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As business processes change, executives and entrepreneurs are increasingly turning to an on-demand workforce that is simultaneously empowered by technology and interested in purpose-driven projects.
Consider Upwork, whose 2020 Future of Workforce Pulse Report shows that nearly 80% of hiring managers who hire freelancers are confident in doing so. These new hires provide the sought-after expertise—on a project-by-project basis—that entrepreneurs need to scale their operations without incurring long-term overhead costs.
This new market paradigm also promotes dynamism: 79% of companies agree that freelance talent enables greater innovation. Perhaps most tellingly, 84% of HR managers who use it feel more confident in adapting to future disruptions, compared to just 69% of those who rely solely on full-time employees.
By leveraging freelance marketplaces, entrepreneurs can strengthen employer branding, expand their skills, and future-proof organizations even in turbulent times. With nearly 60% of HR managers planning to work more with freelancers in the next two years, now is the time for leaders to realize their inherent potential.
Related: Navigating the Big Shift: Why Your Employer Brand Matters When Recruiting Talent
The job market continues to change
After a season of massive hiring, we are once again faced with layoffs and downsizing. Companies are feeling the bloat – from unused office space with rising rents to oversized workforce structures – and are shifting their focus to filling only the most necessary positions. This creates a critical talent gap needed for complex projects and specialized tasks. Highly qualified and specialized independents can fill this gap.
A few key benefits of including them:
• Access to niche experts: Platforms like Toptal and Guru provide access to elite professionals from leading Fortune 500 companies and innovative startups. Whether a machine learning specialist, a growth strategist, or a financial modeler is needed, entrepreneurs can now assemble on-demand teams with specialized skills so they can focus their investments on projects with the highest strategic value.
• Increased agility: Leading companies are increasingly “renting” skills by hiring freelance experts for initiatives related to new technologies or entering unfamiliar markets. With niche employees available to fill knowledge gaps, owners can explore ideas that once seemed unrealistic due to internal constraints – unlocking ingenuity and first-mover advantages.
• Stronger employment brand: The mix of full-time employees and project-based freelancers signals a commitment to modernization and work-life balance. By offering both dedicated work and flexibility, you can attract exceptional candidates and compete with corporate giants for top talent.
Related: Can Retirees Succeed in the Gig Economy? Navigating a changing workforce
Tips for leveraging gig talent
After examining the forces transforming work, executives may wonder how to use freelance platforms effectively. After all, how can you be sure you're getting your money's worth when an employee isn't there full-time?
• Clearly define projects: Contract settings thrive when expectations and deadlines are set in advance. So it's clearly about detailed requirements in terms of results, success metrics, required skills and planned time investments. Staying one step ahead with communication and expectations can help you avoid headaches and delays.
• Build loyalty with talent: The best independent professionals have options in the projects they take on. Study their profiles to identify passions and incentives. Offer interesting work, flexibility and strong communication to generate interest and improve results.
• Manage collaboration: Provide robust context, feedback, and guidance at every project phase, but also encourage autonomy even as you align your efforts toward strategic goals. A dynamic balance of these properties leads to optimal results.
• Further expand your talent pool: Add proven freelancers to an internal database for repeat engagements and notify talent of new initiatives where their expertise would provide an advantage. By discovering additional opportunities, freelancers can improve business and deepen relationships.
Related: Fill your talent gap by attracting candidates from the veteran community
Top platforms to connect with talent
Now comes the hard part: finding contractors who have partial skills. Of course there are more and more platforms, but I've found the following to stand out as the frontrunners:
Fiverr: Ideal for executives looking for design, digital marketing, writing, video, and management support. Known for affordability and ease of job posting. In addition, it draws on a global talent pool.
Upwork: A flexible platform that includes 150+ skills. Used by everyone from small businesses to global corporations. Strong in the areas of IT, development, design, finance and consulting.
Toptal: Focuses exclusively on the top 3% of talent. Best suited for experienced software developers, designers, project managers and financial professionals. All contributors are fully vetted.
Cons: A growing independent platform that screens and connects both applicants and recruiters. Best of all, projects do not require commission.
Related: 3 Strategies to Optimize Your Hiring Process and Find the Best Employees
The numbers speak for themselves: Companies that hire freelancers report increased confidence, competitiveness and the ability to withstand turbulence, but old beliefs can still lead to reluctance among those looking to hire. With the support of these specialized employees, companies can explore new horizons without being burdened by a previously narrow view of staffing models.
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
