Working environments across the world are changing due to the global pandemic we are all facing. Over the last decade, we’ve seen the beginnings of a transition in the workplace and how people work in teams. The workforce was already changing and it’s likely the current crisis will only increase this transformation. Now is not the time for your company to be stuck in the past.
Where once it was the norm for the vast majority of office workers to work together for one company under one roof, young professionals have been choosing to break away from the restrictive, 9 to 5 job in order to work as freelance contractors for multiple employers. This has given contractors the ability to work hours they prefer and on projects, they are passionate about while giving companies greater flexibility.
Freelancing is a trend that’s been occurring all around the developed world. Research conducted by the International Business Times prior to COVID-19 found that almost 33% of the Australian workforce preferred freelance work, however that’s likely to have changed during this crisis with people searching for stability and security. It’s now likely that companies will be looking to build teams using independent contractors as a viable business model. Many companies will opt to hire contractors rather than full-time, salaried staff.
If you are a company, there are many reasons why contractors may be a wise option in the future. If you are an employee it may be time to start considering becoming a specialist contractor.
Specialized talent
Often a freelance contractor will become experienced in a particular aspect of their industry and become extremely good at it. This is known as finding a ‘niche’. It’s been popular in small businesses for many years and now contractors are using the strategy to become industry leaders and command higher fees. Once the contractor has mastered their niche, they’ll charge more money for their service but deliver exceptional results. They’ll likely become more efficient and effective so don’t let their hourly rate scare you. In comparison, when you hire an employee, you’ll usually look for someone who is an all-rounder. This means that they’ll deliver satisfactory work for a number of different tasks however it’s unlikely to match the quality of a specialist in their chosen field.
Cost-effective
This may sound counter-intuitive at first however specialist contractors will save you money. Companies who previously have employed staff often have concerns that hiring contractors for specific tasks will prove to be more expensive, however, this isn’t usually the case. You’ll probably find that hiring freelance contractors can be more cost-effective. Yes, you may pay a much higher hourly rate for a remote support team of specialists, however, they are likely to be more efficient and you’re only paying for productive hours.
Hiring contractors were once considered inefficient for office-bound workers. Now in this digital age, it’s become an effective alternative for many employers and employees because contractors can work independently when required and in the safety and security of their home.
When hiring an employee, you are committed to paying their wages each month no matter whether or not you need their services. In the current crisis, this has become a huge challenge for many companies. On top of this, you’ll pay more to provide a workspace, healthcare, training, and management to your employees. As a company, it’s more cost-effective to have flexible working arrangements with a number of specialist contractors than supporting a team of employees.
Frees up management’s time
One of the biggest drains of a companies time and resources is overseeing its staff. When you have a team working in-house you’ll find that they need advice and support often. You’re likely to schedule one-to-one meetings with your team members to ensure everything’s running smoothly and manage personalities and conflicts. These hours can soon add up to days of lost productivity. If you hire the right specialist contractors, they are the experts so you can entrust them to be self-motivated and get the job done. This greatly frees up management time that can be put to better use handling other responsibilities.
Less likely to have staff problems
When you have a large group of people working together in close proximity, such as an office, you’re likely to find that some of your staff just do not get along. This can create an uncomfortable work environment and can cause many issues, not only for those involves but also coworkers who get dragged into the issues. When working with contractors, this problem is negated because your team will work remotely and independently from home. As a company, their problems don’t become yours.
More dedicated and enthusiastic
It’s common for employees to become complacent in their roles and for productivity to slip. This happens every day at companies across the world. Specialist contractors tend to be more motivated and dedicated to their work, which makes them more productive. Contractors pick and choose work that interests them and works in short bursts for individual clients. This means that they are focused, energetic and will likely complete the task much quicker and to a higher standard than an in-house employee would. If they don’t they realize their livelihood is at stake so it creates a win/win for contractors to be high performing service providers.
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