when juggling multiple freelance clients, side gigs, and projects. Finding the balance and staying organized is important.