In order to be more flexible and save money, more small businesses are straying away from the traditional model for hiring and opting to bring on freelancers instead. Freelancers can bring many benefits to your business, including your bottom line.
You will find that skilled freelance talent assists small businesses in unlocking their potential by resolving complex problems, being more productive, and completing projects with faster turn-around times. Many small businesses rely on freelancers to stay competitive in today’s ever-changing marketplace. In this surging gig economy, small business owners are looking to freelancers to give them a competitive advantage.
Here are six ways that freelancers can help you accelerate growth inside your business.
1) Enjoy Cost Savings
It is common for freelancers to choose a niche and stay with it. As a result, they become experts in a specific field. Your small business will reap the advantage of hiring these freelancers for special projects such as contractual work for new blog posts, social media, marketing, or developing a website. This costs your company considerably less than hiring a new full-time employee.
Conversely, when you assign these tasks to a full-time employee, you’re pulling that person from their regular duties, which could negatively impact your productivity levels, draining your profit margin. Freelancers enable you to accomplish this important job without draining your pool of staff employees, and that saves your small business money.
2) Connect with the Best Talent
Small business owners can tap into a freelancer’s expertise in an area, which results in better quality work. If your business needs a specific skillset for a special project, then you can bring on a freelancer who has perfected that same craft.
The more seasoned a freelancer is, the more value they can deliver to your company. By hiring a freelancer, you avoid devoting internal resources or creating a permanent position on your payroll.
Thanks to the adoption of remote work – spurred by the Covid-19 pandemic – and the rise of the gig economy, you are able to hire the world’s most talented workers for your special company projects. You essentially have access to a greater number of freelancers who are well-versed and knowledgeable in the field.
Here are a few popular places to find freelancers:
3) Fill Specialized Roles
By choosing to hire within your staff to fill a specialized role, you restrict yourself to a local pool of talent. It becomes challenging to identify the ideal person for a special project that requires a specific skill set and a particular body of knowledge.
With freelancers, however, you are able to build effective teams and fill skill gaps within your business. Because you are hiring a freelancer with a deep knowledge base for your special project, you also don’t have to be concerned with lowering your hiring standards.
4) Build Your Small Business Faster
Your business can track down the best freelancer for specially-skilled positions in a matter of days. However, it could take as long as six months and maybe longer to bring on the right new full-time employee.
This time difference enables you to build your company much faster than if you waited for newly hired employees to fill these important roles.
According to a recent study commissioned by Harvard Business School and Boston Consulting Group, as many as 40 percent of businesses said that hiring highly skilled freelancers helped them improve speed to market, increase productivity, and heighten innovation for their company.
5) Acquire a Fresh Perspective
Another major advantage of hiring a freelancer is that they offer a fresh perspective for your special project or task. They can provide unique ideas to your team with their distinct background and unique experiences.
This freelancer’s new take on things may allow them to help you find a different way of understanding your customers’ needs. Your freelancer won’t necessarily adhere to your company’s existing mindset for solving problems or improving the quality of your products or services. This fresh approach could end up giving your business a competitive edge.
6) Gain Flexibility in Your Schedule
A big advantage of seeking the services of a freelancer is that they are available to be hired 24/7. This translates into a freelancer stepping in to resolve a last-minute problem with one of your teams. For example, a social media platform may have gone down. If you wait several days or longer for the availability of the right staff employee, that is a great deal of time that may negatively impact productivity levels.
It is helpful to keep in mind that a freelancer is usually very flexible with respect to their schedule. This enables you to prioritize a client’s needs over the availability of a full-time employee at your small business.