In today’s unstable job market, UK workers increasingly view flexible or freelance work opportunities as a safer option compared to the conventional 9-5, according to a recent Fiverr study.
The global freelancer marketplace surveyed 500 UK white-collar workers laid off since December 2022 and discovered that 47% of respondents lost faith in salaried positions.
Younger Generations Embracing the Side Hustle Trend
The shift towards flexible and remote working has especially resonated with Gen Z, the emerging workforce.
Moreover, an increasing number of young people are managing side hustles alongside their primary income. By turning their hobbies and passions into secondary jobs, they aim to cope with the rising cost of living.
Redundant Employees Speculate on the Reasons for Their Dismissal
When Fiverr asked participants why they believed they had been made redundant, 30% said they thought their company had over-hired. This number increases to 39% for businesses with 10-49 employees and 36% for companies with over 500 employees.
Unsurprisingly, 41% said their company was struggling financially when their notice was given.
However, 30% believed it was related to personal performance, with this figure increasing to 41% for those in graduate and entry-level roles.
Laid-Off Employees View Their Situation as an Opportunity for Growth
Despite the challenges and difficulties resulting from being laid off, many respondents considered it a blessing in disguise.
Seventy-two percent of laid-off UK workers reported feeling relieved to have the chance to search for a new role, while 66% admitted they previously struggled to find meaning in their work.
Furthermore, 71% of respondents plan to seek a fresh start by transitioning to entirely different sectors, including 67% of those in the technology industry, which has been heavily impacted by redundancies.
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