Know what Freelancing is, what are its trends, Tips for succeeding as a Freelancer, Future of Freelancing, Dos & Don’ts in Freelancing

What are the benefits of Freelancing for Employers? (Potential benefits of Freelancing are where it all starts for hiring managers and entrepreneurs)

1. You can reach out globally insourcing for your Job instead of restraining yourself to your region or country.
2. You can reduce your overall costs drastically as you will only pay for what is done. Any idle work is not paid for.
3. You can avoid costs on training or over research and development as you will be hiring only those who have the necessary skills to complete your tasks.
4. You can achieve cost savings in other areas such as office space, Internet, food, travel, medical allowances and other such costs associated with traditional employment.
5. No long term commitments are agreed with Freelancers, therefore you are free to flexible to direct your organization as per current business requirements and other factors.
6. You can expect a higher level of motivation in the Freelance workers compared to your internal staff, which will directly result in higher productivity.
7. You will be bounded by or have to deal with legal and other employment regulations in the least possible manner.

Benefits of Freelancing for workers? (This is what makes you choose between Freelancing and Traditional employment)

1. You will have higher flexibility.
2. You can achieve higher income potential by working on multiple jobs in parallel.
3. You are not bound by employment regulations with a company.
4. You can always expand your skills by learning new areas and then expand your areas of work as you wish.
5. You can reduce your day-to-day costs by cutting down on travelling, Clothing, Food.
6. You can achieve greater time savings and direct them to more productive work.
7. You are gain higher level of motivation as you will be working on your own skills and also towards enhancing your own work portfolio, which will enable you to land on better projects later.

What is the future of Freelancing? (And what does the research say)

1. People are increasingly opting for work-from-home as this gives them numerous benefits such as reduced cost, greater flexibility, time saving, greater independence, greater exposure to new technologies, better growth prospects.
2. Organizations are increasingly looking for Freelance or outsourced workforce as it gives them several benefits interns or delivery quality, delivery timelines, greater reach, reduced costs and flexibility.
3. More and more technologies and technology providers are supporting remote work.
4. Numerous learning sourcing are not available. Therefore people of all ages (even school students) are now capable of gaining competencies and skills in different areas. This ads up to the available freelance community, making is grow further.

What are the main drivers of Freelancing? (Its always good to know them)

1. The shift in worker perspectives such as wanting more flexibility, increasing their income potential is driving more workers to consider Freelancing either full-time or part-time which in traditional employment.
2. Entrepreneurs and Human resource managers are increasingly considering Freelancing or Outsourcing due to its numerous benefits such as greater access to skills, Reduced cost, Greater flexibility, less burden on Legal or Employment regulations.
3. Advancements in Technology is always supporting Remote working or Freelancing. Advent of 5G with super fast internet speeds, Mobile and Tablets becoming powerful as per Moore’s Law is enabling anyone to work from anywhere. More and more technology companies are introducing video conferencing services.
4. With the adaptation of digital currencies and proliferation of internet based wallets and payment services are reducing any financial and payment barriers for any two parties across geographies to work together.

Regulations governing Freelancing? (Is Freelancing as “Free” as it sounds?)

1. Freelance work platforms such as Projects2Bid have implemented their own regulations in order to protect both Freelancers and Clients.
2. Escrow based money handling systems are implemented which keeps the clients’ money safe until the job is completed to the satisfaction of the client.
3. If Employer requests enhancements and feature additions beyond the initial scope, the platforms always suggest both parties to first discuss and negotiate among themselves so that no disputes can occur.
4. If both Client and Freelancer cannot come to an agreement in resolving any conflicts then either Client or Freelancer or both could file a dispute to the Freelance platform such as Projects2Bid and the platform will intervene by independently communicating with both the parties and try to resolve the dispute in the best possible manner.
5. As at to date lesser laws and legal regulations are governing Freelance work except for the platforms own terms and conditions. This is mainly due to the fact that a Freelance contract is begun with the understanding and consent of both Freelancer and the Client alike and also the Job or Project deliverables and the Budgets along with delivery timelines and milestones are pre-agreed by both parties.

What are the latest Trends that we can see or expect in Freelancing? (How different it will be in the future than it is right now?)

1. Freelancing has evolved over the years and adaptation to freelancing has ever grown among the workforce and employers alike.
2. Freelancing has extended beyond individual workers and forming teams of workers with diverse skills needed for a Job.