Business
How to transition from freelance to full-time employee (or vice versa)
Transitioning from full-time employment to freelancing—or vice versa—can be daunting, whether you’re returning to a full-time position after years as a contractor or looking to be your own boss and have more control over your hours and which projects you accept.
Feats compiled a list of five ways full-time employees can transition to freelancing and another five ways freelancers can prepare to enter full-time work.
Making the shift to full-time freelancing comes with a price, much of which has to do with benefits, predictable income, and job stability. Still, you may find the flexible lifestyle and freedom to select what—and who—your work involves are well worth the cost of admission.
Returning to full-time work after working as a freelancer has its own challenges. Doing so means relearning how to navigate office culture, stick to other people’s schedules, operate within a structured team, and schedule around more limited time off.
Keep reading for tips on making the transition regardless of where you are in your five-year plan.
Jacob Lund // Shutterstock
Transitioning to freelance: Start before you quit your full-time gig
Transitioning from full-time employment to freelancing can feel like working without a net. It’s wise to start a transition to freelance early—ideally before you quit your day job. You might start out by picking up some small side gigs. This way, you can get a feel for the workload while still receiving a regular paycheck and benefits. Take the time to compile a portfolio of work, build your reputation, and find your target clients.
Changing specialties or finding your niche market may avoid noncompete clauses and establish a future framework for the kind of services and clients you want. Existing clients and contacts can be great sources for referrals and opportunities, but don’t burn any bridges. You never know when you might want to return to full-time work or seek assistance or recommendations from former colleagues.
Pheelings media // Shutterstock
Calculate your freelance rate
Setting a rate for freelance services can be complicated. When calculating the costs, you’ll need to earn enough to cover health benefits, retirement planning, marketing, and other business expenses such as accounting and paying taxes.
Companies have whole departments dedicated to payroll, human resources, and branding, but as a freelancer, these are now your responsibilities. Being disciplined with your time and dedicating work hours to address these new tasks all factor into overhead costs—and don’t forget to pay yourself.
PeopleImages.comYuri A // Shutterstock
Join industry groups and network as a freelancer
Networking is essential for freelancers.
As an employee, your workload and the accounts and clients that come with it are often assigned to you. But as a freelancer, you’re the business developer and decision-maker. Join industry groups and attend networking events to connect with experienced professionals who may not only be a lead to work, but can also provide invaluable advice and experience within the field. Some of these organizations require paid memberships, but access to conferences, newsletters, and information from successful freelancers is invaluable.
People often hire from within these organizations, so establishing relationships with industry influencers can yield profitable rewards. Networking is about playing the long game: You never know when it will pay off.
djile // Shutterstock
Get an accountant experienced with freelancers
Finding a tax professional is another important step in transitioning from full-time employment to being your own boss. Paying taxes as a freelancer is very different from working for a company and receiving a W2 form once a year. New freelancers may not be familiar with 1099 forms or paying taxes quarterly, or where to find tax breaks and write-offs to save the most when operating as a contractor. Depending on your work, you can often deduct qualifying home expenses and other supplies. Taxes can be difficult for anyone, so finding a good accountant is something to put on the list and factor into overhead costs.
Oleksii Didok // Shutterstock
Create documentation and processes for freelance work
Before putting a 9-to-5 job behind you, research documentation and workflow processes. You’ll want to make sure your home office keeps up with professional industry standards and is ready to go, so identify software packages or free online services that can manage communication, project organization, and invoicing.
Time management, organization, scheduling, and email notifications are important for you and your clients. And depending on the type of work you’re taking on, you may want to ensure your computer and home devices are secured and protected at the right level.
Jacob Lund // Shutterstock
Transitioning to full-time employment: Tap clients for leads
Returning to a job may seem like no big deal at first—after all, you have been there and done that—but the transition comes with its own challenges.
Alerting clients about your upcoming change is more than a professional courtesy. Your clients could become your new employers, so be clear about the kind of work you want. If your existing clients know that you are interested in making the change, they are more likely to think of you when a job opportunity appears.
Lucky Business // Shutterstock
Network within the companies you want to join
Here is where the connections you made while networking can really pay off. You have established relationships with other freelancers and are also a vetted member of a professional organization. With today’s unpredictable and dynamic job market, belonging to these groups positions you as a strong candidate before you have sent off the first resume.
Networking within the company or companies you would like to join has multiple benefits—remember, you are interviewing them just as they are interviewing you. Get to know hiring managers, and let them get to know you. Find the people and the teams where you could thrive, so jumping back into the full-time work pool doesn’t have to be a cold shock for you or your new colleagues.
