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Reasons Your Business Will Benefit Working With Freelancers

20 May 2022 | 0 comments | Posted by Dea Muric in Temping

How businesses benefit from using freelance labour

The digital workplace is undergoing tremendous changes, likely to keep growing. A recent study shows that there are about 1.1 billion freelancers globally of about 3.5 billion workers and those figures keep increasing daily.

That pops up the question, "why are there so many freelancers globally and why are companies interested in working with freelancers, and what benefits do they stand to gain?"

Reasons Your Business Will Benefit While Working With Freelancers

Before we delve into the benefits, let's address why the number of freelancers keeps growing worldwide. The main reason has to be the post-pandemic effect; workers have seen the light, and they are not willing to go back to the office since they can perform all tasks from home.

The hybrid work model is gaining more traction, and it is not stopping anytime soon. The number of freelancers is expected to hit an all-time high by this year.

1. Freelancers have specialised skills

For instance, for an organisation that needs to do an audit of their financial record, and there are no capable individuals to do that, the expertise of an auditor can come in handy here. An accountant might have little idea about auditing, but they are not specialised in that niche.

So, instead of waiting for the long recruiting process by your HR, hiring freelancers for some time and paying for their services after the task will be a better decision. Many companies try to outsource the recruiting part, and they do that by using some of the best PEO services that can handle the recruiting and hiring process of contracted employees and freelancers likewise.

Additionally, if you are not pleased with the service of a particular freelancer, you can easily hire another freelancer, but such can't be done with in-house employees. You need to train them, which costs you some money and at least gives them the benefit of the doubt for a few months (probation period).

2. Freelancers are cost-effective

Freelancers are virtual workers and do not require an office space, so you can decide to run your business from a small office space and save thousands of dollars monthly. You save more on training and equipment since freelancers do not need that.

With freelancers, you do not need to spend extra money to hire full-time employees; recruiting just an employee requires $2,000 as advertisement, planning, and outsourcing require money.

3. Retention

Retention is not only synonymous with full-time employees or in-house employees; you can retain or rehire a freelancer if you are pleased with his skills and service. For instance, freelancing platforms like Upwork allow you to invite freelancers you think are capable of handling your job with perfection.

So, if after you have ended a contract with a freelancer and you need his service again, you can easily invite the freelancer for a job offer; the freelancing platform will notify the freelancer about the job offer, and he can easily accept to work for you again.

4. Quick turnaround

There are lots of distractions at work, and in-house employees are easily distracted while on duty; this could lead to low productivity and errors in the final output—freelancers, on the other hand, work from home or in a conducive co-working space free of distractions.

Freelancers' freedom in working from anywhere they deem fit makes them reliable. They offer a quick turnaround for your service and top-notch quality.

Global span

Freelancers are all around the world; if your business requires the service of a website developer in Asia or any other country, all you need to do is search for website developers in that country on any freelancing platform. You will have the best freelancers at your fingertip.

So, freelancers can save you the cost of hiring a global PEO or employer or record without having a legal entity in such a country.

Conclusion

Freelancing is taking over gradually, and soon we might have more freelancers than in-house employees due to the benefits businesses are deriving from them.

Freelancers are cost-effective as you pay by the project, and if there are no projects to work on, you don't need to pay them. In-house employees, on the other hand, receive wages or salaries irrespective of the business' loss or profit margin.

Freelancers also handle your project with expertise and with a quick turnaround.

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Recommended reading

If you enjoyed this post and have time to spare why not check out these related posts and dive deeper down the rabbit hole that is remote work.

Tags: Freeelancing, Remote Work, Guest Post

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