What Your Business Needs to Know About the Gig Economy
The gig economy has created nothing short of a
revolution, one that continues to redefine key aspects of businesses growth,
planning and organization. Access to a scalable workforce that can be more
easily adapted to meet the needs and demands of each specific project or
situation helps to reduce overhead and can provide businesses with the greater
agility needed to remain competitive in today’s marketplace. Learning more
about the many ways a freelance workforce may be of benefit ensures that
businesses will be better able to leverage all that the gig economy has to offer.
1. Maintaining a Smaller Staff
The expenses of hiring and maintaining a large
staff can place considerable strain on a business’s financial resource. The gig
economy can provide a more flexible and cost-effective alternative, one that
allows businesses to make due with a smaller staff in order to minimize their
overhead costs and operational expenses. Hiring a freelancer rather than
creating a new full-time position can be an especially attractive option for
smaller businesses who are working with a more limited budget.
2. Access to Critical Skills and Expertise
Even the most versatile permanent workforce
can only draw upon a finite number of skills or range of experiences. The gig
economy can allow your business to seek out the specific skills and expertise
needed to complete a project, resolve an issue or to better capitalize on a
potential opportunity. Freelancing solutions provide access to skilled workers
without having to organize or manage a formal hiring process.
3. Assistance with Time-sensitive Projects
Lacking the skills or raw manpower that may be
required to finish a project on deadline can be a serious liability. The
scalable nature of the gig economy means that dealing with deadlines and
time-sensitive projects or issues may be done with far greater ease. Seeking
freelance help ensures that businesses are able to pursue a wider range of
opportunities than they might have been able to manage when relying solely upon
the abilities of their in-house staff.
4. Eliminating the Need for a Hiring Process
From marketing and promotional efforts to the
delays involved in screening applicants and onboarding new employees, a
conventional hiring process can often be an expensive, cumbersome and lengthy
undertaking. Choosing to rely on the gig economy rather than hiring a new
associate can lower overhead costs and help to minimize delays, allowing work
to begin on a critical job or project within a matter of days or hours rather
than weeks. For businesses who are under deadline, the greater ease and
flexibility afforded by freelance labor solutions can often make all the
difference.
5. Superior Results
Results are important and poor-quality work
can tarnish a business’s brand, damage its reputation or sour relations with a
customer or client. The gig economy is a meritocracy, and freelance
professionals who fail to perform or to meet expectations rarely last long.
Businesses are also able to draw upon a workforce without having to make a
long-term commitment. In the event that a specific worker or professional fails
to perform or proves to be less than an ideal fit for a specific job or
project, remedying the situation can be done with far greater ease.
From finding extra help to complete a project
or to better handle the demands of their busy season to minimizing staffing
costs in order to trim overhead, the gig economy can have many advantages.
Freelance labor solutions often play a major role in optimizing the growth of a new startup, venture or a small
business. Being able to draw upon the specific skills and expertise of a
dedicated professional in order to deal with a specific job, project or
situation may also be of benefit. The superior agility of a freelance workforce
and the scalable nature of the gig economy are having a tremendous impact on
the business world, one that companies both large and small can no longer
afford to ignore.
