The digital evolution in business have driven many companies to revamp and rethink their ways of doing things, invest in artificial intelligence and digital marketing tools, outsource support and administrative processes to focus on core competencies and in order to thrive in this new era.
With this change, the demand for freelancing services has skyrocketed and a new breed of working professionals has emerged-- the digital freelancers and virtual assistants. In fact, in the United States, according to Forbes' article, 35% of US workers are now freelancing as of 2019 with 4 million freelancers being added to the workforce between the year 2014 to 2019.
Benefits of Hiring a Freelancer
Getting freelancers on board have been crucial for organizations as the potential benefits from hiring one have become more and more evident. We can cite five key benefits which prompt firms to hire freelancers and navigate towards this emerging trend.
1. Cost Reduction and Increased Profitability
Businesses reap greater profits as they eliminate a number of cost drivers. Companies for instance, drastically cut their overhead expenses as freelancers tend to telecommute and operate remotely. Freelancers normally are equipped with their own office tools and equipment. Savings on labor cost can't be downplayed as well. Organizations don't need to spend on employee benefits such as retirement plan, health care, allowances when recruiting temporary, project-based freelancers. As freelance workers bring in specialized expertise and technical know-how in the job they applied for, firms can benefit largely from reduced training cost and increased efficiency by hiring freelancers.
2. Flexibility in Scouting Talents
Increased globalization has spurred the growth of freelancing services in certain regions of the world especially in Asia where highest growth was recorded. Specifically, there has been a 138% surge in its gig worker earnings according to CNBC. With this wider reach, firms have the option to leverage on a diverse pool of freelancers to meet certain business needs.
For instance, a business who'd like to expand its business in South Korea might opt to take advantage of digital marketers from the region to execute its marketing activities. A company, on the other hand, might choose to hire freelance workers in countries where administrative services can be outsourced at highly affordable rates.
3. Specialized Skill and Expertise
Freelancers demonstrate expertise and valuable knowledge in their chosen niches. More often, organizations might have a demand for specialized services (e.g. Web Design, SEO) within a short timeframe which makes it more practical and beneficial to hire project-based freelancers to perform the job. Freelancers may bring in to the table certain skills that none of a firm's employees might exceptionally deliver.
4. Greater focus on Core Activities of the Company
Virtual Assistants, in the recent years, have emerged as more top executives realize the need to focus on high value-added activities and critical tasks which require their full and undivided attention. General Virtual Assistance freelancing jobs such as Appointment Setting, Data Entry, etc have been commonplace.
Social Media marketing has been the name of the game. A number of small to medium-sized companies are struggling to adapt to this emerging trend as they fail to strike a balance between sustaining their key operational activities and promoting their businesses via digital channels. As such, they take advantage of digital freelance marketers who are adept at this field and whose services can be outsourced without firms having to shell out too much money.
5. Independence
Freelancers, for a fact, can deliver even with minimum supervision. Business clients can take advantage of the fact that freelancers are accustomed to working independently. Typically, engagement is heavy at the start with clients having to align freelancer on their goals, expectations and deadlines. After which they can expect interactions to be on an "as-needed" basis. Indeed, it's no wonder why this gig economy is booming and as freelancers continue to shape the future of business.
To gain more of these benefits and experience them first-hand, you can connect with me by dropping a message at ideskvirtualsolutions@gmail.com