Running a company is no easy hustle. Being a startup with a huge team, in all certainty, is even more tasking. One way to offload some pressure is to onboard freelancers
When there’s a constant overhead calculator swinging like a ticking pendulum in the back of your mind, thinking freely and creatively can get difficult. That is why we have decided to examine some of the top Advantages of Hiring a Freelancer for your business.
Who is a Freelancer?
A freelancer is an individual who works for you or your company on a contract project basis. These professionals are self-employed and do not offer a long-term commitment to any one employer.
India boasts of a freelancer market of 15 million individuals who work independently and concurrently in sectors like marketing, sales, content, finance, etc.
In fact, the creator economy that is booming across the world is largely buttressed by the contributions of freelancers collaborating across borders and creating worthe leading countries with top freelancersthe leading countriees with top freelancers.
At the get-go, you’re likely to think of freelancing as the same old business-sans-loyalty approach. Some might go ahead to even call it Work with Benefits or The No Strings Attached approach to business.
However, the results generated by today’s freelancing community have fast outgrown this perception. In fact, several big companies today are actively hiring freelancers to grow their businesses. Not only are they more affordable in the long run, but also add a greater value to your business with the expertise that they bring to the table.
Advantages of Hiring a Freelancer
Here are our to ten ways hiring a freelancer might not just save you some pennies but also help grow your company in the right direction:
1. You Spend Less Money On Equipment
Your company infrastructure comprises the sum total of the physical assets in the name of your company. This includes your office space, employee computers, electricity, chairs. It’s a lot!
Every employee that works in close concurrence with you in the office is owed salary, perks, and space. The fewer people you hire, the less will be your obligations to them. Imagine – lesser team costs, lower rent, and lower bills for the same amount of work!
When you onboard a freelancer, you also onboard their skill set, their equipment, and their work infrastructure. A freelance cinematographer comes with his own camera gear, laptop, and software among other things for the period of the project. And hence all you have to pay for is the final product!
2. You Save On Training Expenses
Training Freshers in the job market is a mammoth task. Apart from driving them step by step into the company culture, you also have to take charge of their mistakes, which often come at an added cost to the company.
None of that is a necessity while working with a freelancer. A freelancer comes with a defined skillset accessible to you via their work portfolio.
You can also be completely certain about their work by asking for their previous work and examining it well in advance before you hire them for a project.
Instead of burning money on inductions and grand HR activities, you could simply hand over the project to a freelancer who knows what buttons to push when and gets the job done.
3. You Pay For End Product
Disguised Employment is one of the key things that hit a pause on the growth arc of any company.
Also known as hidden unemployment, Disguised Unemployment refers to a situation where people employed in a job don’t actually contribute to the process of production of goods and services.
It’s when you have three people doing the job of one, which obviously is a loss to the company.
A lot of times full-time employees get paid for warming their seats. What this essentially translates into is a process of burning company money on employee salaries even when you do not have an adequate amount of revenue flowing in.
When you hire freelancers you pay them by their project. That is, instead of paying them a fixed amount every month, you pay them in exchange for the deliverables they offer every month. When you notice a slump in business, you can reduce the number of projects that are handed out to freelancers and budget your way through the transactions without having to deal with employee grudges.
4. Invest In Expertise
When you have a smaller and more talented staff, alongside a robust repository of freelancers, your company paves a path for itself within the realm of quality talent. When you hire freelancers, you get the choice of hiring experts in the field. Hiring a full-time employee with thirty years of experience is an expensive affair. However, hiring a freelancer with the same thirty years of experience for a short-term project is likely to come cheaper.
While dealing with freelancers, your company has a wide scope of negotiation on the table. You get to work out a price that works for you and if you don’t, you’re free to look elsewhere!
5. Company’s risk reduction
Working with a freelancer allows you to construct a precise contract deliverable before payment, rather than risk losing that investment if the employee decides to leave the organization. Working with a freelancer also lowers the risk because modifications may be made without disrupting company operations.
6. Better quality work
Freelancers improve their reputation, upgrade their portfolio, and multiply their chances of future employment or referrals by effectively completing projects with outstanding qualities.
Freelancers can dependably deliver high-quality work because of their diverse experience in different projects. You have the opportunity to explore a freelancer’s portfolio and interview them to ensure they’re the best for your offer.
7. Little or no supervision
Freelancers need less supervision because they are representing themselves, the norm is that contracting employees usually require little supervision. They’ve probably done a large number of gigs in the past, and they know how to tackle a project quickly and smartly with minimal supervision.
Freelancers can be hired at any time or day of the week. And one good thing is that they can help you resolve a die-minute problem. They work when your permanent staff will be on holiday r request overtime pay. Your payment employee may sign out and go home at 4 p.m., but freelancers frequently have a more flexible work schedule that may be tailored to the demands of a client even at night.
9. Outstanding talents
The greater a freelancer’s experience, the more value you can benefit from taking their gig. Most freelancers are multi-talented with outstanding sets of skills. If your company needs a particular skill set for a project, you can find a freelancer who has spent years offering such.
In most cases, freelancers add some other salients skills to your project, which might not be known to you
10. Compete with other Competitors
You might struggle to stay relevant, catch up with the latest trends, or attain your targeted goal if you rely solely on full-time employees.
To remain competitive as a business, you must be innovative. However, the companies that win aren’t always the ones that first came up with the best ideas. They are the ones who execute them in no time.
The benefits of hiring freelancers are enormous. Every business needs a few full-time employees to build the company culture and ethos, but that doesn’t come cheap. Especially not when you’re running a small business in this economy!
Hiring freelancers to drive your projects might work out in your favor if you’re looking for great results at great prices. The scales of your budget and business definitely determine the scales of the work you on board, but hiring a freelancer is a good start,
If you want to cut your business expenses by a margin, using freelancers makes a lot of sense!
Questions you want to Ask
Are freelancers entrepreneurs
Freelancers are not entrepreneurs. Entrepreneurship is about having a business idea, building a company, and then taking the risks to make it grow. Freelancers are usually just self-employed and they do not take any risks.
How often are freelancers paid?
Freelancers may be paid daily, weekly, or monthly. However, the most popular method is to pay them on a per-task basis. The freelancers are paid once they’ve completed their job.
Paying freelancers is on a project-by-project basis, which means that they only get paid when they finish a project.
Where are the best places to hire freelancers?
There are numerous websites you can search on to find freelancers. Websites like Upwork, Fiverr, Guru, and freelancer.com are still the best platforms as I write this post.
However, some have more advantages than others. Certain sites offer better quality freelancers, whereas others are cheaper.
You must also think about the kinds of skills you need for the job you’re looking to fill and whether freelancers are available in your time zone.
How much do freelancers charge?
Freelancers can offer a variety of payment options. The price is based on their expertise, experience, and the amount of time needed to finish the task. Some freelancers charge hourly, and others are charged tasks or projects.
Hetvi works as a Product Associate at Refrens.com – Online Invoice Generator & India’s most powerful platform for freelancer growth. She has worked for some renowned companies as a Brand and Digital marketing associate. You can follow Refrens.com on Twitter, LinkedIn, and Instagram.