The rise of the expert-working-as-freelancer has undoubtedly changed the way businesses operate in today’s working world. Gone are the days of hourly employees and contractual workers, as companies from all industries are starting to outsource their projects to qualified freelancers. If you’re wondering what all the buzz is about, read on for some of the more important ways freelancers can improve your business practices for the better.
1. Hiring Freelancers Allows Your Company Flexibility
Taking on a part-time or a full-time employee means that your company will be required to pay your new hires for a certain number of hours a week. With this traditional take on hiring, you may cost your company more than you can afford to pay. Small businesses will especially suffer from hiring a staff of part-time or full-time employees as it cuts into their business’ profitability and productivity.
Ultimately, freelancers offer businesses quality work without forcing companies into a contractual commitment. Whether your business needs to complete a small-scale project or a large one, the right freelancer will be able to take these on without putting your company in a risky position or taking your attention away from more pressing matters. With a talented freelancer, you will be able to delegate your needs to a freelancer while using a would-be employee’s salary to invest in other things.
2. Use Freelancers for Their Expertise
Say your company does have the money to hire a full-time employee. However, one employee may not be capable of accomplishing projects the way a seasoned expert can. Generally, a new hire may be an expert in their own right, but when your company stands to benefit from the focused efforts of an expert, freelancing is the way to go. With freelancers and independent contractors, you can hire a professional for these projects. For example, a company that is looking to update their website can either ask a web designer to join their staff or employ a highly skilled freelancer to tackle their digital needs, as well as any other areas like inventory management for daily operations, developing content for SEO and any other areas that require expert knowledge.
3. Freelancers Give Business Owners More Freedom
Without the need to constantly hire, train, and maintain a certain number of employees, business owners will find that they are saving a time and money. Moreover, using employees puts companies in the unfavourable position of relying on the whims and reliability of their employees. Moreover, if one of the employees decides to leave, a business owner will be left in a situation that can and will affect the operation of your business.
On the freelancing side of things, companies will be able to shift from one highly qualified worker to the next, if one worker is no longer capable of completing a project. This makes it much easier for businesses to part ways without putting the company at risk for larger issues. With freelancers, the opportunities are limitless.
4. Enjoy Less Overhead with Fewer Employees
By using freelancers in your business, you will eliminate most of the inefficiencies and costs that stifle your company’s growth and profitability. When analysing your company’s overhead, you will quickly find that making the switch from employee to freelancer will truly benefit your bottom line. Since freelancers work largely from remote locations through the Internet, businesses typically don’t need any extra space to accommodate these workers.
Additionally, most freelancers are hired specifically for their impressive qualifications and expertise. That means, companies can save the time and money that may have been used to get new employees trained. Similarly, with freelancers, companies typically will never have to handle pricier aspects of running a business like providing insurance, taking care of retirement benefits, and handling paid time off.
5. New Hires Take Less Time
Working with freelancers is always a very expedited process. Whenever you need to add a new worker to the team, it usually takes a few hours or days to get them started on your new project. Contrarily, hiring a new employee can take a few weeks or months before any real work is accomplished. Since the hiring timeframe is not a factor in the freelance world, many companies are experiencing a significant increase in productivity. After a short interview, freelancers can start completing work immediately. In the event that your company is ready to hire for part-time and full-time workers, a freelance hiring specialist can make the hiring process easier and help to find the best match for your needs.
6. Businesses can put a Freelancer on Hold at any Time
Budgets fluctuate and that certainly affects businesses’ ability to retain employees. While a successful company may readily hire a consistent stream of workers, in the event that the worst happens, you will need to decide which employees to terminate. When opting for freelance workers, you may have a freelancer work on a single project or several assignments depending on what you need. As this is a case-by-case basis, you won’t need to go through the standard termination process if your budget changes. When your company is ready to spend more money on a new hire, you can simply find another freelancer.
Businesses hoping to experience growth and long-term sustained success will find that hiring more freelancers is a great way to accomplish their goals. Understanding the many ways a company will benefit from the freelancing revolution is an important step towards greater output, sustained growth, and a higher return on income.