Over recent years, it has become increasingly common to see people marketing their services on a freelance, interim, or contract basis as the gig economy. This isn’t a ragtag collection of professional wanderers, either; these are workers who are just as polished, proficient, and dedicated as their full-time counterparts but have chosen to opt-out of a more traditional work-life for one reason or another and, more simply, because they can.
One of the many reasons working on a contract basis is more common and more possible now than ever before is because there’s an incredible demand for it from businesses. Below, we’ll shed some light one a few of the major ways in which companies stand to benefit when they choose to hire contractors instead of full-time employees.
Because this tends to be a major reason why anybody does anything, we’ll go ahead and start with it. Simply put, they are fewer costs associated with hiring contractors rather than hiring full-time employees. Simply(er) put, you save money.
While you might have to pay slightly more on a per-hour basis for a freelancer, you typically do not have to pay a dime towards the additional expenses for a full-time employee like benefits, taxes, and social security expenses—all of which quickly compile to far exceed the original base salary. Circumvent those costs by hiring a contractor.
Additionally, overhead costs are lower with contractors. Little training is required for interim workers compared to full-time employees as they are usually already very proficient in the skills for which you’re hiring them(also, even optimistic training costs are often critically underestimated by organizations). Most contractors will also already possess the necessary licenses or certifications for their given role, as well as the typical office supplies (laptop, pens, etc.) as they most likely have spent time working from home.
We all know that, regardless of your specific niche or industry, there are times that are busier than others; a moderately paced fall, followed by a hectic winter, a slower month followed by the busiest month in company history. Workload fluctuations are a natural (even if undesirable) component of all businesses and often your staff can go from underutilized to overutilized with little notice. Situations like these are where contractors can really display their value.
Contractors can be hired quickly and for a specific amount of time to supplement your existing team when deadlines begin to pile up and your staff is pushed to its limit. Business dips back to normal levels? No problem, notify the contractor or contractors “thank you, but that’s all for now,” and let them happily pursue their next opportunity after a job well-done with your business—it’s a nice, clean win-win for both parties.
One of the largest benefits of the growing gig economy is the increased likelihood a business can find a freelancer with a very specific skill set, willing to work for them for a very specific amount of time until they no longer need that specific skill. One more time…specific!
If a special project comes along that you can’t afford to pass up but your current staff doesn’t have the requisite skills to adequately complete it, there’s a solution: hire a contractor. If your growing your business into a new niche or market and need an expert for a specific amount of time while you train and develop your full-time staff, there’s a solution: hire a contractor.
While we are tempted to enumerate them all, there is an endless amount of scenarios where contractors fill a critical need for organizations by temporarily supplying them with a highly specialized skill that they otherwise would have to invest considerable time and resources into developing on their own.
If you’re short on staff and looking for qualified, experienced interim staff, Rite-Hire is the partner for you. Our team of experienced recruiting professionals works with you to learn the precise requirements for all your unique needs before tapping into our expansive network of candidates to supply you with the exact solution you need.