Jacob Lund // Shutterstock
Communicate your potential value as a full-time employee
Companies are looking for employees who add value to their company, and a freelancer looking for full-time work has a lot to offer. The time spent marketing your skills, generating clientele, and improving your portfolio can enhance your value, especially if you can translate these qualities into quantitative statistics. Be prepared to demonstrate your success with the hard data companies want, even if it’s your interpersonal skills that drive your value to your clients and future employers.
Jacob Lund // Shutterstock
Come into a company with goals for growth
While they may not top the list of reasons to transition to a regular job, health insurance, retirement benefits, and growth opportunities may be exactly what the freelancer wants. However, bosses often want to hear more about your goals for growth.
Recall the ever-popular interview question, “Where do you see yourself in five years?” The best answer is not “securely employed with a steady paycheck and health insurance.” Whether you have a five-year plan or not, be prepared to describe future goals and how you can fulfill your ambitions by working at a specific company. Think about two or three ways you want to grow professionally, such as learning a new software program or getting a certification for skills like Google analytics or project management. Think also about a few ways you can apply your strengths to help the company or your department grow, such as identifying existing pain points and offering to develop a plan to improve a process or business development strategy.
G-Stock Studio // Shutterstock
Adjust expectations for productivity and full-time working hours
Measuring productivity is one of the biggest adjustments the freelancer makes when transitioning to full-time employment. Linear work patterns yield the most financial success for freelancers, but productivity has different metrics beyond churning out as much work as possible in the least amount of time.
Activities that would have been frivolous are now integral to working collaboratively with team members. Meetings, answering emails, and looping in other people all influence a company’s productivity metrics, and making this shift can be unexpectedly difficult.
This story originally appeared on Feats and was produced and
distributed in partnership with Stacker Studio.
In today’s digital climate, consuming sports has never been easier. Thanks to a plethora of streaming sites, alternative broadcasts, and advancements to home entertainment systems, the average fan has myriad options to watch and learn about their favorite teams at the touch of a button—all without ever having to leave the couch.
As a result, more and more sports venues have committed to improving and modernizing their facilities and fan experiences to compete with at-home audiences. Consider using mobile ticketing and parking passes, self-service kiosks for entry and ordering food, enhanced video boards, and jumbotrons that supply data analytics and high-definition replays. These innovations and upgrades are meant to draw more revenue and attract various sponsored partners. They also deliver unique and convenient in-person experiences that rival and outmatch traditional ways of enjoying games.
In Los Angeles, the Rams and Chargers’ SoFi Stadium has become the gold standard for football venues. It’s an architectural wonder with closer views, enhanced hospitality, and a translucent roof that cools the stadium’s internal temperature.
The Texas Rangers’ ballpark, Globe Life Field, added field-level suites and lounges that resemble the look and feel of a sports bar. Meanwhile, the Los Angeles Clippers are building a new arena (in addition to retail space, team offices, and an outdoor public plaza) that will seat 18,000 people and feature a fan section called The Wall, which will regulate attire and rooting interest.
It’s no longer acceptable to operate with old-school facilities and technology. Just look at Commanders Field (formerly FedExField), home of the Washington Commanders, which has faced criticism for its faulty barriers, leaking ceilings, poor food options, and long lines. Understandably, the team has been attempting to find a new location to build a state-of-the-art stadium and keep up with the demand for high-end amenities.
As more organizations audit their stadiums and arenas and keep up with technological innovations, Uniqode compiled a list of the latest tech advancements to coax—and keep—fans inside venues.
Jeff Gritchen/MediaNews Group/Orange County Register // Getty Images
Just Walk Out technology
After successfully installing its first cashierless grocery store in 2020, Amazon has continued to put its tracking technology into practice.
In 2023, the Seahawks incorporated Just Walk Out technology at various merchandise stores throughout Lumen Field, allowing fans to purchase items with a swipe and scan of their palms.
The radio-frequency identification system, which involves overhead cameras and computer vision, is a substitute for cashiers and eliminates long lines.
RFID is now found in a handful of stadiums and arenas nationwide. These stores have already curbed checkout wait times, eliminated theft, and freed up workers to assist shoppers, according to Jon Jenkins, vice president of Just Walk Out tech.
Billie Weiss/Boston Red Sox // Getty Images
Self-serve kiosks
In the same vein as Amazon’s self-scanning technology, self-serve kiosks have become a more integrated part of professional stadiums and arenas over the last few years. Some of these function as top-tier vending machines with canned beers and nonalcoholic drinks, shuffling lines quicker with virtual bartenders capable of spinning cocktails and mixed drinks.
