The number of freelance workers in the US has been on a rapid increase the last few years; as of 2017 there are over 53 million freelance workers in the US alone, just over 34% of the workforce. By 2020 The Plato Group expects the percentage of freelancers in the workforce to rise to 50%. As more and more millennials graduate and enter the workforce they are finding that the typical 9-5 jobs are not suited for them, many are looking for a type of job they can specialize in. Instead of the traditional way of hiring an employee, where you find someone who will work hard and learn to do a multitude of jobs you can find someone who specializes in one particular area of expertise. Many businesses have been switching to a more freelance workforce for just this reason. You can find a freelancer to fill nearly any position, from professional speakers for events to web developers, the options are nearly endless.
Freelance workers are becoming increasingly common in both large and small organizations. Smaller businesses greatly benefit in hiring a freelancer; if you are still trying to turn a profit you may be trying to do everything yourself and after months of this you will begin wearing yourself out. You can find a freelancer who can help you with almost any job; if something is just too time consuming or is too large of a project for you to undertake while still trying to run your business, then a freelancer is a great option for you. Freelancers, also commonly known as independent contractors, will work for you on a designated project and once it is complete they are done. This will prevent you from having to pay a standard employee when business is slow and there is excess down time.
You will have a greater pool of applicants if you choose to hire a freelancer; if you are able to have your freelancer work remotely you can have an employee virtually anywhere in the world. You will not have to be constrained to local candidates, but can instead find the best candidate worldwide. After you have made your decision you, and the freelancer has accepted the request, the hiring process is much simpler. You may have to submit some of the payment before hand, but typically you will be sent an invoice for the service provided and then you are done. There does not have to be any lengthy background check, gathering of personal information or other common formalities that you need to go through when hiring a traditional employee.
Financially, using a freelancer is much easier on the wallet than hiring a traditional employee. Because a freelancer is not a traditional employee you will not have to withhold taxes; a freelancer must keep track of his or her own invoices and income to file their own taxes at tax season. Freelancers are also not required to be covered under your workers compensation insurance. If you and the freelancer you decide to hire end up having a good working relationship chances are he or she will be willing to work with you again on future projects.
Hiring a freelancer is a great opportunity for any business, especially if you are planning on bootstrapping for the first few years. The rise in technology today is making the way we hire traditional employees obsolete, and as statistics show, freelance work will be becoming more and more prominent in the years to come.
- with all the projects you are taking on.
- Are you organized?: As a freelancer you are most likely going to have more than one client at a time. You need to be organized, have a way to keep all of your different pr
- Can you work alone?: When you finally decide to make the switch from a 9-5 employee to a full-time freelancer you are going to realize that you are alone a lot more than you were at your full time job. If you are the kind of person who thrives on interacting with people then you will need to make sure that you get out and interact with people, whether it be socially or professionally.
Once you have decided that you are capable of moving on from your 9-5 job and believe you can make it as a freelancer you will find that the hard work is just beginning. This article is not here to dissuade you, but rather to prepare you; the life of a freelancer can get tough. Freelancing is not for everyone, some people thrive in a more structured environment, and that is not a bad thing in and of itself. Though it is a lot of hard work freelancing is fun! You have so much more freedom than you do at your typical office job, and while that can be a detriment to people who are not taking freelancing as serious as they should, with hard work and perseverance and careful attention to budgeting and detail you can and will make it.