Around the financial collapse of 2008, we saw the beginning of a fundamental change to the world of employment. The “gig economy” that emerged is driving more people to freelance and more businesses to hire freelancers. People who lost their jobs in that period set up their own businesses.
Evidence also suggested millennials were beginning to shun the traditional workplace for the same reason; today, as much as 50% of millennials in the US work freelance. It’s clear that what in past generations may have been a stop gap has become a career choice. The gig economy and freelancing are here to stay, and it’s self-sustaining for marketing consultants, content writers, web developers and many more. For the rest of the workplace, this large body of freelancers is a useful resource.
Traditional Employment Market and The Future of Work
As a small business, you have a Human Resource budget. The hiring process is long, arduous and potentially expensive. The salary cost is just one financial aspect – there is also the advertising cost, time out from your working day to examine the resumes and conduct interviews, and eventually when you hire them – salary and benefits. That’s not to mention the office equipment, office space, insurance and so on.
Many recruitment consultants publish regular reports on the future of work and see a growing, vibrant freelancing economy. They increasingly find that small businesses right up to global brands routinely hire:
- Startup Advisors to help businesses get off the ground
- Fractional CMOs to deliver the same services as a regular Chief Marketing Officer
- Marketing Consultants to help us grow and compete with the demands of modern industry and commerce
- Developers to build new products or maintain a website.
Major freelancing website Upwork predicts that by the middle of the 2020s, freelancers will outnumber traditional workplace employment. It’s now not just an alternative, but a wise and cost-effective option for businesses of all sizes.
The Benefits of Working with Freelancers
Most businesses now seeing the benefits of hiring freelance marketing consultants and fractional CMOs to help move their business forward. The growing market for startup advisors demonstrates long-term sustainability too. We’ve already discussed the cost benefits of hiring freelancers, but there are other benefits.
Harness Skills Quickly and Effectively
When hiring a fractional CMO such as The Pony Group, a freelance marketing consultant, startup advisor, web developer or any other type of freelancer, you bypass the traditional hiring method. The cost is lower and the hiring process is faster and more efficient. It’s possible to find and hire a freelancer in a matter of days.
Harness the Experience
The saying goes that experience comes with age. With freelancing, experience comes with diversity. Freelance marketing consultants and fractional CMOs work on anything from one-off projects to ongoing campaigns for a multitude of clients. This provides a wealth of experience that you will rarely find in hiring full-time employees in a conventional way. Often, it also allows you to utilize a specialized workforce, rather than trying to hire a “jack of all trades.”
Scale Up and Scale Down Quickly and Flexibly
Freelancers enjoying this method of work for the freedom and flexibility it offers. These two benefits are also useful to the hiring organization. With a full-time employee, you must sustain the level of work to extract maximum productivity. With freelancers, you can hire and drop at will between projects with no further obligation.
Freelance marketing consultants and fractional CMOs keep up with modern trends and technologies because they must. It’s the only way they can keep up with the standards of our industry and remain competitive in the fast-evolving world of digital marketing. Freelancers will pick up new technologies and utilize them faster than regular employees because it’s essential to their income stream.
Hiring Freelance Fractional CMOs, Marketing Consultants, and Startup Advisors
The first thing you will notice when hiring a freelancer is how the old employee-employer relationship dynamic is no longer suitable. However, they share some similarities. Naturally, you want to carefully choose the right person or people, but your freelancer is more like an affiliate or business partner than an employee. The Pony Group works with clients to deliver the required outcomes no matter your industry.
Vet Your Candidates
Understandably, we hope you hire The Pony Group as your freelance startup advisor, but there is always wisdom in examining your options. Each freelancer has a different skill set based on his or her background, education and experience. Look at their samples and experience and try to work out which is the best fit just as you would when hiring a full-time employee. Each will have drawbacks and advantages. Feel free to send a speculative list of questions to ascertain their suitability.
Fractional CMOs and freelance marketing consultants can only give you the best quote and be honest about their ability to carry out your work following full disclosure. Two-way communication is essential when working with any freelancer, that applies equally to before work starts and to when you experience external problems beyond your control. When a freelancer is clear on what he or she is doing, they can deliver your needs.
Constructive Feedback is Always Welcome
Constructive feedback to a freelancer is essential because it helps them improve. In turn, they can deliver an improved service to clients, including you. Praise, public endorsement and a glowing reference are all great, but helping freelancers improve is the only way they can continue to deliver everything a client needs.
Hire A Freelancer Today
Now that you understand the benefits of marketing consultants, Fractional CMO’s, and freelancer’s, now is the time to find your own. There are a variety of platforms available to hire a freelancer or Fractional CMO like The Pony Group. To better understand the “Gig Economy” that is developing, we strongly recommend the following book:
Aside from acting as your Fractional CMO, The Pony Group can also advise your business on how to utilize freelancers in your organization. Contact us today to learn more.