Career Growth / Freelance Career

Businesses, It’s Time To Catch Up — The Future Is Freelance

. 4 min read . Written by Priyanka Sutaria
Businesses, It’s Time To Catch Up — The Future Is Freelance

The New Normal is upon us, and there is no better time for businesses to shed old patterns of working, and dip their toes into the gig economy. Here’s why you should hire freelance!

2020 has seen a tectonic shift in the way we imagine and implement businesses

With the global economy by and large having taken a downturn due to the pandemic, and increasing full-time unemployment, a (frankly very likely) hero is here to help us transition into the New Normal.

Her name? Freelance!

You heard it right: the benefits of freelance aren’t just limited to those who work freelance. In this economy, it’s also about the benefits for those who hire freelance.

So why is it a good idea for businesses, especially those who can no longer afford to hire full-time, to look into freelance hiring?

The Freelance Market In India Is Booming

Although freelancing in India has been a growing market, so far it’s been slow and steady. But with every graduating class, there are more and more folks who are dissatisfied with the job market as it exists.

Fixed 9-to-5, five days a week? How boring. Answering to a boss who answers to a boss who answers to the top boss? No, thank you. Wait year in, year out for appraisals and promotions? Not anymore!

With access to better technology (tools, payments, networking, et al), and a desire to break free of the cookie-cutter life they’ve been raised to fill in, each year, the freelance market in India has grown.

The emerging startup boom has made freelance – especially in developed markets such as information technology, digital media, and design – a staple. Of those freelancing in India, 60% are under the age of 30, eschewing the full-time life for the freedom of working on their own terms.

If there was ever a time to hire without fear of full-time contracts, this is it. Young, talented, driven individuals (1 in every 5 a woman!) are ready to work with no full-time strings attached.

Why Is Working With Freelancers A Good Idea Post-COVID?

It’s quite simple actually…

Freelancers Are Cost Effective

Instead of worrying about shelling out a monthly salary, freelancers come into the picture when you have work and need it done on a deadline. 

It’s much cheaper to hire a freelancer for one project, than to hire full-time when you may not have work for that role in certain periods.

Freelancers Bring Domain Expertise

Freelancing is competitive, so you already know that they’re upskilling and growing their expertise constantly. 

A freelancer who has niche expertise can add significant value to your output, because they bring “…reviews, references and a rich portfolio as much as traditional educational achievements…” to the table.

Freelancers Are Better Prepared For Market Changes

To be a freelancer means to be prepared for change; whether the change is an industry update, or something bigger. 

Although a pandemic and its economic fallouts are hard to predict, preparedness is definitely something that freelancers have aplenty. This soft skill is a huge plus in their favour, and a company’s.

Freelancers Are Relatively Easy To Find

Millions are freelancing in India. Regardless of what kind of work you need done, freelancers are not that hard to find.

Whether through networking, work-of-mouth, social media, or online platforms (check out the Kool Kanya Marketplace); hiring in the gig economy is simple and time-efficient

Bad Full-Time Hires Are A Risky Move

Any HR professional will tell you that hiring is time-consuming, difficult, and honestly, a huge risk. 

A bad hire will waste company time and money, while hiring freelancers comes with the benefit of specific work experience and less risks, since they have more incentive to produce better work.

Instant Benefits Of The Gig Economy

Other than the long term benefits of hiring freelance, it also leads to immediate productivity because freelancers are not likely to indulge in a buffer period to ‘settle in’ to a company. 

Instead, like the company itself, they will be focussed on getting the project done within the deadline. 

Freelancers also reduce concerns about having office space, or large scale overhead costs.

Whether you’re a big company, or a local business, freelance hires are definitely more advantageous than not. With a post-pandemic question mark looming over the economy, it is more important than ever before to reconsider and reconfigure the rules of work engagement.

If all these pros are not convincing enough to give freelance pros a chance, then we don’t know what is. So venture forth, well-informed and ready to take on the challenges of the New Normal!

Research: myHQ Digest, Payoneer

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