runar restrup, YunoJuno Director
There were 4.1 million self-employed in the UK in 2021, and these workers contributed £303 billion to the UK economy, IPSE reported. Highly skilled freelancers – who, according to the report, “play a vital role in the economy by enabling companies to manage and mitigate entrepreneurial risk” are estimated to provide nearly half of that £303 billion.
As the CEO of a freelancer discovery and management platform, I’ve found that an increasing number of high-growth, forward-looking, agile companies ensure they have the right processes in place to easily onboard and work well with top freelance talent. . Here are the three reasons why you might want to consider working with freelancers in your business:
• Direct access to talent: Hiring companies that require certain skills for a project can identify a freelancer who is an expert in that skill, rather than using the same staffing team for all the different jobs. In addition to the niche experience and skills they bring, freelancers are attractive in other ways because of the way they work. In my experience, many are usually results-oriented, committed to deadlines and strong communication skills. In addition, the quality of their work is directly related to how much money they can charge for it. That is why you can usually expect a freelancer to provide you with quality work.
• Increased efficiency: Although the daily rates are increasing – the latest from my company Freelancer Rate Report (download required) averages across the platform at £368 per day – you may find freelance talent a cost-effective option for your business. Full-time employees are expensive, and business owners are responsible for training costs, benefits, paid time off and more. Hiring a freelancer can eliminate a lot of these overhead costs.
• Agility and Competitiveness: Companies that put freelance talent to good use can have an edge over companies that rely solely on full-time teams, as companies that work with freelancers may find it easier to complete projects efficiently while also retaining the flexibility to switch to another. , suitable freelancer for any project. In addition, with the restrictions on employee status removed, working with freelancers gives hirers the opportunity to source talent from different time zones and around the world. Gen Zers enter the workplace, and research shows that they expect a greater degree of personalization in managing their career paths than previous generations.
Top tips to attract freelance talent
I am convinced that freelance is the future. However, learning how to best work with freelance talent is essential if you want to reap the rewards:
1. Be clear about the skills you need to source, as well as your budget. First, determine the skills your projects need and the level of experience you need from the freelancer(s) you hire. Before you start looking for freelancers to get on board, get your budget in order. How much are you willing to spend on a freelancer’s expertise? How long is your project likely to run? You may think you always want to use the best of the best, but top freelancers are very expensive, and there may be projects where you only need a designer with, say, five years of experience instead of 15.
2. Know how to find the best freelancers for your requirements. Many companies use the same list of trusted freelancers for regular contracts, but when a new project takes your team out of its comfort zone, it can be harder to know where to find who you need without spending a lot of money on recruiting. You can research online freelance management tools and assess which ones are the best fit for your business. (Full disclosure: My company offers these tools, as do others.) When doing your research, make sure the platform you choose checks its freelancers and can verify their details. In addition, check out ratings and reviews from previous customers.
3. Make sure you’re set up to manage freelancers effectively. Before making your first hire, make sure your company is prepared to hire freelancers. This means you need to have a clear policy for informing freelancers about the work they will be doing, as well as agreeing deadlines and rates. It is also essential that your HR team has processes in place for hiring freelancers, especially to determine whether the freelancers will be classified as fully independent contractors (eg. IR35 in the UK or 1099 in the US) or have employment rights (for example, within IR35 in the UK or W2 in the US). This way it is clear to both parties what will be paid when rates are agreed.
With these basics, you’ll be well-prepared to harness the power of the global freelance talent pool — and freelancers will likely appreciate your organization, too.
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