It’s no secret that On-Demand Professionals are on the rise; It’s published on social media, there are ample articles available, and the stats are surrounding us (including the 41% of working Americans who got involved in freelance professional work throughout 2020). However, there’s a reason for this… On-demand professionals come with many advantages for companies. From specialized skill sets, lowered company costs, COVID’s effect on freelance work, and the new generation of workers who desire this freelance lifestyle. Check out Oomple’s top 4 findings for on-demand professionals’ increase in the workforce:
Skill Specialization
On-demand professionals are no strangers to producing quality work in a shorter time frame for clients. This work efficiency is often a result of these professionals being highly specialized in their respective fields. Professionals’ skillsets are ever-evolving, and due to the increasing demand and attractiveness of freelance work- The on-demand market is HOT. Thus, freelance experts must keep expanding or increasing their specializations. In fact, 59% of on-demand professionals have participated in skills training in the last six months in comparison to 36% of permanent workers. That’s a significant difference!
Cost Savings
One of the many well-known (and worth repeating) advantages of hiring on-demand professionals is the lowered costs associated with it. When hiring professionals on a contract, long-term employment costs are eliminated, such as benefits, inclusion to payroll, and even additional office space. The pandemic has highlighted how and where companies can save money while having their employees work from home. However, think of the additional costs saved when you’re not spending time in between meetings managing the on-demand professionals.
“Hiring a full-time employee with 20 years of experience is going to be costly. However, if you hire a freelancer with the same 20 years of experience, you’ll be able to get that specialized help for a specific project.” - Chad Gravallese
Covid’s Impact
Throughout the pandemic, people have gone through a whirlwind of jobs, opportunities, and challenges. Many have turned to freelance work to gain control throughout the ongoing uncertainty since on-demand professionals can take the reins on their work terms and support their income. What does this mean for companies? There’s even more availability and supply of on-demand professionals with specialized skills that can work alongside already established teams. These experts can help you fill talent gaps instead of onboarding new employees. Companies have access to a bigger pool of qualified professionals who are accustomed to working from home and being evaluated on their work.
Attracting Millennials
The 9-5 work life is quite lacklustre for most of the newer generations, including millennials. Millennials are driving freelance and contractual employment growth with a 66% increase since 2008. Those in the generation’s age bracket are changing their attitude towards work and are leading the highest growth rate in the on-demand professional industry. Millennials care more about salary and flexibility – They want work that matters to them. Although generational values differ, Millennials are attached to output work since they care about providing high-quality work.
Compelled to hire an on-demand professional for a project? Head over to Oomple and chat with our Success Team to see how we can help make the process a breeze. We’re here to help, every step of the way.