The rise in the freelance industry has been a win-win for freelancers and employers. Employers experience financial savings with independent contractors and lower their risk, whereas freelancers gain from multiple income streams, work at flexible hours and have creative freedom. In such a case, employers choose to hire freelancers or regular employees. It is important to know the pros and cons of hiring either of the two to choose one based on your organization’s needs.
The pros of onboarding freelance experts over regular employees
Cost-Effective
Since a freelancer is a remote worker, as an employer, you can cut down on the need for office space and office supply costs. Hiring a freelancer is a cost-effective solution, especially for new businesses that initially want to test run.
Plus, you don’t have to pay for other benefits such as healthcare, paid time off, yearly bonuses etc., because they’re not on your payroll. You only pay for the services you’re getting and for the project’s duration.
Special Expertise
Gone are the days when hiring a freelancer was a tough job. With the meteoric rise in talent-pairing platforms, you can find freelancers easily. To meet your needs, you can identify and choose freelancers with the most unique and specialized skillset. An employee you hire may not be an expert who meets the requirements of all projects, but you can hire special expert freelancers for different projects. You no longer have to hire one person to complete multiple tasks and cause employee burnout.
High Quality of Work
Freelancers need to brand themselves and maintain business relations for repeated customers. They strive to turn in their best work every time and focus on building a relationship with you because they want more repeat clients. While staff members’ performance may have peaks and valleys, freelancers know the contract is always subject to renewal.
Global Reach
For specialized projects or expertise, or even to mark your presence in a new market, employers now have access to freelancers from around the globe on various platforms. Employers can develop or understand unique needs through freelancers on a limited budget. You’re not restricted to hiring employees within the same location and don’t even have to worry about bearing the cost of relocation because freelancers work remotely. s
Fewer Responsibilities and Less Supervision
Independent contractors usually require a low level of supervision which saves time. Freelancers have expertise in what they offer and can produce good results without much supervision.
