How can your Business Gain from Gig Economy?

5 Ways your Business can Benefit –

The past decade has seen a surge within the number of gig workers, showing wide economic and demographic shifts and raising concerns around long-term financial security for a growing share of the workforce, according to some experts.

“Gig” workers are folks who work on a contingent basis: meaning consulting, freelance or temporary. Their count has risen dramatically within the past decade. The rise stepped up around 2007 during the worldwide economic downturn, and by many accounts, gig workers now represent a 3rd of the workforce.

What composes the “gig economy” isn’t well-defined but usually includes people like independent contractors and on-call and temp workers.

This new industry has also created new sorts of jobs for people to earn good income. Gig workers include from an Uber driver to project managers, Web Developers and application developers who are influential in digital transformation projects that global companies are investing in.

By hiring gig workers and contractors (fixed term or project-based employees), companies are often more agile within the way they answer customer needs. They are set to bring experts freelancers from India with niche skills on board during the transition period, without having in touch high overheads of a permanent staff. A mingle workforce, if managed well, can give the corporate the launchpad it must stay before its competitors.

While the benefits that freelancers gain are many—including the pliability to figure from home and set their own working hours—the gig business are often incredibly advantageous to business owners also.

Here are the ways your business can enjoy the gig economy –

1. More Workforce Flexibility:

Hiring a full-time or maybe a part-time employee means you’ll need to offer them a group number of hours. Alternatively, hiring freelancers in India offers you the choice of flexible manpower. Whether it’s a small-scale project or a way larger one, you get the precise manpower that you simply need consistent with your requirements. For instance, you’ll hire a freelancer in India to figure on your social media pages over the weekend even when your business is closed. Since remote workers are hospitable flexible work hours, it works out well for both your business and them.

Understanding the freelance economy and aged board with the gig business revolution may be a great alternative to make sure your goals of sustained growth, greater output and increased revenue for your business are achieved.

2. Cost Effective:

A report titled “The way forward for Work is Anywhere – Gig Workforce” by Noble House revealed that 45% of the HR heads hired gig workers to supplement the talents of the prevailing workforce. Interesting to notice was that 39% said they chose gig workers to scale back the value to the firm. Hiring freelancers can help your business hamper its overall spending in various ways.

We all know that office spaces are priced at a supreme. Indian Freelancers are supplied with home offices which will reduce the necessity for office space and utilities. Independent contractors, who are specialists in their field, also require a coffee level of supervision and training, thereby lowering the coaching and development costs. Choosing a gig business strategy further allows you to eliminate costs on benefits like healthcare, retirement, transport and paid leave also.

3. Easier onboarding:

Any company that experiences turnover knows that the onboarding process is often costly and time consuming. Consistent with HR Onboard, a person’s resources consultancy, the annual onboarding costs for a little to medium business that onboard 100 new employees annually , can reach upwards of $40,000. And consistent with e Learning software company Panopto, half all corporate onboarding programs take as long as a month or more.

This is why, according to the KellyOCG report, 36% of companies are bringing gig workers into play. The report found that working with freelancers in India means faster onboarding and a neater thanks to lock in outside resources.

Doing business with remote workers is often an excellent way for companies to undertake prospective employees. And consistent with the KellyOCG report 26% of companies use independent workers to make early relationships with talent rather than browsing the normal hiring process of multiple interviews then possibly being disappointed with a replacement employee’s performance, companies can give assignments to freelancers to measure whether a prospective employee may be a good fit.

4. Reach Specialized Talent:

Freelancers constantly expand their skill sets to stay up with the evolution of the workforce. They have a tendency to be more innovative and receptive to new technology as they accumulate many experiences from using their specialized skill sets to figure with a spread of various businesses. This benefits businesses seeking to rent candidates with niche skills. The 2018 “Future Workforce Report: Hiring Manager Insights on Flexible and Remote Work Trends” highlighted how skills are getting more specialized and thus the way freelancers could fill this gap. As an example, gig workers are an excellent option for businesses seeking specialized skill sets like AI, robotics, data science and block chain.