The kiosks extend past beverages, as many college and professional venues have started using them to scan printed and digital tickets for more efficient entrance. It’s an effort to cut down lines and limit the more tedious aspects of in-person attendance, and it’s led various competing kiosk brands to provide their specific conveniences.
Kyle Rivas // Getty Images
Mobile ordering
Is there anything worse than navigating the concourse for food and alcohol and subsequently missing a go-ahead home run, clutch double play, or diving catch?
Within the last few years, more stadiums have eliminated those worries thanks to contactless mobile ordering. Fans can select food and drink items online on their phones to be delivered right to their seats. Nearly half of consumers said mobile app ordering would influence them to make more restaurant purchases, according to a 2020 study at PYMNTS. Another study showed a 22% increase in order size.
Many venues, including Yankee Stadium, have taken notice and now offer personalized deliveries in certain sections and established mobile order pick-up zones throughout the ballpark.
Darrian Traynor // Getty Images
QR codes at seats
Need to remember a player’s name? Want to look up an opponent’s statistics at halftime? The team at Digital Seat Media has you covered.
Thus far, the company has added seat tags to more than 50 venues—including two NFL stadiums—with QR codes to promote more engagement with the product on the field. After scanning the code, fans can access augmented reality features, look up rosters and scores, participate in sponsorship integrations, and answer fan polls on the mobile platform.
Boris Streubel/Getty Images for DFL // Getty Images
Real-time data analytics and generative AI
As more venues look to reinvigorate the in-stadium experience, some have started using generative artificial intelligence and real-time data analytics. Though not used widely yet, generative AI tools can create new content—text, imagery, or music—in conjunction with the game, providing updates, instant replays, and location-based dining suggestions
Last year, the Masters golf tournament even began including AI score projections in its mobile app. Real-time data is streamlining various stadium pitfalls, allowing operation managers to monitor staffing issues at busy food spots, adjust parking flows, and alert custodians to dirty or damaged bathrooms. The data also helps with security measures. Open up an app at a venue like the Honda Center in Anaheim, California, and report safety issues or belligerent fans to help better target disruptions and preserve an enjoyable experience.
Story editing by Nicole Caldwell. Copy editing by Paris Close. Photo selection by Lacy Kerrick.
This story originally appeared on Uniqode and was produced and
distributed in partnership with Stacker Studio.
Inflation has cooled substantially, but Americans are still feeling the strain of sky-high prices. Consumers have to spend more on the same products, from the grocery store to the gas pump, than ever before.
Increased import costs are part of the problem. The U.S. is the largest goods importer in the world, bringing in $3.2 trillion in 2022. Import costs rose dramatically in 2021 and 2022 due to shipping constraints, world events, and other supply chain interruptions and cost pressures. At the June 2022 peak, import costs for all commodities were up 18.6% compared to January 2020.
While import costs have since fallen most months—helping to lower inflation—they remain nearly 12% above what they were in 2020. And beginning in 2024, import costs began to rise again, with January seeing the highest one-month increase since March 2022.
Machinery Partner used Bureau of Labor Statistics data to identify the soaring import costs that have translated to higher costs for Americans. Imports in a few industries have had an outsized impact, helping drive some of the overall spikes. Crop production, primary metal manufacturing, petroleum and coal product manufacturing, and oil and gas extraction were the worst offenders, with costs for each industry remaining at least 20% above 2020.
Machinery Partner
Imports related to crops, oil, and metals are keeping costs up
At the mid-2022 peak, import costs related to oil, gas, petroleum, and coal products had the highest increases, doubling their pre-pandemic costs. Oil prices went up globally as leaders anticipated supply disruptions from the conflict in Ukraine. The U.S. and other allied countries put limits on Russian revenues from oil sales through a price cap of oil, gas, and coal from the country, which was enacted in 2022.
This activity around the world’s second-largest oil producer pushed prices up throughout the market and intensified fluctuations in crude oil prices. Previously, the U.S. had imported hundreds of thousands of oil barrels from Russia per day, making the country a leading source of U.S. oil. In turn, the ban affected costs in the U.S. beyond what occurred in the global economy.
Americans felt this at the pump—with gasoline prices surging 60% for consumers year-over-year in June 2022 and remaining elevated to this day—but also throughout the economy, as the entire supply chain has dealt with higher gas, oil, and coal prices.
Some of the pressure from petroleum and oil has shifted to new industries: crop production and primary metal manufacturing. In each of these sectors, import costs in January were up about 40% from 2020.
