oDesk Announces New Fixed-Price Contracts
For many oDesk employers, news of an escrow-like payment process for fixed-price jobs would come…
You’ve likely been invited to BYOB to an event or two this year. But have you ever considered BYOF?
Upwork, the freelance hiring hub, has recently introduced a program that allows you to BYOF or “bring your own freelancer” to the site. The prevailing thought is that it’s much simpler to manage your freelancers through one platform rather than dealing with all of the extra work that comes with using different systems.
In this post, we’ll explore the BYOF feature and take a look at the reasons you may (or may) not want to consider it for your business.
Upwork has developed a page that provides a step by step guide to inviting a freelancer to join your team on Upwork. Simply input your freelancer’s name and email address, add contract information, propose a rate of pay, and include your own personalized message. Upon submitting the form, your freelancer will receive an invite via email.
Upwork’s platform includes several tools that are designed to save you and your freelancers time. By managing and paying all of your freelancers through the same system, you can save a lot of headaches. You won’t be required to issue 1099s, as freelancers are responsible for getting their own tax information from Upwork at tax time. If you’re working on collaborative projects, it’s helpful to have your team in one place for easier communicating and connections.
From a freelancer’s perspective, Upwork removes a lot of the hassle associated with pay. Your freelancer can rely on getting paid by a certain date rather than having to send invoices or reminders. The Upwork time tracking system also removes a lot of the busy work and clunky spreadsheet systems associated with tracking hours. Upwork does it all automatically when the freelancer signs into the system.
Switching to Upwork means your contractors will automatically be charged 10% of their hourly rate by the platform. This means you will need to raise their gross pay in order for them to continue making the same amount of money. Depending on how busy you are and how much you trust your freelancers, setting a limit on the number of hours available each week could slow things down for your business in the beginning of the process. However, this is also a great opportunity to really take a look at your business and the amount of time devoted to the tasks your freelancers are working on.
Switching to a new system is always a bit of an adjustment, but moving to Upwork could ultimately streamline your business and even bring your freelancers more work from other clients. If you’re ready to move your freelancers to Upwork, click here for the BYOF page.
Need a little more information about hiring and recruiting freelancers? Click here for free resources from the Executive in Sweatpants archives.