Are you a part of the freelancing craze? Freelancers are a growing part of the global workforce. This trend is particularly noticeable in the United States, where freelancers now make up 35% of the workforce as of October 2016.
Even more impressively, freelancers collectively raked in $1 trillion last year.
Freelancers have obvious reasons for choosing their path—the flexibility of working from home, setting their own hours, et cetera—but as a business owner or hiring manager, what advantages would your company stand to experience through the hiring of freelancers?
Below, we’ll answer that question by breaking down the top 6 advantages of hiring a freelancer. Let’s get started, shall we?
Advantages of Freelancers
1. Flexibility and Special Expertise
Freelancer talent offers your business flexible access to special expertise at the proverbial drop of a hat.
Independent contractors are often available at exceptionally short notice to fulfill a sudden demand that your in-house team may not be capable of meeting. Additionally, freelancers tend to be specialists in their respective fields, and occasionally are adept at niche tasks. Often, these freelancers can offer a service that simply no one under your current employ can provide.
2. Reduced Risk
The fact that freelancers are not technically employees greatly reduces the risk your company may incur.
Risk reduction is enjoyed because freelancers cannot collect unemployment insurance and are relatively easy to terminate if they are not performing their job up to your specifications and expectations. When you rely on traditional employees, you’re “on the hook” for a lot more.
This is always an attention-grabbing headline for employers—hiring freelancers will save you money.
Regardless of a contract worker’s hourly rate, it’s imperative to bear in mind that you aren’t responsible for paying a menagerie of benefits on behalf of your freelance talent. This includes Medicare, Social Security, health insurance, retirement benefits, and more.
Also, we all know office space is at a premium. Freelancers typically are equipped with modern home offices and can work remotely, cutting down on office space needed. Additionally, supply costs are often lowered because contract workers operating remotely typically own and utilize their own resources.
4. Fewer Responsibilities and Less Supervision
Freelancers help you and your colleagues avoid unnecessary headaches, too. Independent contractors usually require a low level of supervision due to the fact they’re representing themselves. They’ve likely performed hundreds or thousands of gigs previously, and know how to approach a project swiftly and intelligently with little hand-holding—after all, their livelihood depends on it.
Additionally, payroll responsibilities for a freelancer versus an employee are significantly reduced. You aren’t burdened with worrying over FICA tax withholding and other chores when you enlist the services of a freelancer.
5. High Quality of Work
For freelancers, building and nurturing relationships is everything. And what’s the most integral part of any business relationship? Turning in high-quality work.
While normal employees may be more sporadic when it comes to consistent quality, a freelancer’s motor is always running high. This is because in running their own business, contractors are heavily reliant on repeat business. Hence, they’re uniquely motivated to provide stellar work and excellent turnaround times. Nothing is guaranteed for a freelancer, so they take nothing for granted. This outlook will only benefit your business.
6. Worldwide Reach
When you hire a new in-house employee, you’re pulling from a finite pool. Future employees must either already live in your immediate region or be willing to relocate on short notice.
Conversely, if you decide to look for a remote resource, freelancers aren’t in-house and thus don’t need to hail from or relocate to a certain area. This offers your company a worldwide reach when choosing talent for tasks. It’s never been easier to get paired with talent.