5. Hire for Individual Projects:

Perhaps the leading cost-efficient strategy to lift gig workers is to recruit them for work on specific, time-sensitive projects. Such projects may lie outside the scope of your in-house staff’s core competencies and would necessitate additional (and costly) training to bring those employees up to hurry.

A freelancer, on the opposite hand, is usually ready and willing to work on a project requiring specialized knowledge — and should have additional insights (based on their experience) that move the project forward more efficiently and economically.

5 Business Advantages of hiring freelancers from India during COVID-19

5 Business Advantages of Versatile Workforce

The rise of digital is transforming the way people work. India has now become the 5th country within the planet for flexi-staffing with US, China, Brazil and Japan closely following. People are seen to gravitate more towards flexible jobs or freelancing in India thanks to the private and professional benefit they’re seeing through these ventures. The pandemic has not appeared to hinder digital growth but has contributed thereto instead. It has created opportunities for organizations to tap into the gig economy and use flexible workforce structures. Moreover, digital has also made working remotely from home possible for several employees, an answer many adopted because the new normal during the pandemic.

The digital workforce revolution has put the working professionals within the driver’s seat. Having grown familiar with this new normal, employees just like the idea of flexibility in their work-life and organizations that refuse to maneuver far away from traditional workplace structures struggle to hire Freelancers with qualified talent who enforce flexible working hours. Businesses find that they can’t lure these potential employees with just attractive salary packages anymore but consent to supply them with programs and benefits and most significantly a piece environment that is conducive to their needs.

However, little do many organizations know that having a versatile workforce can actually benefit them in additional ways than one. While hiring freelancers in India could seem very unusual for those businesses who are wont to a standard workforce structure, here are 5 business advantages of getting a versatile workforce:

#1 SUBSTANTIAL SAVINGS

Full-time employees are usually eligible for benefits and programs alongside a salary package that’s comparatively above that of a part-time employee. Freelancers in India and contract workers also are not eligible for benefits and programs due to the character of their position. Therefore, replacing one full-time employee with a few freelance workers can help in greatly reducing your payroll albeit the 2 workers are paid an equivalent rate. Further, bringing remote workers on board during the pandemic reduces the necessity for travel and logistical allowances that the business may have to hide . Over time, the organization experiences substantial savings as they still add more part timers to their workforce.

#2 INCREASED PRODUCTIVITY

Results of the several job flexibility surveys have shown that job satisfaction ranked low for 1 in every 4 traditional shift workers. On the other hand, over 80% of those working remotely from home expressed great delight in their work lifestyles and stated they felt more productive at home. Employing a versatile workforce, therefore, ensures that organizations receive maximum efficiency from employees who get to settle on hours they’re the foremost productive. When businesses are struggling to remain afloat with their existing manpower, replacing one traditional shift worker with a couple of Indian freelancers also means a rise in highly-skilled manpower. Certainly a win-win for both parties.

#3 REDUCING THE IMPACT OF EMPLOYEE ATTRITION

Organizations tend to lose tons of employees per annul thanks to retirement and competitor poaching. Offering flexible jobs can help retain employees as they’re already working hours convenient to them. In fact, many retired people don’t mind working reduced hours every week to earn some extra cash over their Social Security schemes. The option of flexible working hours also can help new fathers on paternity leave or employees eager to take a sabbatical for study purposes but still want to stay in touch with their skills and experience. These people can make valuable support staff or consultants and help mentor newer employees reducing the impact of employee attrition during this pandemic.

