— September 2, 2019
The freelance economy has made hiring freelance talent so much easier and more efficient. Many, especially among the millennial generation, are seeking gig work rather than traditional employment. Because freelancing is no longer seen in a negative light, the best and brightest are attracted to the freedom it provides, along with all the other associated benefits.
The gig economy has grown by leaps and bounds over the past couple of decades. As the Internet and all the various tools developed for people using it grows, so does the freelance economy. 84% of those who freelance in the US do so by choice.
The face of work has changed, and so has the way we do business in this highly connected world that we live in.
These young adults of today prefer the freelance life to corporate employment, and some see freelancing as a stepping stone to running their own businesses. Eventually, if the gig economy trend continues, they will build their businesses using freelance talent. Those who have already set up their own businesses are also seeing the advantages of hiring freelance talent. 94% of new work opportunities between 2005 and 2015 were non-traditional, including gig work.
So, what exactly is so great about freelance talent and how are businesses making the most of it?
Freelance Talent Improves Outsourcing
The western world has been outsourcing to the East for many more decades than the freelance economy has been in existence. But outsourcing back then entailed a lot of travel, initial expense, and logistical headaches. Having freelance talent cuts out many of the difficulties involved in traditional outsourcing while it brings added benefits as well.
Business owners can hire freelance talent from practically anywhere in the world. All that’s needed is access to the Internet. Most freelance talent today grew up with the Internet, or at least learned to use it and the associated tools at a young age. The barriers to outsourcing that plagued businesses just a few short decades ago no longer exist.
More and Better Options
The availability of freelance talent today ensures that business owners have far more options than ever before. They can hire from a pool hundreds of times larger than they have in their local area. Moreover, what few places remain without Internet connectivity will soon get hooked up, and even more options will become available.
As mentioned, the majority of the working population today prefers gig work, even if it’s just for extra money on the side and not a career. Hence, freelance talent today is not by any means composed of a rag-tag bunch of people who can’t hold down steady jobs. They are the cream of the crop because the gig economy provides far more and better opportunities for advancement. This means that business owners get to hire the best of the best.
There is no overhead to consider when working with freelance talent. There are no offices to maintain or equipment to purchase. There is also no longer any need to constantly travel to distant lands to secure and maintain a remote workforce. Almost everything from searching for, interviewing, hiring, paying and managing freelance talent can be accomplished online.
Business owners can even depend on freelance talent to manage their businesses. There is no need to support an in-house management team in each country where freelance talent is sourced.
Freelance talent can cover almost any type of task that a business owner might think of outsourcing. As long as it does not require someone to be physically present, there isn’t likely anything that freelance talent can’t do. Many businesses are taking advantage of freelance talent for most areas of their businesses because its easier, faster, cheaper and less risky without the long-term commitments of employing people.
Some common everyday business tasks that freelance talent can take over include bookkeeping and accounting, Amazon Private Label management and operations, Shopify operations and store management, general eCommerce retail, social media, content writing, and many other tasks that freelance talent is well-suited for.
Special Growth Projects
Every business at some point will find itself lacking the manpower needed to accomplish certain projects that require special skills. Freelance talent is an absolute boon in this area.
Decades ago, businesses would often have to venture far from home to locate the specific talent that they needed, often spending large portions of their budgets trying to attract the people they can’t hire locally. They would then spend even more to secure this talent, which often meant adding relocation and living expenses to already substantial salaries.
Freelance talent with special skills, although still rarer than the average hire, doesn’t need to be sought out in person or relocated. Business owners can search for them the same way that they search for any other hire, as well as negotiate and collaborate. The only expense is paying for the actual cost of their services.
A few examples of special growth projects that require skills you don’t have in-house may include Shopify store development, graphic design, video editing, marketing, PPC and Facebook Ads.
Because of all that can be gained by hiring freelance talent, the gig economy trend has continued to thrive and grow. Businesses will therefore definitely continue to use freelance talent over the next five to ten years, at least. The freelance economy simply shows no signs of stopping. Furthermore, as Internet connectivity becomes stronger and more widespread and as new technologies emerge, even more and better freelance talent will become available to businesses everywhere.