Is your business looking to reduce overhead costs by outsourcing via the Internet? If so, your timing couldn’t be better.
If fact, according to a recent CNBC article, the number of highly skilled online workers is growing at an exponential rate. As reported by the Freelancers Union, 1 in 3 Americans – approximately 42 million – are freelancers. That’s one third of the American workforce. This number includes part-time employees and independent contractors, many of whom are using the Internet to work for businesses like yours.
CNBC also reports (as originally pointed out by Career Builder) that 31 percent of employers hired temporary or contract workers in the last half of 2013, 10 percentage points higher than in 2012. In fact, the average business with 50 or more employees that is also hiring online typically spends approximately $52,000/month on freelance services.
With an uncertain economy and rapid advancements in outsourcing technology, it’s little wonder that hiring online workers is a growing phenomenon. In this report, we’ll evaluate the many benefits available to your business and also discuss what your competitors are already doing to capitalize on this growing trend.
Benefits of Outsourcing via the Internet:
- Cost Savings – Since you’re hiring freelance contractors, you’re not hiring employees. You bypass things like paid time off, benefits, insurance, and payroll taxes.
- Better Quality Workers – Gives you the flexibility to hire the candidate who is most qualified for the job and not “settle” for a generalist from your hometown.
- More Visibility in Time Tracking – Higher productivity from workers who are focused on the task at hand.
- Increased Capacity – As your needs grow, you can ramp up your freelancer budget. If times get tight, cut back with just a few clicks. It’s that easy.
- Accessibility to Short-Term or Long-Term Team Members – Hire skilled workers for short or long-term work.
- Get More Stuff Done – Work often gets completed faster because online workers are completing a specific task rather than multi-tasking.
- Collaborate Real-Time – Today’s technology makes virtual work-sharing easier than ever.
Your Competitors Are Already Doing This
According to a recent industry survey of over 3,000 freelancers, businesses spent nearly $50 million dollars hiring freelancers on Elance in the analyzed quarter. Annualized, that’s over $200 million just on Elance alone – not to mention all the other outsourcing marketplaces. In the same year, there were 158,000 clients actively hiring on Elance – 90% of those were small businesses like yours. These number continue to increase. Will your business choose to join this elite, efficient group of businesses?
The report, titled “The State of the Freelance Market”, also discusses the additional intangible benefits of hiring online freelancers. Almost 70% of freelancers are happier freelancing rather than working in a full-time position and 79% feel that they are more productive freelancing. 57% of freelancers saw an increase in earnings and 19% had more than doubled freelance income in the 12 months prior to the survey. 67% expected their freelance earnings to increase in the year ahead.
While the global economy is uncertain, online work is becoming more popular; 42% of freelancers said that they are getting hired for more assignments. 48% of the individuals surveyed rely on freelance work as their sole source of income. 42% of freelancers hold a bachelor’s degree, and 32% do all of their business through an online platform such as Elance or oDesk.
In other words, freelancers who work online are highly skilled, highly motivated, and ready to work for your company.
Web programmers, content writers, administrative assistants, sales representatives, information technology experts, and online marketers can all expect to see continued growth in their areas. Does your company need help with any of these areas?
How To Get Started with Outsourcing (& Cut Costs)
In our virtual world, the future of freelancing is shining bright, offering solutions and flexibility for your company. If you’re ready to begin outsourcing a small or significant part of your business, consider signing up for our training series, titled “How to Outsource Every Aspect of Your Business”. Click the link to get started risk-free today.