#4 EFFECTIVE TALENT TO POSITION MATCHING

While hiring for brand spanking new temporary positions thanks to maternity leaves, or temporary leave of absence, organizations now needn’t invest in training up existing full-time employees to require over expectations of the new role additionally to their current role. Organizations now have the power to settle on from an ocean of highly-skilled freelancers to hire and effectively match the proper talent to the proper positions. During this pandemic, it’s going to be tempting to extend the salary level of the full-time employee taking over two roles. However, this doesn’t necessarily mean an assured increase in overall productivity. In fact, the worker may feel overloaded and this might affect the corporate adversely within the end of the day. This can be avoided by hiring highly skilled freelancers from India to fill the gap, for a significantly lesser salary than a full-timer ultimately saving the business costs too.

#5 EASY SUCCESSION PLANNING

Succession planning is crucial for those important staff members in key positions or those that have desirable skills. By having a versatile workforce and managing your team of freelancers India effectively, finding replacements for these roles are easier as you now have already got several cross-trained workers up your sleeve who are ready to step into these roles whenever needed. With the uncertainty and health risks encircling the pandemic, a versatile workforce minimizes the danger of the entire business being suffering from the absence of a potentially indispensable employee.

No doubt this pandemic has given rise to many businesses to rethink their human resource management strategies and workforce structures. And now with remote working, businesses and workers have realised the facility of digital tools and resources that enable them to figure from anywhere within the world. Organizations aren’t limited to hiring from just a regional or a national talent pool but a worldwide pool of candidates for roles they’re seeking.

Rockerstop provides a widely collaborative platform enabling businesses to tap into the gig economy as how to utilize their resources. Rockerstop offers a far better way for freelancers to be recognized by large businesses. The platform allows gig workers or freelancers to list their skills, services and projects in their field of experience creating an outsized network of highly-skilled talent that companies can hire from. If you’re looking to maneuver more towards a versatile workforce structure, hire from an ocean of highly-skilled freelancers waiting to encash on exciting project opportunities you’ve got to supply . Further, gain insights, tips and trends for recruiters also as freelancers on our blog as we keep you updated on all things associated with freelance jobs and therefore the gig economy.

How COVID19 & The Rise of Gig Employment impacts the future of business

Rise of Gig Employment

While advancements in technology and communication systems over the years have caused lifestyles and workspace to evolve, the speed at which these technological changes are happening is constant to challenge the way we as individuals and workers adapt. Now with the COVID-19 pandemic, many organizations are witnessing drastic changes in their workplace, initially thought to be temporary, but given the uncertainty of things and the way this pandemic has lasted, it’s like they’ll be here to remain.

It’s safe to mention that the most important change this pandemic has wrung in may be a shift within the workforce structure. People have switched from working in office spaces all their lives to working remotely from home. Remote working has also paved how for an increase in gig employment and gig jobs round the country, a side of the economy that was commonly dismissed for a long period of time.

So with COVID-19 sparking a rise in gig employment, the question that a lot of people are curious to understand is about the impact of the rising gig economy on the longer term of business. How would this affect the future of work? Before we dive in, let’s explore the gig economy and therefore the gig working culture.

Gig Working: What is it?

A gig is nothing but another term for a project then gig workers are hired to supply companies with specialized services required for a neighborhood , or the whole project. Gig working emerged as a way to support the niche pool of sole traders, independent product/service specialists and freelancers who wanted the pliability that short-term work offered along not only the exposure they receive from creative, fast-paced, high-engagement projects but the joys of working with vastly diverse organizations of varied sizes and strengths.

Advantages the gig economy offers-

From a person’s resource perspective, this proves to be a win-win for both parties. Corporate recruiters now have the chance to urge a talent coalition going by selecting specialised professionals to interact with the normal workforce for the proper projects at the proper time. Some of the advantages that gig working offers are:

– Flexibility in terms of work and contracts

– A personalized work-life balance

– Competitive salary packages

– A platform to undertake your hands in multiple skills or maybe upskill yourself

– A platform to simply and rapidly grow your brand/service

The effect of COVID-19 on gig employment –

Remote working was something that a lot of organizations may haven’t foreseen in their work structure during a billion years. However, with employees of the many small and enormous organizations working remotely from home for a short time now, because of COVID-19, has not helped organizations slowly adapt to the present concept as a temporary measure but is now strongly building their confidence around working from home being the plausible “new normal”. When work that was once thought to be wiped out a physical office space, organizations are finding new ways to try to do it remotely.

