Freelance or remote work has been a valuable addition to everyday business operations for many companies. According to the Freelance Economic Impact Report 2019 by Fiverr, the growing trend of demands (and offers) of gig economy shows no signs of slowing down.
Old-school and rigid organizations usually swear by time-clocking and in-house workforce only. On the other hand, the majority of lean, growth-oriented, and agile businesses have successfully tapped into the freelance nature of getting things done.
If you’re thinking about hiring a freelancer to speed up the processes under your watch, here is a handful of perks that come with it and that may help you decide.
Lower costs, higher savings
Full-time employment comes with a hefty price tag for the employer as it needs to cover taxes, health insurance, retirement savings, and other expenses deducted from employer’s gross profit. When working with a freelancer, however, you pay only for the work they perform, either on an hourly or project basis.
You may find that an independent contractor’s hourly rate seems higher than that of your regularly employed colleague. However, the burden of sustaining their freelance business is on their shoulders only.
For the same amount of work, hiring a freelancer could, therefore, save you up to 30% annually on salaries, which you could repurpose and invest in other areas that need a financial boost.
High value for money
Hiring a professional by project or even by task is notably different from employing a nine-to-fiver. Not only in terms of a paycheck but also in regards to the value for money.
Independent contractors usually take new projects as an important reference in their portfolio, and use clients’ feedbacks to build their online reputation. Since a freelancer’s business success mostly relies on clients’ satisfaction, they tend to approach each project or task very seriously and giving their best.
Even though the word “freelance” might imply a carefree and off-the-hook lifestyle, remote workers actually prove to be extremely reliable and responsible in providing their optimal work for clients.
No strings attached
Independent contractors are professionals that opted for a more flexible working environment. Still, they are able to deliver the same quality of work compared to full-time employees.
But a black sheep can be found in every flock, and chances - albeit slim - are that you onboard a less-than-perfect freelancer. They might deliver sub-par work, miss a deadline, or resort to inappropriate communication. How to deal with it?
The good news is that if you’re not satisfied with the contractor’s overall performance, you can terminate the agreement right away and replace them with a better alternative if you wish so.
More flexibility and fewer strings attached contribute to generally much lower risk for the employer. Contrary to cases of dispute with regular employees, hiring a new freelancer could be done with much less headache.
Out of sight, not out of mind
Digital connectivity is a critical factor that enabled the rise of the freelance workforce. You can hire highly skilled workers beyond your region or state, without the need to relocate them, which could save you a bunch on office or workspace rentals.
All you need is a digital means of communication or a task management tool. From e-mail and Slack, to Asana, Trello, and dedicated freelance chatrooms - keeping up with the work progress on the contractor’s side has become a matter of a few clicks.
Good freelancers are highly disciplined, responsible, and quite ambitious. They tend to execute the job to your standards without you having to monitor their every move, which leaves you with more time to focus on other stuff.
Remote workers can be located literally on the other side of the world, but their engagement and dedication would make you feel as if they work just a few desks down the hall.
Accessibility beyond borders
While the economic benefits of hiring a freelancer are undisputable, the most important thing for your project to work, however, is the access to the best possible candidates on the job market. Today, there are no limits to finding the absolutely right person for your gig.
Browsing through the listings, you can find freelancers from around the globe, with a variety of skills and all levels of experience, for all ranges of budgets, and with optimal flexibility of working hours.
Once chosen and confirmed, they are usually available to start working on your project within the same day, which makes their performance super effective and overall an excellent value for the price.
A new pair of hands within minutes
The global network of freelance work has been incepted and sustained by freelance platforms or marketplaces that gather all kinds of talents, skills, and levels of expertise. They match freelancers with thousands of daily clients looking for a new addition to the team, be it temporarily or long-term.
Some platforms like Upwork and Fiverr gather workers from all walks of freelance life. Others, such as Pov.io, are dedicated to niche freelance profiles, such as web or mobile app developers, graphic designers, Q&A professionals, etc.
Dedicated platforms usually come with a pre-vetted list of remote workers with specific professions. They also introduce a quality standard which makes it easier for the client to focus on the details of the job, rather than worrying about the level of its execution.
Onboarding a new co-worker through such platforms is highly optimized and does not take longer than a scheduled live interview. Once the cooperation is confirmed, the platform often provides a guarantee to deliver the agreed work and thus safeguards the success of the gig.
Is the future freelance?
With increasing demands for flexibility and effectiveness, agile and adaptable companies continue leveraging freelance contractors as a source of high-quality and price-optimized work.
At Povio Labs, we share their enthusiasm and recognition of freelance work benefits. We believe the future of work is remote and that the only criteria when hiring a new pair of hands will be the quality of the job done.
Aligned with growth trends for freelance work, there seems to be no obstacle to distributed teams worldwide becoming dominant and widely accepted. Is your company one of them?