The Secret to High Quality Talent on a Budget
The world is currently experiencing uncertain times with record-breaking weather and high inflation rates, leaving many people questioning what is happening. However, amidst all the changes, there is a silver lining for business owners. The business world is evolving, and old structures are being reinvented, creating new opportunities for growth.
You’ve probably noticed an explosion in freelance and contract workers over the last few years. Techjury released a crazy statistic:
“1.57 billion people in the world are freelancers, which is almost 47% of the global workforce.”
Between 2014 and 2021, the number of freelancers did not change much. But with virtual offices spreading across the globe, business owners saw an opportunity – to bring on more contractors and short-term help. Since the demand for contractors went up, so did the supply creating the record-breaking number of 73.3 million freelancers in the U.S.
So why are businesses bringing on more contract workers, and should you be following suit? Our short (biased answer) is YES! But we will let you decide for yourself by exploring the reason many businesses are switching to contract workers in this article.
Save Money With a Contract Worker
As a business owner, you know employee costs go far beyond their salary. You must pay for health insurance, 401k, vacation, and sick days but not with a contractor. Contractors charge only a monthly fee or hourly rate.
They Use Their Own Equipment
When you hire an employee, you have to provide the equipment to do their job, which often includes a computer, desk, chair, office space, and sometimes a phone. Contract workers come with all the equipment they need to complete their jobs.
Short Term Flexibility
Since contractors already have all the equipment necessary to do their jobs, contractors are often a good alternative for a project outside of your employee’s skill set. For example, you want to create a cinematic video for an upcoming ad campaign. Instead of hiring a team and buying all the equipment, just hire a contractor.
Contractors Are Motivated to Keep Growing On Their Own
Contractors are business owners, and every good business knows that repeat customers are more valuable than new customers. Contractors want to keep their clients happy and will often spend their free time advancing their skills – not on your dime!
Less Micromanaging
Okay, let’s be honest, who benefits from micromanaging? Nobody! With contractors, you give them a task, and they complete it without you having to micro-manage them through the whole process. Delegating can be challenging initially, but we have a delegation package to help you get started.
Save Time With Onboarding
Here’s the cherry on top! When hiring an employee, you have to sort through hundreds of resumes, schedule interviews, and sit through many candidate interviews. However, as of 2023, finding a contractor perfect for your needs with an agency like Trusty Oak is easier than ever. Agencies do rigorous screening to ensure their team’s talent is high quality. Trusty Oak has a VA matching process that assesses your needs and matches you with candidates with the skills you need.
Related: How Smart Leaders Onboard (and Retain) Virtual Assistants
The current uncertain times may be daunting, but it presents an opportunity for business owners to explore new ways of operating. Many businesses have been able to save money, time, and resources while achieving their goals more efficiently. From saving on costs such as health insurance and equipment to benefiting from less micromanaging and more flexibility, contract workers are becoming a preferred option for businesses. With agency companies like Trusty Oak, finding the perfect candidate for your business needs has become easier than ever. So, if you haven’t already considered it, it might be time to start exploring the benefits of hiring contract workers for your business.
