When is outsourcing talent a sound business decision— and why?
Using freelance (or open) talent has become a transparent, technology-enabled, rapid-cycle way of doing business that allows employers to hire based on project needs and focus on unique skills and expertise. Tapping into freelance talent empowers companies to take on previous out-of-reach projects without the fear of a bloated full-time employee roster. However, many companies don’t know if it makes sense for their business to leverage open talent.
Here are some of the most common situations where engaging freelancers is a good move for your business.
1. Your workload is unstable
If you’re running a start-up or a small to mid-sized business, chances are you’ve experienced a fluctuation between hectic work periods and a lull in the workload — the proverbial “feast or famine cycle.” Unpredictable staffing needs further contribute to this issue, like landing a short-term project.
As Forbes points out:
“The problem is that, when the project ends, you won’t have anything else productive for this individual to do.”
However, having a pool of trusted freelancers you can contract anytime to work on short and long-term projects helps your business cut costs and increase profit margins. Freelance talent also opens the door for your business to take on projects that may have been out of reach due to a skills gap on your internal team.
2. You’re concerned about budget
Budget is always a concern when hiring, but it becomes a key differentiator when working with freelancers. Freelancers are budget-friendly. Hiring a freelancer is not the same process or commitment as hiring a full-time employee (FTE). With talent platforms like Communo, the time and energy sourcing candidates are exponentially less. Yes, you need to invest time onboarding freelancers, but there is no long-term commitment, and you can build a bench of talent (another Communo feature that helps companies scale quickly) that compliments your team.
Sound advice from the U.S Small Business Administration is to determine what the actual financial cost of adding a new employee to your payroll means to your business. If it’s higher than you can afford, outsourcing is the answer to hiring specialized talent without the long-term financial commitment.
3. You don’t have a lot of time
Hiring a new employee is time-consuming: interviewing, vetting, paperwork, and training can sometimes take months. Hiring freelancers means less paperwork, allowing freelancers to get to work straight away, and ensuring your company delivers projects on time.
Hiring a freelancer is not the same process or commitment as hiring a full-time employee. With Communo, you can hire top creative candidates significantly faster and have more time to focus on growing your business.
4. You could use a fresh perspective
An outside perspective can be a considerable asset, especially when you are stuck with the same playbook, or when you need the opinion of someone from your target audience.
Perhaps you’ve hit the wall when it comes to creativity? Adding freelancers to your creative team can help provide the freshness, expertise, and relevant advice your business needs. And with the accelerated shift to digitalization, top talent is increasingly moving to the freelancing model. Thanks to new technology and talent platforms, never before has it been as easy to source and work with experts across multiple industries.
Consider the hybrid work approach
There are multiple ways businesses can leverage freelance talent. Both in-sourcing and out-sourcing can have a place in your company. This hybrid work approach, in which you balance your staff with freelancers, creates a happy mix.
Utilizing open talent isn’t just managing freelancers; agencies are also a part of the hybrid work approach businesses can use to deliver high-quality work. Agencies typically have marketing and creative teams with broad expertise and don’t require the management level of a freelancer or even a full-time employee. They have their own internal managers to make sure everything runs smoothly; however, costs are higher. Learn more about when to hire an agency.
Businesses open to a hybrid work approach set themselves up for lower hiring costs, decreased skills gaps, and much-needed new perspectives.
A freelancer for every role
According to Entrepreneur:
“Hiring people who are under-utilized or trying to wear too many hats and not having the right skills, is a recipe for disaster. The best option is to hire freelancers for all those tasks that are one-time or irregular.“
No matter the job, there is a freelancer out there ready to learn more about your project and help you deliver on time and within budget.
- Need help analyzing and modeling data to create an actionable plan? A Data Scientist can help out.
- Need to build technology solutions into creative ideas? A Creative Technologist has the specialization you need.
- Need to hire Marketing, Social Media, SEO, Design, or Writing experts? It’s never been easier to find the perfect candidate.
According to Forbes:
“Hiring through the gig economy should feel like temporarily adding someone to your roster who could easily be a part of your long-term team if you had the ongoing need.”
Communo provides businesses a better way to staff teams and projects, enabling them to fill talent gaps, deliver cost efficiencies and innovate at scale. The question is no longer whether you should use freelancers, but when to get started.
Like everything new, It takes a little bit of setup to build your talent network, but Communo makes everything easy. Whenever you’re ready to grow your business with open talent, we’ve got your back. Contact us at [email protected] to learn more.