With the growth of remote jobs throughout the world, an influx of freelancers and 1099 “employees” have emerged in the past few years. But why is there such a rise in their numbers and why do many businesses rely on them?
In this blog post, we discuss the benefits of being a 1099 “employee” and why this gig has been on the rise in recent years.
What is a 1099 “Employee”?
What Are the Benefits of Being a 1099 “Employee”?
A 1099 worker will experience a wide range of advantages in their professional and personal life. While the actual benefits depend on the kind of work you do, here are a few you could soon be enjoying:
1. Great Work-Life Balance
While regular employees spend the majority of their day inside the office and are left with little time to spend on other activities, a 1099 employee can enjoy a better work-life balance. Because freelancers control their schedules, they can plan their work around their day to ensure that they have enough time to do everything they want, including:
- Spending time with family
- Catching up with friends
- Working on hobbies
- Expanding on their skill set
- … and more!
Because they get to control their own time, freelancers learn the balancing act between their work and personal life. You’ll be able to reap the amazing physical and mental benefits that come with this arrangement while also increasing your overall productivity.
2. Flexible Work Conditions
Freelancers can enjoy flexible working conditions since they’re in control of where and when they work, which just doesn’t happen when you’re a full-time employee. Self-employed individuals can work as they please as long as they are able to deliver work as agreed upon in their contracts, so it doesn’t matter when, where, or how you choose to work.
Because of the freedom in their jobs, most independent contractors choose to work from their homes or coworking spaces. As such, they can go anywhere around the world without the constraints of having to work from an office.
Moreover, many freelancers don’t lose time because of getting stuck in traffic. Because they have the freedom to work when they want from where they want, they can get work done as long as they have a laptop and a reliable internet connection.
3. You’re the Boss
Because freelancers operate on their own or as small businesses, they are in charge of everything, including who they work for. This means they aren’t tied down to a single company, so they never have to put up with lowball offers or abusive employers.
The type of work offered to 1099 employees varies greatly. Some opportunities are only short-term, which means you can quickly get out of a commitment that’s not working for you. On the other hand, if you find a suitable job that you’ll be happy to do for a while, you can always renew your contract and keep working for the same company as long as you’re both happy.
4. Higher Income Potential
While working as a 1099 employee won’t come with job security or employee benefits, it makes up for these gaps with potentially higher income. Because there are no limits to how many clients you can work with or the hours you can work, you can control how much you make every month.
You can also combine your services with great business ideas so you can make more money while working. As you develop specialities in the field of your choosing, you can try out new industries or diversify your skills through online courses.
While there are certain privileges for in-house employees that freelancers can’t get, there are also many benefits that can only be experienced as a freelancer. If you’re thinking about quitting full-time work in favor of being a 1099 employee, the benefits listed above are just a few that you can look forward to.