An increase in remote working has also seen an increase within the creation of several apps, software, video conferencing and collaboration tools opening up many possibilities to seamlessly connect with communities from around the world right in their homes. Organizations have grown to believe that with the proper tools and support, working is feasible from literally anywhere and isn’t limited to a little office cubicle.

The minimal availability or rather awareness of collaboration tools that we now have before the COVID-19 lockdowns may have hindered the organizations’ ability to tap into gig working previously. But now for the gig economy, this highly connected environment that was suddenly born out of an adaptation indirectly forced by the pandemic, it’s a perfect setting for gig employment – an area where freelance work from home jobs and therefore the like can finally thrive.

Technological advancements that have contributed –

Moreover, quickly digitization has managed to change previously disorganized the freelance India and contract working space into a well-connected online community.

When gig jobs were once acquired explanation for word-of-mouth recommendations, nowadays a fast Google look for say “the best freelance jobs” avails you an extended list of internet sites, professional portfolios, online forums, social media pages giving not only organizations the power to settle on from an array of talent for the proper opportunities but gig professionals also to review business, connect with people gig workers for roles that specifically cater to their skills.

It’s safe there to the times when gig employment was come into through applying in response to jobs ads within the newspaper, referrals, and job forums are well behind us. The revolution of the gig ecosystem in this covid 19 has resulted in freelance work from home jobs now being accessible to everyone online.

This trend isn’t just affecting the longer term of labor but the longer term of business as an entire . A shift in dynamics has been providing corporates with a replacement perspective. Their eyes are now opened to ascertain the benefits of getting a versatile workforce.

Thanks to various collaboration tools, companies are finding it easy to use highly skilled professionals who bring high levels of productivity, while saving costs on infrastructure, travel and other allowances. Due to this, organisations are now ready to compensate gig workers with similar benefits and package incentives almost adequate to what a full-time employee would receive.

Gig Employment and the Future of Business-

With the rise of millennials within the workforce alongside technology breaking communication barriers, the worth that hierarchy held in organizations is fading. Organizations are rapidly realising the benefits of placing value on skills instead, over a mark of a “full-time-job”. On the opposite hand, gig workers are embracing this alteration , viewing this as a chance to extend their visibility , try new skills, gain valuable work experience and recognition they desire.

With the way gig employment is tracking within the pandemic, gig workers are seeing this as how to grow and diversify their skill set. By taking over a number of the simplest freelance jobs and sometimes multiple jobs, they see this as “making hay when the sun shines” as against pre-COVID times when freelance work was hard to come by.

It is already no surprise that freelance work from home jobs are getting increasingly popular given the present situation. The trend of recruiters moving toward skill-based hiring over experience-based hiring is merely set to grow from now on. Soon, we will expect to ascertain gig professionals taking over a minimum of half if less than half, of the workforce in a corporation .

In Conclusion –

In conclusion, we will comfortably say that gig working possesses all the possible characteristics of what we will expect the longer term of labor to seem like. With no foreseeable end or a group direction, the independent working concept breaks free from limitations that traditional work structures impose. And maybe that’s why it’s deeming to be the perfect choice for several during this season of uncertainty.

Rockerstop aims to supply a widely collaborative platform where freelancers and clients can close to figure toward a standard goal. If you’re a business, find and hire from a pool of highly-skilled freelancers waiting to figure on exciting projects you’ve got to supply . Freelancers? List your skills, services and projects on this platform only to be recognised by top clients in your field of experience . Gain insights, tips and trends for recruiters also as freelancers here as we keep you updated on all things associated with freelance jobs and therefore the gig economy.

Why hire a freelancer for your business?

