Freelancing is a relatively new phenomenon as a business strategy and dates back to the early 90s. It has gained increasing popularity alongside the growth of the internet. The decision to hire freelancers is often considered a strategic move and can definitely be a way to grow your business. With over 50 million practicing freelancers and online platforms, such as Upwork or Workhoppers, it has never been easier to hire the right freelancer to get your jobs done.
Here are 6 ways hiring a freelancer can help you grow your business:
1. Reduce costs:
Hiring freelancers on a project by project basis allows you to outsource skills that are not your core competencies and thus reduce the number of permanent employees and consequently your fixed costs. You can leverage these savings towards more profitable areas.
2. Shorten TO DO lists:
That To Do list can be your best friend or your worst enemy. If you find your to-do list is getting longer and longer with no end in sight. This is the time to consider hiring a freelancer. Hiring a freelancer to come in for a few hours or a few days to get some of those tasks done can be just what you need to get you back to being your most productive again.
3. Increase flexibility:
The use of freelancers can give your company more flexibility in your operation. Many companies face seasonal, cyclical and fluctuating demands. Being able to cope with these changing demands, through the use of freelancers, can keep your labor costs low, efficient and predictable.
4. Benefit from Best expertise:
Your company may not have the need or resources to hire the best experts on a full-time basis but that shouldn’t stop you from hiring the best! Good people are what make companies succeed and being able to tap into the most experienced professionals with the best practices can be most beneficial to grow your company. Hiring a freelancer on a temporary basis allows you to do this. An additional bonus is that some of these skills may rub off on your permanent staff.
5. Less training:
Hiring and training new employees can be extremely costly, time-consuming and risky. This is especially disconcerting when the new employee does not work out. On the other hand, professional freelancers can be quickly on-boarded, often require little training and hit the ground running. In many cases, these temporary hires can turn into full-time employees reducing costs and risk. Lower costs and reduced risk is a win-win for a growing business.
6. Accelerated results
When new projects or tasks arise in a company, assigning it to a current employee, who has many other responsibilities, with many distractions causes delays. Hiring a freelancer to focus specifically on this new task will often result in a reduction of time to market.
The hiring of freelancers is on the rise. Forward thinking companies are tapping into this new “freelance economy” as a competitive strategy for growth.
Written by Linda Singer, co-founder of Workhoppers, a site JazzHR has partnered up with that specializes in finding companies the right skilled local freelancers for contract, temporary, gig or part-time positions.