The study conducted by Fiverr involving 3,016 UK-based individuals within this age group, conducted towards the end of January 2024, revealed that among those considering a career in freelancing or self-employment, 59% plan to pursue this within the next year, including 18% who intend to make the move within the following two months. With 60% of respondents currently in either full or part-time employment, there's an indication of a potential significant shift away from conventional employment. Additionally, 25% are students, hinting at a preference for entering the workforce as self-employed or freelancers, thus entirely bypassing traditional career paths.

The survey highlighted that 'Generation Z' has various reasons for leaning towards self-directed careers, ranging from the acquisition of new skills to the aspiration of being their own boss. However, the findings also point to their desire to regain control in a job market that is both unpredictable and rapidly changing. Key motives for moving away from full-time employment include:

• Nearly a third (29%) see a 'less chance of being laid off or replaced by AI'
• Around 1 in 5 (18%) view self-employed and freelance careers as more stable than full-time positions
• 17% perceive a lack of loyalty from UK companies towards their employees

Generation Z is determined to reclaim control over their career paths. This ongoing study, now in its second year, underlines how layoffs, the need for flexibility, and the advent of AI are significantly influencing Generation Z's work preferences and their perceptions of career stability. According to the study, 74% of those considering freelance or self-employment are giving it more thought than they did the previous year. The reasons for considering freelance or self-employed careers in 2023 remain pertinent in 2024, with flexible working hours, the appeal of being one's own boss, and the opportunity to increase income being the primary motivators.

However, this year, the inclination towards these career paths is more profoundly motivated by the current state of the full-time job market, with major concerns including:

• Nearly a third (31%) express anxiety over the cost of living
• Over 1 in 10 (12%) have either been laid off or fear the possibility of being laid off

“The youngest members of today’s workforce, Gen-Zers, have faced nothing but hurdles – a global pandemic and unprecedented development in technology. Now, in the face of layoffs and the implementation of AI across the corporate world, Gen Z workers are relying on themselves for the stability that they need to pursue their career ambitions by choosing freelancing and self-employment,” said Gali Arnon, Fiverr’s Chief Business Officer. “Not only does freelancing and self-employment offer a stable path to be their own boss or to own their own business, but it also allows for Gen Z to have total autonomy over their own lives.”

Several other themes from the data include:

• Remote work less important to Generation Z than last year
• Only 22% of 16-26 year olds surveyed say a remote working policy would influence their job decisions
• This figure is decreasing, last year 24% felt this way - also a low percentage
• Flexible hours are more important, with 39% saying this will influence their job decisions and 1 in 4 also saying flexible working structures are a factor in choosing to be self employed or freelance

Generation Z are divided on the role of university degree

• Only 35% believe a university degree is required for a successful and fulfilling career
• A further 36% believe that a successful and fulfilling career is achievable without a degree or with other formal qualifications (other than a degree) e.g. an apprenticeship 

Comfort and financial security remain the top priority for Gen-Zers.

• 45% of Generation Z respondents desire to be financially comfortable as part of their larger career ambition; 18% want to retire early.
• Around a quarter (24%) want to own their own business while 12% want to freelance for their entire careers.
• Nearly 29% of respondents want to travel for work and work from wherever they want.