Freelancer Management System

Top 10 benefits of a freelance marketplace for your business

Top 10 Advantages of Freelance Platforms | YunoJuno
Max Kurton
Max Kurton
June 24, 2022
Reading time
4
minutes

Running a business can be challenging and time-consuming, especially if you're the sole proprietor. You're responsible for making sure your company stays afloat. There are a lot of benefits to hiring freelancers, especially for business owners who want to grow their businesses.

Working with freelancers on projects can help you grow your company by giving you experience in different business areas and broadening your network of potential business partners. Freelancers can be a good fit for most businesses, and that’s why we’re outlining some of the top benefits of utilising a freelance marketplace for your business.

Cost savings

The most obvious benefit of using a freelance marketplace is saving money. You no longer have to hire full-time employees. You will not have to personally pay for their benefits or salaries on a recurring yearly basis when a project might only be relevant for a certain amount of time. You can hire freelancers who are already skilled in the areas where your business needs help.

Access to specialised talent

Another benefit of using a freelance marketplace is gaining access to specialised talent that you would otherwise not find. For example, suppose your launching a new project and need help with a structured marketing plan but do not have the ability to hire a full-time marketer. You could search on a freelance marketplace and find someone specialising in marketing who has experience working with a company like yours.

High-quality work

If you find yourself having trouble with an employee, there can sometimes be a conflict between them and other team members. However, with a freelancer, you should be able to get straight down to business without worrying about things like office politics or personal friendships getting in the way of productivity. This means that they are more likely to be committed solely to doing what they do best: matching the brief and delivering on your project.

Faster Deliverables

You can get work done faster than hiring full-time employees when you hire freelancers. Freelancers are often more motivated due to project deadlines and the diversity of projects. If an employee works for four hours without progress, the task is handed off to another person or team. With a freelance marketplace, you will only pay for the time spent working on your project.

Old rule (2021 Independent Contractor Rule)New Rule (Effective March 11, 2024)
Basis of classificationRelied on a simpler, more straightforward approach that may not fully capture the complexity of modern work relationships.Restores a multifactor "economic reality" test that considers a wider range of factors to determine employment status.
Legal consistencyCriticised for deviating from established legal precedent and potentially leading to more misclassifications.Aims to align closely with longstanding legal precedent, offering more clarity and consistency in classification decisions.
Impact on workersConcerns were raised that it might make it easier to classify workers as independent contractors, potentially denying them employment benefits.Seeks to reduce the risk of misclassification, ensuring workers who should be classified as employees receive the benefits and protections that they're entitled to receive.
Guidance for employersProvide a simpler framework for employers to classify workers, which could lead to broader interpretations and confusion.Offers detailed guidance through the economic reality test, aiming to provide a clearer path for proper classification and reduce misclassifications.

Company risk reduction

A freelance marketplace can reduce your company's risk by allowing you to manage freelancers individually. You will no longer have to rely on one person for all of your work or depend on someone else's schedule or availability. Instead, you can hire several freelancers at once, and they can work as independent contractors on different aspects of your business's operations. This gives you more flexibility and control over how projects are completed and when they are met, which means less stress on everyone involved.

Larger talent pool

One of the most significant benefits of using a freelance marketplace is having access to a much larger talent pool. This means that you’ll be able to find the exact person or people who can solve any problem that comes up with your business without worrying about whether or not they’ll be available or if they will fit in with your company’s culture. In addition, this also means that you can work with people from all over the world, so if you need something done in another country and don’t have anyone there to do it, then this could be an option for you.

Ease of finding, hiring, and onboarding

Finding talent on a freelance marketplace is easy. There are thousands of skilled candidates who are ready and able to take on your next project. You simply need to post the job description, review applications, and hire the best candidate for your business needs. Onboarding new employees can be expensive and time-consuming. However, when you use a freelance marketplace, it's much easier than finding someone yourself or hiring someone through a traditional recruiting agency. You don't have to spend time interviewing people or conducting background checks before hiring them.

Increased Skill Diversity

Hiring freelancers through a freelance marketplace gives you access to a much more comprehensive range of candidates than traditional recruitment methods. You'll be able to find people with the exact skill sets you need, wherever they are in the world — no matter how niche they may be — without narrowing your search criteria too much. This means that there will always be someone available who has exactly what you need at any given time.

No long-term commitment

If you're a small business owner, you probably don't have the time to develop a team of in-house employees. Instead, you can hire freelancers from a freelance marketplace when you need them. This is also true for larger organisations that need to quickly fill a hole in their departments to either get projects over the line or be involved from start to finish.  The best part about this is that the freelancer isn't your employee, and you don't have to worry about benefits or payroll taxes — these are all handled by the marketplace.

Tailored deadlines

A freelance marketplace can also save you time by hiring people with expertise in specific fields without having to take on full-time employees. For example, if your business needs someone who knows how to build an e-commerce site from scratch, it would be cheaper and more flexible to hire someone from a freelancer marketplace than hiring a full-time developer or designer because you can set specific project deadlines, which helps avoid long term delays of full-time workers.

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