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Freelancers to play bigger part in financial companies in the next 5 years

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Image | Damir Kopezhanov via Unsplash

A growing supply of freelancers are taking the attention of companies in the financial sector that many are considering about tapping on them in the coming 5 years.

In a study conducted by the PricewaterhouseCoopers (PwC) labelled “Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services,” it surveyed more than 500 financial services enterprises worldwide. The majority of responders—or 60 percent—were made up of C-suite personalities.

While the research suggests that traditional employments still dominate the workforce in the field, there is a growing interest in incorporating freelancers, such that around 15 to 20 percent of their overall manpower will comprise of them.

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As per PwC, the reason behind the anticipated transition boils down to “continuous cost pressure and the need to access digitally skilled talent.”

It will not be a smooth shift, however, as issues such as concerns over confidentiality, insufficient knowledge, risk involving regulation, and aversion to risk being identified as potential problems when considering taking advantage of said resource.

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