It is without a doubt that the Coronavirus has had a massive negative impact on businesses globally since it broke out in 2019. There have been innumerable reports of shutdowns, downsizings, closures and layoffs in the thousands; a phenomenon only comparable to the great recession of 2008. In a bid to stem the financial bleeding, most business owners and entrepreneurs have been forced to look for alternative ways of approaching the job market. The conventional way of hiring and maintaining in-house employees has become too expensive a venture due to the instability of the economy, coupled with the irregularity of the actual tasks to be performed.
Although most job markets have been suffering, Deloitte’s study from April through June 2020 of the hiring patterns of 5 companies showed that there was an exponential surge in the number of on-demand services solicited. Since most businesses are operating in lower capacities, it no longer made any financial sense to maintain a large team of permanent employees who may not even have enough work to do to justify their retention. The study concluded that in a world post-Covid-19, most companies will rely greatly on freelance workers to make their come back.
The gig economy was already on a meteoric rise (Master Card valued it at $204B in 2018) but the emergence of this crisis has set it on an even greater trajectory. Even though there was a bit of a setback in terms of job opportunities for gigsters when the virus first broke out, the subsequent readjustment by businesses has generally brought good tidings for them. Freelance companies such as Ureed.com have registered a record number of new freelancers on their platform in the past few months. In light of this new normal, there has been a shift in the skills that can be leveraged on a freelance basis. Even employees with professional-level skills are offering their services ad hoc, making traditional companies consider the “alternative workforce” to get work done.
If you are still in doubt about how hiring an on-demand workforce can be beneficial to your business in a post-Covid world, here are 5 reasons to convince you:
1. Freelancers are incredibly fast
A quality typical to all freelancers is their ability to deliver results quickly. And as you try to make up for lost time after this health crisis subsides, speed will be essential. This is especially true if you pay your workers on a set wage basis, instead of an hourly basis. This way, they’ll work quickly without dragging their feet unnecessarily and be ready for the next task in record time.
Some tasks in your business may come up out of the blue and relying on your downsized staff in such scenarios may not be feasible. With freelancers you can rest assured knowing that you will have the work done way before the deadline.
2. A freelancer is more flexible than the standard employee
Freelancers are able to take on more tasks because they are incentivized to work hard. Additionally, they aren’t averse to working outside of the normal 9-5 workday. So, if you’re in the market for someone to work longer hours, look no further than a freelancer. Now that digital working tools are commonplace, you can rely on your on-demand hire to work from wherever they are in the world. There’s nothing that a freelancer can’t do with a computer and a strong internet connection.
3. Freelancers and employees are a match made in heaven
The way most businesses are set up can make it impossible to replace your entire permanent workforce with freelancers. But because in the face of this crisis you may have been forced to trim down the number their numbers in your company, you’ll need to hire some part-time workers to take on the increased workload. This is cheaper than relying only on full-time employees, and what’s more, freelancers and employees work perfectly together so it’s a win-win. In the case where you may want to undertake a short-term project but your employees are ill-equipped for it, it wouldn’t be prudent to bring on an expert full time. Leveraging the services of gigsters as your employees concentrate on other tasks will work to your advantage.
4. Freelancers have a wealth of experience
The most agile workforce is comprised heavily of freelancers. Most of them have years of experience under their belt from working for many different companies in varied capacities. They bring so much more to the table than the conventional employee. The quality of their output as a result of this exposure is unparalleled. This is why as you work on mitigating the effects of Coronavirus on your business, their contribution will be indispensable.
5. You have a wide pool to choose from
Since the World Health Organization has advised business people to let their employees work from home, you don’t have to limit your hiring to freelancers within your area, especially if your work can be done digitally. Forbes reports that there are around 56.7 million Americans alone working as freelancers and you can access their services as well as those of countless others from all over the world (and don’t look too far – Ureed.com houses a global pool of over 35K freelancers that you can hire in minutes). Freelancing makes it easy for you to find a hire that will be perfect fit.
Leveraging the services of freelancers as you work to recover your business post-Covid-19 is a tactical move. Their services are of impeccable quality and they are cost-effective compared to permanent employees.
If you don’t know where you can find freelancers, Ureed.com offers over 35K freelancers across 150+ industries, and the largest talent pool in the GCC and beyond. Reach out to Ureed.com and get your business back on track today.