February 16, 2022 | 4-minute read (788 words)
For years, the freelance talent pool, often known as the "gig economy," has been expanding. In 2022, 70.4 million individuals are expected to become freelancer workers, according to Statista. By 2028, the number of people who work as freelancers in the U.S. is expected to reach 90.1 million, representing more than half of workers.
It is not a surprise that a rising number of businesses are hiring freelancers. But what exactly do freelancers do? How do you find and evaluate good freelancers? What should you provide them as compensation? What else should you know before entrusting your project and finances to someone you met on the internet? If you're asking yourself these questions, keep reading.
What can freelancers do for your company?
As a basic rule, any job that you can discuss in a 30-minute meeting that doesn't require access to your proprietary systems or any specific licensure and that has a defined completion date might be performed by a freelancer. There are exceptions to these guidelines, but the most successful initiatives are generally short and basic.
The following are common examples of freelancers:
• Web designers
• Specialists in data entry
• Virtual assistants
Some freelancers, such as web designers, work with firms on specific projects. Others, such as virtual assistants, may work with numerous firms on a long-term, continual basis for a few hours each.
How do you go about finding good freelancers?
You may hire a freelancer just like a full-time employee by advertising the work on a job board like LinkedIn. As in a regular employment procedure, you may request a resume and portfolio, conduct interviews and submit an offer letter. This is the most basic method of locating freelancers.
Another excellent technique to uncover freelancing talent is to ask for references. It's possible that one of your friends, family or professional contacts has a go-to freelancer with whom they've had a fantastic experience. They have intimate knowledge of the freelancer's job quality and consistency. It's worth noting that some freelancers charge each customer separately, depending on the scale and intricacy of the job. Your project quote may differ from that of your connection, mainly if your businesses are not the same.
Some companies hire freelancers using sites like Upwork and Fiverr. This might be a suitable alternative for minor projects like a logo design or a blog article. Remember that you won't be able to interview freelancers before submitting your assignment on these platforms. The work on these sites might be hit-or-miss in terms of quality. Look for people who have a lot of positive feedback, rapid responses and a lot of recent work on their portfolios.
How much should you pay a freelancer and how should you pay?
Freelancers establish their own project pricing depending on their skill level and area of expertise. Some freelancers earn by the hour, while others charge a flat amount agreed before the start of the assignment. Businesses that deal with freelancers for recurrent tasks for an extended period of time may even set up a retainer agreement for a certain amount of monthly project hours or completed projects.
Payment rates differ greatly depending on the industry. Web designers, for example, charge $75 per hour on average, whereas web engineers charge $300 or more. Writers charge an average of $30.39 per hour, although skilled, established writers might earn upward of $500 per hour. Freelance photographers might charge around or over $1,500 per hour for big occasions like weddings or business celebrations. When hiring a freelancer, it's a good idea to be upfront about your budget in case your expectations aren't in line with their pricing.
Other things to think about before hiring a freelancer
Before recruiting freelance personnel, it's a good idea to draft a freelance worker contract. You may either use one of the many free contract templates available online or write your own. You'll want to double-check that it includes the project's timetable, cost, a non-disclosure agreement, if required, who will hold the rights to the finished product and that the freelancer is a contract worker, not an employee.
Contracting a freelancer is a straightforward and cost-effective option to overburden your present staff or recruit a new one. You also have the benefit of working with someone who possesses highly specialized expertise, allowing you to get a lot of knowledge for your money in a short period of time. Working with freelance talent also enables your company to swiftly shift course or scale down without laying off traditional staff. It is a perfect opportunity to try out a freelancing project for your company now that the freelance talent pool is more significant than ever.