Companies in 2016 are embracing freelancing as a mainstream substance to delegate duties to free themselves for tasks that are more important. It is simple, cost-effective and features opportunity to meet several top-notch freelancers who may significantly contribute to your brand’s growth. For expert freelancers, it is a channel to feature their creativity and make extra income in a flexible manner.
Results from an independent study in 2015 indicate that over 60 million Americans compete in the freelancing arena making it one of the best-selling jobs. Estimates from Intuit hint, by 2020 over 40 percent of the jobs will be freelanced.
Many corporations have started exploring the prospects of freelancing taking cues from many smaller businesses that delegate tasks to freelancers. Piecing projects and employing freelancers at a fraction of the expenses can do wonders in lowering the costs. It exempts the companies from the payroll taxes and any liabilities that might have otherwise been mandatory in case of a full-time employee.
Of course, such a strategy isn’t without the obvious drawbacks. Freelancing is a gamble, and only experience can help you decide the right choice.
Greater The Quantity, Greater The Risk
When you are sifting through a vast talent pool, the pricing can be flexible. The Internet has made it easier to work with freelancers globally, and costs vary depending on the region and the skill possessed by each freelancer. Marketers may be tempted when they are charged lesser than their expectation. However, lower price means substantially risking the work quality, because a skilled worker will quote a hefty price for his or her contribution.
If you tend to hire many freelancers at a fraction of the pay, you could end up dealing with staggering under-par results. Hence, the rule of thumb is to remember that quality talent isn’t found in a flea market.
More time and money is wasted making the wrong decision, rather than not acting at all.
It is superfluous to expect extreme commitments from freelancers; it is eventually an undeniable fact that they are not employees, but skilled consultants who sell their talents to highest bidders in a completive market.
It is fair to communicate deadlines ahead of time to outline terms of the contract via legal documents and project management tools; this mutually agreed terms would help avoid unnecessary disputes and miscommunications in the future.
It is highly recommended to create a workflow for your freelancers to track the status when needed. It will clarify any discrepancy, especially when it is mutually verifiable.
Invest in Freelance Management Systems (FMS) that automatically keeps account of the overall workflow. Using such systematic approach will give companies the upper hand in maintaining synchronization with the task force.
To a freelancer working with a coordinated system will allow them to get in the loop with larger corporations.
Risks and Legal Disputes
Freelancers are not employees! Marketers who see them otherwise would quickly find themselves on the wrong end of the deal. It is an unnecessary risk that can attract lawsuits over breach of terms. Some PEO companies dedicatedly advise the startup firms that hire freelancers if they are risking a violation of the contract over agreed terms. They assign dedicated HR, who strictly work with the startups, monitoring how they handle the freelancers.
Freelancing In Co-working Spaces
The trend of limiting isolation with the co-working environment is soon catching up. More companies welcome the co-working communities as it increases the overall productivity and boosts the work culture. Along with the leading benefits such as a social coordination, it also offers other perks such as food and activities. Some companies allow freelancers an opportunity to work side by side with other enterprises in the co-working spaces.
Millennials are keen to take up leadership roles. Sometimes, they would prefer to pursue an ardor in business. Freelancing has reached new heights, especially in an era where the internet has razed the barriers of communication that otherwise may have prevented individuals from exploring opportunity elsewhere.
As the talent pool continues to overcrowd, it would seem practical for a marketer to rely on management tools to hone in on the right talents to freelance their tasks. It significantly reduces the operational expenses involved in communication, and coordination.
PEO’s will diversify the benefits on both ends of the deal. For a marketer, it helps avoid any litigation and stay focused on the churning results.
Robert Duke is a Marketing Manager and Spokesperson of Blue Mail Media.