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T he concept of “gig economy” dates back to 1915. Its inception in the Indian market gave way to people moving from full time employment to freelancing and preferring self employment for a better work-life balance. From the recent statistics, it was found that about 10 million of the total Indian workforce is engaged in freelancing, contributing significantly to national GDP. With the prevailing economic conditions due to Covid-19 and companies cutting down on employment, there has been a sudden surge in the opportunities for short-term work and projects. Organizations are moving from full term employees to these freelancers to cut down on their expenditures.

As we move from essays to snippets, so we move from full term employment to short term stints.

But every good thing comes at a cost. Although outsourcing freelancers seems to be appealing, are they the best choice for your company? What if you could get working professionals and industry experts onboard to work on your projects? Here are a couple of thoughts you might like to ponder upon before making a choice:

Freelancers are independent entities- they work in accordance with their ease and are not answerable to anyone. If they come across a client with a better project and a fatter pay-cheque- whoosh! They may disappear immediately reducing your investments to dust. However, onboarding a working professional from a different company eliminates this possibility. I mean, let’s face it, you as a head would definitely not let your employee scuttle away midway only to be held responsible for it yourself.

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Work ethics
Freelancers often work virtually, lurking on the shade of isolation. Hence working with a team might get frustrating for them which can hamper the success of your projects. On the other hand, working professionals have good communication skills and proper work ethics.

Time Management
Majority of freelancers juggle multiple projects at a time – only 13% rely on a single project. This might compel you to have meetings at odd hours and under satisfactory results.

A freelancer’s portfolio is a product of his aspirations and achievements and not failures. It showcases only the best without authentic verification. However, getting into contracts with other firms to utilize their talent not only makes you aware of the employee’s successes but of his shortcomings too.

Cost Aspects
Lending out projects as gig work helps companies to cut down expenditures. But hiring a freelancer is a costly affair–in terms of money, time and efforts one has to invest. Combing through resumes and portfolios, interviewing and negotiating and one wrong choice you make and you suffer for months. However leasing out these projects to employees from other firms assures quality, guarantee as well as lower costs.
Wondering how to onboard these working professionals? Fret not my friend, because we’ve got you covered!

So the next time you find yourself in need of a gig worker, hold up, give it a thought and head straight away to Sign Up button above. Because your firm deserves more than a freelancer.

  • By Muskan Gupta - CMO
  • July 14th, 2020