77% of Laid Off Workers in the U.S. Want to Switch Industries
April 12 2023 - 8:00AM
Business Wire
57% said they plan to freelance or start their
own business while looking for a new job.
Fiverr International Ltd. (NYSE: FVRR), the company that is
revolutionizing how the world works together, has released new
research revealing how workers who were impacted by recent layoffs
are managing their finances and what they are prioritizing in their
future careers. Fiverr conducted a nationwide study in partnership
with Censuswide, surveying 501 U.S. office/white-collar workers who
had been laid off in the last 3 months.
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Fiverr has released new research
revealing how workers who were impacted by recent layoffs are
managing their finances and what they are prioritizing in their
future careers. (Photo: Business Wire)
In addition to expressing interest in changing careers in their
next role, the research showed that many recently laid-off workers
plan to pursue freelance work. 1 in 3 (33%) respondents said they
plan to freelance while looking for a new job and more than a third
(34%) plan to keep up a side hustle once they return to full-time
work. Fiverr’s internal data reveals a similar trend. In the wake
of layoffs in the tech sector, sign-ups for freelancers providing
programming & tech services were notably higher in January 2023
compared to the same time the previous year. Increases were seen
across major tech hubs, including the Silicon Valley (264%), Los
Angeles (97%), Denver (43%), Seattle (33%) and New York (127%).
“The economic downturn, particularly in the tech sector, and the
associated wave of layoffs has initiated a talent migration.
Skilled workers are now reconsidering their career priorities and
exploring alternative work opportunities,” said Micha Kaufman, CEO
of Fiverr. “As we have observed in the evolving community on
Fiverr, freelancing has proven to be an appealing option for
workers affected by layoffs, who are interested in exercising more
control over their careers, offering a more flexible and fulfilling
option for full-time or part-time work.”
Several key themes from the survey include:
Laid-off employees are looking for more fulfilling, flexible
work in their next job.
- Over 75% of all respondents reported feeling unfulfilled in
their previous role and 74% agreed that their role lacked work-life
balance.
- Close to 80% said they plan to explore a new industry (77%) and
practice new skills (79%) in their next role.
For laid-off workers, severance packages are often not enough
to cover expenses.
- 34% of respondents plan to tap into savings or
investments.
- 31% said they would move back in with their families, and 32%
said they would move to a less expensive area.
- 34% plan to ask family and friends for financial support.
After being laid off, workers are considering becoming their
own boss.
- 1 in 3 respondents said they plan to freelance to increase
their earnings while looking for a new job.
- More than 1 in 3 (34%) workers surveyed said they want to keep
up a side-hustle when they find a full-time role.
- Among those who said they did not want to return to a full-time
role, 32% said they don’t trust full-time employment anymore, and
more than half (56%) said they appreciate the flexibility of not
having a 9-5 job.
This survey was conducted in partnership with Censuswide among a
sample of 501 white-collar or office workers in the U.S. who
reported being laid off in the last 3 months. The data was
collected between 03.08.2023 and 03.20.2023 Censuswide abides by
and employs members of the Market Research Society and follows the
MRS code of conduct which is based on the ESOMAR principles.
About Fiverr
Fiverr’s mission is to revolutionize how the world works
together. We exist to democratize access to talent and to provide
talent with access to opportunities so anyone can grow their
business, brand, or dreams. From small businesses to Fortune 500,
over 4 million customers worldwide worked with freelance talent on
Fiverr in the past year, ensuring their workforces remain flexible,
adaptive, and agile. With Fiverr’s Talent Cloud, companies can
easily scale their teams from a talent pool of skilled
professionals from over 160 countries across more than 600
categories, ranging from programming to 3D design, digital
marketing to content creation, and video animation to
architecture.
Don’t get left behind - come be a part of the future of work by
visiting fiverr.com, read our blog, and follow us on Twitter,
Instagram, and Facebook.
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Molly Nolan press@fiverr.com
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