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Future Tech

The Answer To Improving The Revenue Stream? Gig Economy!

Shirley Higgins
January 23, 2023

Thanks to the gig – or freelance – economy, we are witnessing a revolution in how we work. Traditional workplaces and careers are long gone. The concept of working your way up the ladder in one company is futile. What we’re seeing now is increased flexibility in work and refusal to settle for less too.

Now, this freedom might not be welcomed by businesses that aren’t used to dealing with untethered employees.

Andrea/Pexels | But, even they have come to realize the pros of working with independent talent

A Successful Online Market

The freelance economy is a booming internet industry where self-employed contractors and temporary employees supply their skills as needed. The freelance economy provides several benefits for both contractors and employers on the extremely adept end of the scale, despite the phrase having some negative connotations due to bad press from businesses like Uber and Airbnb and zero-hour contracts.

Businesses now have more flexibility, allowing them to employ the precise expertise they want when the necessity arises. Additionally, there is more freedom for employees since they may select employment that best suits their individual skill sets and work as they choose.

Furthermore, companies don’t have to stress about training, on-the-job learning, or the interim career path when they hire qualified freelancers and interim personnel.

Cottonbro/Pexels | A company can collaborate with highly qualified staff that is already an expert in the field it wants

How To Align Your Hiring Strategy Accordingly

Despite the numerous benefits of joining the thriving gig/freelance economy, shifting gears pose new problems that HR experts must prepare for. With that stated, here are a few things to bear in mind.

Accept Freelancers’ Needs

To recruit and retain experts, keep the following best practices in mind to assist ensure they’ll gladly work with you again:

Accept differences. Create a culture of inclusiveness and diversity to attract talent from all around the world.

Don’t micromanage. Allow contractors to work on their own schedules.

Avoid payment misunderstanding. Nothing ruins freelancer relationships faster than late payment – Use a platform to pay contractors globally on time, every time.

Be a first-rate communicator. Ensure that contractors understand what has to be delivered, when, and what is expected of them. It’s a good idea to provide them with a contact point so they may voice their concerns and queries.

Ron/Pexels | Check in on a frequent basis, provide comments, and create chances for freelancers to contribute

Connect. Contractors may not work in your office every day but still want to feel like they’re a part of your team. Include freelancers in social activities and show interest in freelancers as persons to establish a healthy connection.

New Technology for Workforce Management

To accommodate freelance economy employees, you’ll need a digital stack that allows you to connect with freelancers and monitor their work remotely. This should include video conferencing features as well as a dependable platform for managing onboarding, payments, deadlines, etc. Bubty is one such alternative that allows you to simplify these operations in order to ensure a good collaboration with your freelancing workforce.

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