The gig economy is continuously on the rise. According to Upwork, 57.3 million people freelance in the United States, and it is estimated that there will be 86.5 million freelancers by 2027. The pandemic has accelerated the growth of the gig economy. First, it has caused more employees to work from home, allowing them to take on freelance jobs. In addition, some full-time employees were put on indefinite leave or retrenched, pushing them to take on as many short-term employment opportunities to earn a living. Also, people who aim for work-life balance opted to join the gig economy. People who are fed up with the 9-5 work and want to gain more flexibility shifted to freelance work rather than a full-time job.
The gig economy has not only helped individuals, but it also benefited organizations as well. While some traditionalists are hesitant in hiring freelancers, there are plenty of advantages to hiring them. Here are some of the ways on how freelance experts can help your business.
You get to benefit from their expertise.
Freelance workers are usually experts in their chosen field, and that is why they opt to leverage this to earn money. Freelancers regularly update themselves with the latest trends and technologies to stay marketable. The expertise of freelancers can help businesses get things done so you can focus on more pressing things that are critical to the company. You can be sure that those freelance workers know what they should do, as long as directions and expectations are discussed and agreed upon from the start.
You can save money.
By availing of freelance services, you lessen operating expenses and overhead costs. Since you will not be hiring a full-time worker, this means you save on recruitment and hiring expenses, training costs, health insurance, and other benefits. You can even save on office facilities since most freelancers work from home.
You meet your deadlines.
Freelancers are used to working on tight schedules. They take pride in it since it will make their portfolio look better. Since clients will give feedback on the freelancers’ websites or social media accounts, freelance workers submit their work on time or earlier to build a good reputation. Most freelancers make sure to work with clients’ requests and deadlines to convert them to regular customers and have repeat business.
You get fresh and innovative ideas.
Freelancers have worked with different companies and industries. Since they have dealt with diverse clients, they have seen and tried out various practices. They have witnessed different and unique ways of running a business and have gained insights into dealing with challenges. You are most likely to receive “out of the box” ideas since they have not adapted to the company culture or usual ways of working in your business.
You can have worldwide reach.
Another benefit of hiring a freelance worker is that it offers you a worldwide reach and widens your talent pool. You are not limited to applicants who live near you. Also, you don’t need to fly them into the country just to avail of their service and expertise. Freelancers can remotely work while you get world-class talents and skills.
You can avoid risks.
Organizations can be erratic- one minute you are stable, and it can suddenly become unsteady. With freelancers, you avoid the risk of lay-off should you need to downsize the company. Hiring freelancers prevents you from the agony of terminating full-time employees because you can no longer afford them.
You get more flexibility.
Freelance workers are not limited to the usual work hours of a typical full-time employee. It means that businesses can avail themselves of the assistance they urgently need. You don’t need to wait for your full-time employee to report back to work for them to address the concern. Freelancers can go out of their way to solve a crisis and meet the client’s needs, whatever the time difference or how far they are located.
Key takeaway
The gig economy is growing because you get many benefits from hiring freelance workers. Organizations should be more open-minded and try to take advantage of the services of freelance experts. It can be surprising that hiring freelancers might be the best decision made by management as they can be reliable partners in turning your business into a big and stable one.
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