You probably have heard the term freelancing or outsourcing or our transition into a gig economy. We are indeed ushering into a new era where services will be provided on-demand as we leave the traditional full-time job model behind us. Businesses have started harnessing the power of an on-demand workforce to scale up faster. To build a sustainable model for the future, a business must leverage this growing resource to build cohesive teams. Efficiency would increase by leveraging a worker’s top skillset and speeding up the turnover cycle fostering growth.
A start-up that doesn’t have the infrastructure in place to support growth can hire a freelance workforce to achieve its short-term goals. This approach can buy time to make better long-term decisions and earning immediate revenue that can be used to fund expansion later.
Whenever work is outsourced, specific goals need to be communicated clearly. If a company were to hire an on-demand sales workforce, it needs to determine the role of the sales force, the size of the sales force, their degree of sales force specialization, and how to apportion its efforts among different customers, products, and activities. Determining these critical variables will be the key factor affecting the companies’ revenue, costs, and profits.
Companies should track performance closely and quickly terminate agreements with agents that don’t perform well.
Besides cutting costs by saving on infrastructure, equipment, training, and benefit programs can allow the company to adjust selling prices in a lucrative way to boost sales and revenue. However, a rushed misstep can erase all profits which is why it is crucial to have the right tools for monitoring the freelancers and holding them accountable.
While expanding to new markets and targeting a new sales base, companies with an inflexible workforce may crumble. When companies identify profitable high-volume activities that are directly linked to customer acquisition or sales, waiting on the traditional hiring process can result in a significant loss in revenue and sales. By connecting with several independent free agents who are immediately available to start working and a platform designed to meet your needs can help capitalize on such opportunities.
Of course, the traditional full-time employee model is necessary to nurture a high-trust work culture in the long run. Total outsourcing of all activities can prove detrimental to the company in the long run as managing a large remote workforce can turn out to be tedious and time-consuming without having proper systems of communication and management, So the companies that manage to achieve a blend between the traditional workforce and the new age on-demand workforce will be the most successful.
Benefits of resources, timing, and risk mitigation can be leveraged by harnessing the power of an on-demand workforce. Traditional full-time employees also require health care and other benefits whereas hiring independent professionals for specific projects can save up that cost resulting in lower employment costs. Employers can hire niche professionals for a specific term goal without disrupting the normal workflow of regular employees.
A simple assessment can reveal if investment in an on-demand workforce is cost-effective or not as compared to hiring full-time employees. You will need to analyze your current position to see if freelance workers could fulfill your requirement of ramping up the sales revenue. It is evident that there is a wave of talent prepared and eager for more flexible work and the economy is turning towards a gig model as most businesses start to leverage this resource at an unprecedented rate. It would be ignorant to not plug into the gig economy.
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