Primary metal manufacturing experienced record import price growth in 2021, which continued into early 2022. The subsequent monthly and yearly drops have not been substantial enough to bring costs down to pre-COVID levels. Bureau of Labor Statistics reporting shows that increasing alumina and aluminum production prices had the most significant influence on primary metal import prices. Aluminum is widely used in consumer products, from cars and parts to canned beverages, which in turn inflated rapidly.
Aluminum was in short supply in early 2022 after high energy costs—i.e., gas—led to production cuts in Europe, driving aluminum prices to a 13-year high. The U.S. also imposes tariffs on aluminum imports, which were implemented in 2018 to cut down on overcapacity and promote U.S. aluminum production. Suppliers, including Canada, Mexico, and European Union countries, have exemptions, but the tax still adds cost to imports.
U.S. agricultural imports have expanded in recent decades, with most products coming from Canada, Mexico, the EU, and South America. Common agricultural imports include fruits and vegetables—especially those that are tropical or out-of-season—as well as nuts, coffee, spices, and beverages. Turmoil with Russia was again a large contributor to cost increases in agricultural trade, alongside extreme weather events and disruptions in the supply chain. Americans felt these price hikes directly at the grocery store.
The U.S. imports significantly more than it exports, and added costs to those imports are felt far beyond its ports. If import prices continue to rise, overall inflation would likely follow, pushing already high prices even further for American consumers.
Story editing by Shannon Luders-Manuel. Copy editing by Kristen Wegrzyn.
This story originally appeared on Machinery Partner and was produced and
distributed in partnership with Stacker Studio.
Nearly every state requires drivers to carry car insurance, but the laws vary, and many factors affect the cost of coverage.
Some are controllable, at least to degrees: the type of car you have and your credit history. Some are not: your age and gender. Your marital status, place of residence, and claims history are among the other variables that go into it.
Across the United States, premiums are soaring, rising 20% year over year and increasing six times faster than consumer prices overall as of December 2023, CBS reported. Last September, CNN noted that car insurance rates jumped more in the previous year than they had since 1976.
CBS pointed to many potential reasons for these increases in prices. Coronavirus pandemic-era issues have made buying, fixing, and replacing vehicles costlier. Extreme weather events caused by climate change also damage more vehicles, while insurance companies are increasing their business costs. Severe and more frequent crashes are to blame as well, CNN reported.
On top of these, local factors such as population density, the number of uninsured drivers, and the frequency of insurance claims all affect premiums, which can lead motorists to change or switch their coverage, use other modes of transportation, or even alter decisions about when to buy a vehicle or what to look for.
To see how geography affects cost, Cheap Insurance mapped the states where people pay the most in car insurance premiums using MarketWatch data. Premium estimates were based on full-coverage car insurance for a 35-year-old driver with good credit and a clean driving record. Data accurate as of February 2024.
Cheap Insurance
Americans pay $167 per month on average for full-coverage insurance
There are common denominators among the five states where it’s most expensive to have car insurance: Michigan, Florida, Louisiana, Nevada, and Kentucky. Washington D.C. is another pricey locale, ranking #4 overall.
Three of these six are no-fault jurisdictions and require additional coverage beyond coverage to pay for medical costs. Michigan notably calls for $250,000 in personal injury protection (though people with Medicaid and Medicare may qualify for lower limits), $1 million in personal property insurance for damage done by your car in Michigan, and residual bodily injury and property damage liability that starts at $250,000 for a person harmed in an accident.
Other commonalities between these states include high urban population densities. At least 9 in 10 people in Nevada, Florida, and Washington D.C. live in cities and urban areas, which leads to more crashes and thefts and high rates of uninsured drivers and lawsuits. Additionally, Louisiana, Florida, and Kentucky rank #5, #8, and #10, respectively, in motor vehicle crash deaths per 100 million vehicle miles traveled in 2021 based on Department of Transportation data analyzed by the Insurance Institute for Highway Safety.
Canva
#5. Kentucky
– Monthly full-coverage insurance: $210
– Monthly liability insurance: $57
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#4. Nevada
– Monthly full-coverage insurance: $232
– Monthly liability insurance: $107
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#3. Louisiana
– Monthly full-coverage insurance: $253
– Monthly liability insurance: $77
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#2. Florida
– Monthly full-coverage insurance: $270
– Monthly liability insurance: $115
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#1. Michigan
– Monthly full-coverage insurance: $304
– Monthly liability insurance: $113
Story editing by Carren Jao. Copy editing by Paris Close. Photo selection by Lacy Kerrick.
This story originally appeared on Cheap Insurance and was produced and
distributed in partnership with Stacker Studio.
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