Advantages of hire a freelancer

Conventional economy is being redefined today by what economists have dubbed the gig economy. Increasingly, a highly-skilled employee is choosing to opt out of the constraints of corporate life to work on a per-project basis. Highly evolved remote technologies make it possible for this versatile employee to overcome the challenges of space and time zones.

Perhaps one among the highest reasons I tell you why companies hire freelancers is because they’re less expensive than full-time employees. Sometimes, the work that must be filled isn’t routine or it might be a one-time task. For this reason, freelancers can accomplish the work and obtain paid only whenever you would like them.

It’s the time of the freelancer. Even with the challenges facing freelancers like the unpredictability of income and lack of benefits, more and more workers are either abandoning their traditional jobs in favor of a more flexible schedule or keeping the safety of a permanent position while freelancing on the side. With the numbers growing steadily day by day, it is understandable that freelancers would eventually have become the choice of corporations.

Even Now you are wondering whether you should hire a freelancer or go with an in-house resource, we will help you to make a decision. Here are seven vital reasons why you should hire a freelancer:

1. Budget-Friendly

Hiring a freelancer doesn’t require the expense or resources required for training or onboarding. They don’t need sick pay, holiday pay, medical or other benefits. Thus, although pro-rata costs could be slightly higher, freelancers cost less within the end of the day. If the freelancer works remotely, they’d even be ready to save on office supplies and space.

2. Expert on the Subject

An Individual person might not be an expert in everything required from a specific profile. for instance, your company may have to supply videos, maintain blogs, oversee the web site and develop marketing strategies. Finding a candidate who is an ‘expert’ in each of those niches would be extremely difficult. Besides, the candidate might not be required to try to do all of those activities on an ongoing basis. Hiring different freelancers, as and when required, would be far more cost-effective.

3. Save Money

Hiring a freelancer will save your lot of money. Regardless of a contract worker’s hourly rate, it’s imperative to keep in mind that you simply aren’t liable for paying a menagerie of advantages on behalf of your freelance talent. This includes Medicare, Social Security, insurance, retirement benefits, and more.

Also, we all know office space is at high expenses. Freelancers typically are equipped with modern home offices and may work remotely, lowering on office space needed. In addition, supply costs are lowered because contract workers work remotely typically own and utilize their own resources.

Let me evaluate more…Suppose you need a professional writer for a single project. It would not add up to rent a full-time writer, because your writing needs aren’t enough to justify it. Hiring a full-time employee would be much more expensive and a waste of company money. However, a freelancer would fit the project perfectly. The company will use the freelancer’s skills for their projects, pay them then the two entities would part ways.

4. Hire Talent Globally

Opening up your talent pool to the worldwide workforce often makes it easier to rent for specialized roles. International freelancers could also provide the required Expertise to manoeuvre your organization into a far-off market — and offer a high level of skill at a cheaper rate.

5. Project Completion Time

Freelancers are in a rush to complete projects and start next. Some companies are required to complete their business work on an urgent basis. Hiring a freelancer can limit the project completion time.

6. Good Industry Relation

Yet another reason why you need to hire a freelancer in India is that tons of them accompany great networking skills. Networking is critical for a freelancer to survive, especially in specialized fields. Often, they go to be able to introduce you to the who’s who of your industry.

7. More Flexibility

Let’s be honest. Your business needed a yoga lesson. Consumers today want quick answers, so your business hours have to be as flexible as a yogi on muscle relaxers. The perk of a freelancer is that when you’ve shut up buy the day, your social freelancing whizz are often tapping away replies to Facebook messages, answering blog comments and interesting with a community renowned for being night owls!

8. Risk or Hassle Free

Freelancers are basically self-employed; they’re not full-time employees. They don’t have the proper unemployment insurance, and infrequently have the proper compensation benefits. They don’t have the proper to sue for harassment, discrimination, or unfair dismissal. If they’re not the proper fit, they’re easier to sack and replace.

I hope now you will be able to make a quick decision to hire a freelancer to get your business work done. Be in Touch to get more information about how freelancers are helping in the rise of the freelance economy.