Affordable Creativity: Experimenting with Freelancers for Fresh Ideas

Introduction

Firms striving to maintain competitiveness in 2024 and beyond are updating their talent approach. Rather than narrowly focusing on increasing full-time staff, savvy businesses are adopting a comprehensive perspective on talent.

From this broader outlook, they recognize that the most effective way to stay competitive and mitigate risk is by engaging more freelancers.

So, what's changing in 2024? Employing freelancers might be the optimal strategy for MMSE businesses to stay ahead.

Why is freelance hiring growing?

MSMEs and even big organizations are turning to freelancers for a whole lot of reasons, including skill shortages in specific areas. Freelancers possessing sought-after skills are required to advance their efforts, meet ever-evolving customer demands, and in today’s modern era, harness generative AI.

Nevertheless, this talent deficit is partly self-inflicted. Many companies are downsizing teams to stretch budgets and reducing headcounts to safeguard profit margins.

While maintaining leaner teams might be prudent, businesses still require skilled individuals to execute tasks vital for competitiveness. This is where proficient freelancers step in.

Through freelancers, companies gain swift access to crucial skill sets on demand.

Rising Freelance Adoption

Here are several reasons why more companies claim they're embracing freelancers.

1. Cost-Efficiency

There are occasions when you need a specific skill set but lack sufficient work to justify hiring a full-time employee. Instead of recruiting someone and assigning tasks outside their expertise—or worse, terminating their employment later—save expenses by engaging a freelancer until demand warrants a full-time hire.

2. Access to Premier, Specialized Talent

The majority of hiring managers (85%) collaborate with freelancers because it's the sole means for teams to leverage specialized expertise. This situation may arise because the company's location or other factors hinder their ability to attract experts on a full-time basis, or the professional is exclusively available on a freelance basis.

3. Swift Deliverables

Another approach to expedite deliverables further is by establishing a workflow aligned with global time zones, as demonstrated by IT support company CompuVision. Since freelancers typically work remotely, CompuVision tripled its output by selecting individuals in specific time zones.

4. AI Expertise

Most companies lack in-house expertise to keep pace with evolving technology. Consider AI, for instance. Recent studies indicate an uptick in hiring due to generative AI. Nearly half (49%) of hiring managers intend to acquire AI skills through freelance talent.

5. Idea Testing

With freelancers, you can swiftly assemble teams to test proof of concepts, allowing full-time employees to focus on high-value projects.

CompuVision, an IT support company, routinely employs freelancers for idea testing. 

Conclusion

So, to sum up, using freelancers is a smart and budget-friendly way to try out fresh ideas. It helps companies save money while still moving forward with innovative projects, leading to growth and success.

Head over to ZoopUp to find a diverse pool of freelance talent.