Career Advice: Is Fractional Work The Post-redundancy Solution For You?

In this volatile economic climate, redundancy levels have soared

. Conventional wisdom dictates that benefit claims should also rise but recent figures show this isnt the case. According to the National Office of Statistics, the number of people claiming Unemployment Benefit fell by 27,000 in the last quarter, despite the fact that there were 6,000 fewer jobs available in the same period. How, then, are all these workers paying the bills?

According to experts at career planning website www.careerplan4.me, a large number of them are now relying on fractional work swapping traditional full-time roles for a number of part-time or freelance jobs. A laid-off graphic designer, for example, might become a self-employed web designer during the day and teach a hobby such as art or photography in the evenings.

At a time when permanent full-time positions are in short supply, fractional work offers another option for those who are struggling post-redundancy. There are a number of factors driving the trend today. Advances in technology mean working remotely is now easier than ever and employers are becoming increasingly open to people working from home.

There are, of course, disadvantages to fractional work. The most obvious one is that your income can fluctuate wildly from month to month. Another snag is how self-disciplined you have to be: workers used to a nine-to-five office environment may underestimate how hard it is to get on with work at home, when there are other distractions around. Many workers also find it stressful having to drum up business all by themselves. The fragmented nature of fractional work and the associated stress can be tricky to manage.

For the right people, however, there are many benefits to this way of working. It offers you independence and choice over how and when you work, something that may be especially attractive to people who have gone through a gruelling redundancy process. It is also a brilliant way of using latent skills and passions indeed, many workers are surprised how easily they can turn their hobbies into a career.

So, could fractional working work for you?

If youre facing redundancy, there are some questions you can ask yourself to help analyse if fractional working might be the answer for you.

Do you have skills that could earn you money independently? These dont necessarily have to be the skills you normally use in your job they could be a hobby or a passion.

Will you enjoy being your own boss? Some people find they miss the office banter or lack the motivation to work without colleagues around.

Can you cope with an unpredictable income? Its useful to have some savings to get you started while you wait for freelance payments to arrive.

If the answer to these questions is yes, then fractional working could turn out to be a viable solution for you. Many people find themselves being forced into fractional work to cope with the depressed job market, but you could well discover that once you get used to the different way of working you could end up enjoying it. You may even decide to call off your search for a traditional nine-to-five role, in favour of a fractional working future.

by: Kate Taylor

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