As
millennials dominates the workforce, more and more of them is turning to
freelancing. A lifestyle or work that suited them best, freelancing is evolving.
Bearing this in mind, PayPal, the leading payments solutions provider seeks to
enable an emerging community of digital savvy, on-the-go working Filipinos
through the expansion of its Freelancer Community Program in the Philippines.
On September
19, 2018, Paypal discussed about how PayPal helps the common people have a
better and secured payment system in the country. The event was held at the New
World City Makati where guest speakers talked about the Gig Economy and how it
is fast becoming an influential part of the Filipino workforce, anchored by a
rising millennial population, the development of digital platforms, and the
evolution of business models.
According
to the PayPal Global Freelancer Study, nine of 10 freelancers in the
Philippines are under 40 years old—giving the segment a strong millennial
slant.
“Millennials
will occupy the majority of the global workforce in three years. They are the
on-the-go generation, with highly differentiated preferences when it comes to
work. They like working from home and value autonomy. That’s why freelancing
comes so naturally to them,” said Nagesh Devata, General Manager for PayPal
Southeast Asia Cross-Border Trade, during the G-Economy Media Summit on Wednesday.
The
event sought to identify insights from the country’s growing freelancer
economy, which comprised 1.5 million Filipinos. It was highlighted by a
panel discussion, featuring industry movers Luarni Sim (MessyMaru), Shahab
Shabibi (MyKuya), and Nick Padilla (Kahon.ph).
The
“emergence of millennials” will introduce a new reality to the workforce,
described Nagesh, and he believes freelancing will be a big part of this
picture.
Rising
labor costs across many Southeast Asian nations are causing businesses to
re-evaluate their approach on talent management. This has led to a
transformation of traditional business models. For SMEs and new-found tech
startups, utilizing freelancers enables their businesses to be viable, flexible
and sustainable. With human capital being one of the highest costs for
companies, more businesses are looking to scale and expand without expensive
capital outlay.
The
rapid development of digital platforms and marketplaces has likewise helped
drive the growth of the gig economy. Nagesh described, “Buying and selling
services across the globe has never been easier, and this is enabling
organizations and freelancers to find each other in a matter of a few clicks.”
Empowering Filipino freelancers for the
future
According
to multiple pieces of research, one in five Filipino workers will be working as
a freelancer by 2020. The Global Freelancer Research by PayPal also indicates
that international clients typically account for over half of the freelancers’
businesses, and is looking to grow.
“Digital
platforms have made the gig economy a global ecosystem. In this context,
Filipinos need to be competitive at the international level,” suggested Nagesh.
“Proper mentorship and guidance is key in enabling this growing community.”
As
part of the PayPal Freelancer Community Program, the global digital payments
leader has tapped three new influencers, in addition to the four from last
year, who will help mentor aspiring freelancers through a series of workshops,
seminars, and webinars. Jason Dulay (Work From Home Roadmap), Anton Diaz (Our Awesome Planet) and Manuel Schuster (Digital Nomad) are the latest additions to PayPal’s roster of freelancer thought leaders.
The
company announced three workshops slated for the coming months: ‘Marrying work
with travel’ by Diaz (October 6); ‘What it takes to be a digital nomad’ by
Schuster (October 10); and ‘Selling freelance work in the international market’
by Dulay (November 10).
“The
Philippines is one of the world’s most dynamic markets for freelancers and
solopreneurs, and through the Freelancer Community Program, PayPal is giving
them the opportunity to upskill by hearing from established freelancers in the
community,” Nagesh added.
Filipino
freelancers can look forward to more PayPal workshops on topics like personal
branding, networking, finance and investment, taxation, as well as business
management.
To
know more about the PayPal Freelancer Community Program, visit PayPal’s Philippines Facebook page.
