Are you a small business owner? Do you have a project you need to get done as soon as possible? Do you have the capabilities to get it done through your existing staff?
These very questions are poised to every small entrepreneur in everyday business. So in order to get the project completed in time, do you need to hire new employees or should you hire a freelancer? These questions are good enough to wake you up in the middle of a night. Over the last decade, the business world has changed a lot. With more professionals working from remote places, the old workplace culture has started to make way for the new work culture of the freelancers. The rise of freelancing work culture is beneficial to both sides of the table. Employers get professionals at lower cost and the professionals get added income working in between jobs. With a freelancer in a business project, one can reduce the employee cost by 20 – 30% even while paying a high hourly rate.
In addition to this, the employer needs not worry about fixed costs like insurance benefits, retirement benefits etc. which are there with full-time employees. Also, since less full-time employees are required, there is no need for large office spaces, and the employer can reduce expenses on account of maintenance and supply of office costs. Since freelancers are not full-time employees, they do not have the right to sue the company for harassment or discrimination.
Hence, this saves the employer a lot of risk on account of these as well. Once an employee is hired, you need to get all work done through them. But in freelancing, you can have the best person for the job and thus can have a master for every job and since freelancers want repeated work, they thrive to give quality results. As of now, 34% of the workforce in America is freelancing and they contribute almost 715 billion US dollars to the economy.