By 2020, more than 40 percent of the American workforce will be freelancers, contractors and temp workers, according to a study conducted by software company Intuit.
This statistic might be a daunting statistic to some employers. Freelancers set their own rates, often hourly. If a project takes more time than planned, working with freelancers can become quite costly. Right?
Wrong. Despite the myths, freelance talent can actually increase your ROI.
Tired and overburdened from doing the job of three, your staff has already left the building, figuring those deadlines can wait until tomorrow. Meanwhile, you’re under intense pressure to get the job done with fewer resources. In a layoff-driven market, rallying the remaining troops to do more with less is a very tough sell.
So how do you control labor costs, maintain productivity, meet deadlines and deliver a solid return on investment (ROI) without further burdening your team?
The answer is a workforce strategy that reflects your company’s peaks and valleys and supports staff with outside help from freelance talent. If managed wisely, this extension of your team can actually increase your ROI if you plan and scale labor to the business cycles when you need them most.