Many companies have laid off or furloughed full-time employees due to economic uncertainty and are now in the position to need to scale back up. The question remains of whether to re-fill those positions with full-time W-2 employees, or create a more hybrid mix of full-time and 1099 contractors. Contractors have the benefit of giving you the flexibility to grow with verified, high skilled talent at the right pace and the right price for your business.
It almost goes without saying: When you are reviewing candidates, you want to see their resumes. The resume is probably the most consistent component in the recruiting process, the only truly universal ingredient across companies and roles of all kinds. Yet despite its ubiquity, the resume is a deeply flawed method of evaluating candidates. At best, it is only a very small piece of the puzzle when it comes to making the right hiring decision.
Greg is CEO of CareerGig, host of the Agile World podcast, and author of The Agile Consumer. The freelance economy is currently contributing $1.2 trillion to the U.S. economy, growing 22% since 2019. This rapid growth was already developing before Covid-19 became widespread,…
We’ve all been affected by the “gig economy” one way or another. This might be through the way we travel (Uber or Lyft), buy our groceries (Instacart) or hire any number of other services. Or, for an increasing number of workers in the United States and around the world, the gig economy may contribute to some or all of their income.
While there is great uncertainty in many industries and in the economy at large, companies of all sizes still need viable plans to maintain strong workforces, whatever the outcomes might be. Because of the many unknowns we’re all dealing with — from how long COVID-19 restrictions may last to any long-term ramifications of the pandemic — it is imperative that organizations maintain increased fluidity in their staffing strategies.
Like a toolbox, having a diverse workforce brings a greater wealth of ideas, approaches and problem-solving capabilities. In my career, I've worked as a consultant to help companies of all sizes — from Fortune 100 corporations to small nonprofits — optimize their employee experience to drive organizational growth.
Freelancers comprise over one-third of the workforce in the United States, and their numbers will continue to grow, reaching a projected 50.9% by 2027, according to the recent Freelancing in America Survey (slide 18). This means that some of the most talented in-house workers will likely make the jump to being contractors, and attracting them to work on your projects and teams will become increasingly important.
Almost any business can benefit from the extra help of freelancers and contractors. Not only do these flexible employees require less overhead (they typically get paid hourly or per project and then are finished once the task is complete), but oftentimes they can be located anywhere in the world, which makes finding the right match easier simply because there’s more talent to choose from.
Hiring used to be one of the most important parts of running a successful business. Hire the right person, and everything goes smoothly. Hire the wrong person, and you quickly regret not choosing someone else. Of course, hiring is still an incredibly critical component of business success. Unfortunately, too many businesses rush the process, especially when it comes to choosing a freelancer to work with.
An increasing number of individuals are choosing to make their money as freelancers, rather than opting for more traditional types of employment. In fact, today it’s estimated that close to 40% of the entire labor force is taking advantage of the “gig” economy by working as a freelancer. For businesses, this poses a huge advantage because it allows for more specialized workers to be brought in for specific projects, rather than having to keep them on payroll year after year. Of course, working with freelancers comes with its own set of problems, including knowing who is the best candidate for the job.