The gig economy has become a force to be reckoned with in recent years. Even before the impact of the COVID-19 pandemic, it was growing at a rapid pace. In fact, in 2017 the Bureau of Labor Statistics reported that there were 55 million “gig workers” in the U.S. 

 

Now, thanks to COVID-19, the gig economy has become more important than ever. While it’s often still necessary to hire full-time staff and provide a welcoming, productive, positive workplace, it’s also worth it to look into contractors.

 

So, if you’ve considered hiring freelancers or contractors before but you’ve never pulled the trigger, let’s talk more about how they can benefit your business. 

 

  1. It Saves Time

 

When you hire a new employee, it can be a long and grueling process. Usually, there is a heavy vetting process included. You have to go through resumes, pick out a few of the best, hold interviews, call references, etc. You know the drill. 

 

When you hire a contractor, you can look over their qualifications and often see ratings from other people/businesses who have used their services. Using sites like Fiverr, Snupit or even local job posting sites can help you to select from a pool of freelancers that might be perfect for the work you need to be done. All it takes is a few simple clicks and a few minutes of reading to find the right person. 

 

  1. It Reduces Overhead Costs

 

When you hire from the gig economy, you can save money in several ways. First, you can reduce your overhead because you won’t have to hire as many employees, in-house. It costs about $400 to onboard a new employee. Depending on the job you need someone for, you could end up paying a gig worker less than that, and reduce your in-house expenses all at once!

 

You can also end up making more money by hiring gig workers. Many times, if you give a full-time employee a specific project/task, they might already be overloaded with other things. A gig worker’s main focus is that particular project. So, they can get it done quickly and efficiently, and you can reap the rewards. If you’re happy with the work they did, it’s easy to hire them for future jobs! 

 

  1. Reduced Risks

 

Another area in which you can save money by hiring from the gig economy includes insurance and benefits. Additionally, you’re automatically lowering your risks of accidents in the workplace when you hire a freelancer. Simply put, there is less responsibility for you since most gig workers tend to work from home or a remote office. 

 

Whether you call them freelancers, contractors, or gig workers, hiring from the gig economy is a great way to save time, money, and hire someone with the expertise that fits the project(s) you’re trying to complete. Now is the perfect time to pick from the gig economy, especially if your workplace is starting to ease back into production. If you’ve never given it a try before, you might be surprised at how it can benefit your business and the lasting relationships you can develop.