Why Should You Hire Freelancers?
by YOSS Community Writer, on October 23, 2019 at 3:45 PM
Think the rise in freelancing is a fad? A recent survey conducted alongside LinkedIn and Longitude Research says otherwise. The report found that between 20% and 30% of people in the developed world are independent professionals, to some degree. On an employee engagement level, the study found that 82% of Millennials prefer the independent professional schedule to that of traditional employees. And in 2018, alone, the gig economy pumped $1.4 trillion into the U.S. economy and $337 billion in Europe.
So, really, freelancing isn't so much a trend as it is a paradigm shift of the modern workforce. More and more employees seek the chance to be their own bosses, manage their own time, and control their professional trajectory. The freelancer work structure allows for this freedom and opens employers up to this wide array of creative and efficient thinkers.
The Freelance Economy Growth
The internet is a big contributor and a valuable resource to freelancers and the gig economy. According to a 2018 Payoneer study, nearly three-quarters of all freelancers used online platforms to build networks, connect with industries, search for jobs, and build their professional portfolios.
However, before technology turned freelancing into a lucrative business, it wasn’t a very highly regarded career choice. Stability meant job security and steady employment with a single company. Anything less seemed insufficient; anything more seemed excessive.
Today, however, the scope and scale of the gig economy completely transformed the landscape. Here are some reasons to hire freelancers:
1. Freelancers Are Self-Motivated
Many things motivate independent workers, freedom being one of them. Having the flexibility to set their own schedules and accept lucrative projects helps freelancers produce their best work. Money isn't the only deciding factor when freelancers accept projects, and freedom doesn't need to breed chaos. Being their own boss gives them a greater sense of purpose and broader opportunities for growth
One of the main reasons people choose freelancing is simply to get away from constraints. It's an escape from the office politics, unreasonable schedules, uncompensated overtime, and many other complaints traditional employees typically have. Understanding this gives companies a much better sense of how to recruit the most qualified freelancers for their projects.
2. Freelancers Are Flexible
Because freelance work is fleeting by nature, the common belief is that freelancers excel only at one-and-done assignments. Companies that don’t realize the scope of freelancers expertise aren’t likely to expand how they use contractors beyond that. However, freelancers can have significant long-term value through repeat engagements or retainer setups.
The more frequently freelancers partner with companies and learn more about their inner workings, the more proficient they become with each new task. Companies see this value and are beginning to build long-term relationships with their freelancers. They hire the same professionals for repeat projects or offer monthly retainers. Establishing longstanding partnerships between companies and contractors benefits both parties. You can hire freelancers for a one-off project, or develop long term relationships with them.
3. Freelancers Are Experts in Their Fields
In many companies, one-shot projects are usually creative tasks, such as design development or content creation. Creative work is the bread and butter for freelancers, but it isn’t the only field in which high-quality experts choose to contract.
More and more freelancers bring advanced technical skills into the gig economy. For example, customer relations management, an area that freelancers can gladly work in, is expected to grow by 600% by the year 2025.
Meanwhile, metric-based services such as data cleaning and analysis continue to grow more common. Companies don’t have access to enough full-time, highly skilled talent to accommodate the growth, so freelance data experts readily fill in those skills gap. In other words, there's a place in the freelance space for those in noncreative fields too.
In the coming years, freelancing will likely continue to be a factor in several industries and a dominant force in the world’s economy. With advanced AI platforms, training programs like General Assembly, and a rapidly expanding gig market, iPros have everything they need to successfully sell their skills.
The freelance movement continues to change the economy and open up new opportunities for companies. At YOSS, we represent the very best pre-vetted freelancers in the world. We only engage with the top 1 percent of talent. So whether you are looking to fill a particular position or to shore up your talent pool, we can help.
Our mission is to make agile staffing easy for companies like yours so see how YOSS can help you manage or add to your workforce below with YOSS Talent Pools.