Over the past decade, freelance work has seen tremendous growth and it’s expected to grow even further. Numerous sources indicate that by 2030, about 80% of the workforce in the world would be freelancers. These numbers clearly indicate the importance of freelance work which used to be thought of as extra jobs and side gigs in the past. Nowadays, more and more people are looking towards freelance work as a major source of employment.
Entrepreneurs who wish to take advantage of freelance platforms have found greater success because there are so many different options available to them. The highly interconnected nature of the world today has made the concept of standard 9-to-5 office work obsolete. This is a development which has worked in favor of freelance work. One of the main reasons behind the growth of freelance work has been the sophistication and emergence of freelance platforms.
The biggest freelancer platforms have made a difference for employers and workers equally. A report by Upwork showed that around 80% of big corporations are going to hire more freelancers. It also indicated that there was a 30% increase in the completion of projects through these platforms. You’ll be surprised to learn that freelance platforms aren’t only used by small businesses. A report from Accenture stated that around 100 Fortune 500 companies were using Upwork.
Freelance work is also increasing in popularity as more people are finding it convenient and profitable. This means that entrepreneurs can find more talent out there. So, what advantages are there for entrepreneurs who are using freelancing websites. Here are some of them:
One of the main benefits that entrepreneurs can acquire from freelance platforms is the ability to access a talent pool of freelancers from all over the world. All they need to do is post a detailed and professional job post and they can attract thousands of applications from freelancers that are qualified.
Nowadays, millennials don’t want to work the standard 9-to-5 work hour shifts. They crave freedom, so they can work at their own pace and have a good balance between their personal and professional lives. A lot of millennials want to have more time for their interests, so they can live meaningful and fulfilling lives. Freelance platforms work in their favor as they allow them to work at their own pace, so they have enough time for their other activities and interests.
Entrepreneurs can save a lot of money in the long run as they don’t need to hire full-time workers. They don’t need to pay for office space or provide a fixed salary and perks to their employees. This makes freelancers a cost-effective option for them. So, at a fraction of the cost, they can get the same amount of work done by freelancers.
Entrepreneurs hire talent using contracts which end once the work has been completed. If a freelancer doesn’t submit great quality work, you can terminate their services without dealing with the problems that come with firing full-time employees.