If you want to achieve true success in today's market, then conventional staff won't cut it.
When it comes to hiring talent for the completion of certain tasks, businesses have two choices: they can either hire a conventional employee or hire a freelancer.
The job climate is changing, and a series of major shifts have facilitated in a growing number of companies considering investment in freelance talent, rather than traditional hiring strategies. Part of the reason for this is the shortage of qualified workers.
While many professionals struggle to find suitable employment that meets their skills in the uncertain modern economy, companies are also facing challenges in finding skilled workers.
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According to the Employment Dynamics and Growth Expectations annual report (otherwise known as “EDGE”), on a one to five scale, employees rated the difficulty of finding a job at 3.56, whereas employers rated the challenge of finding candidates at 3.47. Over the recent years, the apparent shortage in qualified workers has intensified, with 59 percent of hiring managers describing it as their primary problem for expansion.
Attracting the right talent in order to excel within the competitive job market is an essential factor in the success and growth of any business. However, as recent employment trends continue to indicate more professionals may need to turn to freelancers, there may be more reasons than ever to fire your staff and turn your company in a different direction.
While firing your entire team may not be the ideal option, the following list outlines plenty of reasons why businesses should consider hiring more contingent and freelance workers as long-term members of their team.
Freelancing Is the Future
According to "The Future of Work" event covered by techcitynews, most experts agree that freelancing is what the future of talent acquisition is all about. Today, freelancing is no longer seen as a temporary solution to emergency problems, freelancers are experienced professionals with impressive track records and sought-after skill sets that permit them to dictate the terms of their own career, and add value to almost any business organization.
Stats have already indicated that freelancers will make up around 40 percent of the labor force by the time we hit 2020, and it's easy to understand why. Freelancers give companies the option to cherry-pick the best and brightest talent from around the world for their taskforce, and more workers than ever are beginning to take the plunge, moving out of full-time jobs to opt for freelance solutions.
Conventional Full-Time Employees are Disengaged (and Dissatisfied)
A recent infographic published some worrying statistics about the engagement of typical full-time workers. Not only are 88 percent of employees today lacking in any kind of drive regarding their work, but this lack of engagement leads to a loss worth more than $500 billion for the U.S economy. As traditional employees continue to experience dissatisfaction at work as a result of overworking and underpayment, the productivity in workplaces that fail to access freelance solutions is rapidly disappearing. Around 4 in 5 full-time employees lack interest in their jobs, and this absence of motivation kills creativity and innovation - forcing various industries to stumble and stutter at every hurdle.
Contrastingly, a freelance workforce can offer a source of creative energy, with new ideas that inject fresh thoughts into your business with positive and engaging perspectives. Freelancers can invigorate your business, and may even rub off on some of your remaining conventional employees — leading to greater levels of success.
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Freelancers Care About Success
While research shows that traditional full-time employees lack engagement, other studies are proving that freelancers are more satisfied, engaged, and committed to helping their clients succeed. When Field Nation, an online freelance and workforce management platform, questioned freelancers regarding the level of commitment they show in connection with the success of their customers, over 93 percent suggested that they actively pursue the goals and aspirations of their clients. In other words, freelancers may be better at relating to the needs of their customers, while accessing the dedication required to achieve success in any given task.
Expand Your Available Pool of Talent
Statistics show that more seasoned professionals are choosing to change course and begin freelancing every year. Because of this, the chances are that some of the best talent out there for your project may not want a conventional or full-time position. Exchanging traditional employees for freelance talent means that you can expand your search and look for specific, specialist skills.
While hiring permanent staff often limits the search to a small number of professionals within a local area, opting for freelance workers enables businesses to employ contracts from all across the globe - based on their available skillset.
Make Your Business More Cost Effective
Though having a full roster of conventional staff may seem like a nice idea, for a lot of jobs, it's far more efficient to take on freelance talent. Beyond the fact that you won't be paying extra salaries for times when the workload is low, another advantage associated with using a freelance worker is that costs for benefits, office equipment, and space disappear.
Sometimes, it can be tempting to compare the rates of an in-house member with a freelancer based on hourly cost, as often freelancers do charge more per hour. However, it's important to take all costs into account during this step, as though the hourly rate may be higher, the cost overall with overheads and benefits could come out cheaper.
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Revitalize Your Workforce
Permanent workers have their place within a business. They stay with the company long-term, advancing within their role and developing experience which allows them to generate a wide variety of new skills. On the other hand, freelancers can specialize specifically in one particular field, making them ideal for certain roles.
Revitalizing your workforce by replacing some conventional staff with freelance talent is a good way to keep business overheads down while optimizing access to expert knowledge, skills, and commitment.