The gig economy is changing the way we work. The proof? Companies are spending less on full-time employees and more on temporary freelancers or consultants, which offers a level of precision and flexibility that might not be possible with a full-time-only approach.
The coming age of increased freelancing is an exciting one for business owners as it permits them to operate efficiently, creatively, and above all else, just as quickly — without the constraints of making a full-time hire.
These are all great reasons. But there are even more important reasons why you should consider hiring gig economy workers.
1. Hiring Gig Economy Workers Saves You Time and Money
The hiring process for full-time employees is involved, to say the least. It requires exponentially more time and effort on your part.
First, it can take several weeks or even months to find the candidate that is best suited for a permanent position. This is especially true when the role is heavily based on personality and culture fit. This means devoting precious time to interviewing candidates, evaluating options, and then finally making a decision. This can be especially problematic for smaller companies that have more immediate concerns than searching for new employees.
But when your organization hires a gig economy worker or consultant, the hiring process is much simpler — they’re either available and interested in the job immediately, or they’re not.
The gig economy is all about speed and efficiency. If you hire a consultant, you’ll be able to fill positions faster than if you had to find and interview full-time candidates through multiple rounds.
2. Access to a Larger Talent Pool
When your organization hires from the gig economy, you can access a much larger talent pool. While you may ultimately be limited by budget, there are a lot more readily-available consultants out there than there are readily-available full-time employees—and with the remote work revolution, there’s never been a better time to consider this as a viable option.
In a time where organizations are so hard-pressed for talent, broadening your horizons for talent can make all the difference. Considering a temporary employee or consultant to see a project through from start to finish can keep your business moving forward where others may stall as they fixate on a full-time hire.
3. Bring in Talent Only When Needed
One of the best benefits of using gig economy workers or consultants is that they’re immediately available, and you don’t have a permanent commitment to them. This gives you a lot of flexibility, particularly if the workload is uncertain. If you don’t have enough work to warrant keeping a consultant on, you can simply end the assignment without the lengthy process (and possible liability) of terminating a full-time employee.
The ability to supplement your workforce with precision is critical. It allows your organization to hire “on-demand” and fluidly manage the workflow of your organization.
This flexibility can be a huge advantage considering the oftentimes unpredictable needs of your business.
4. Less Maintenance, Less Stress
Full-time employees also means full-time care from a management perspective. From career development to facilitating everyday frustrations, the time and care necessary to retain full-time talent is considerably higher than what is necessary for consultants.
While this doesn’t mean you have a license to place unreasonable demands or expectations on gig economy workers – consultants deserve both consideration and respect – they are far more flexible than long-term employees.
In many cases, gig economy workers don’t care about long-term employment satisfaction. Many workers are clear on what it means to be a temporary employee, and that fits with their lifestyle. As such, attrition is less of an issue you need to worry about.
You just need to make sure that, while they’re your employee, they’re happy, on-boarded appropriately, and well-paid for their services. This frees up your full-time team members to work on higher-impact tasks or longer-term objectives instead of fretting over an overbooked daily schedule.
Hire Top Talent For Your Accounting & Finance Teams When You Need It
At BVOH, we know your business may call for immediate or temporary talent augmentation. No matter your needs, we’ll partner closely with you to help you hire the right talent you need with confidence. Contact us today to discover a new way of working with top accounting and financial experts that is easier, requires less work, and can help to grow your business in new and unexpected ways.
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