The freelance or ‘gig economy’ has continued to gather steam, with more and more workers ditching the traditional corporate 9-5 to move into self-employment. This boom is driving companies to new business models and leaving recruitment agencies to adapt to the challenges they present. What does this mean for your business? And what should you do to stay competitive?
The obvious net effect of the thriving freelance economy is a result of less labour, however, ultimately among companies, labour will be more “fluid”, meaning the traditional recruitment model will be challenged. According to Forbes “47% of hiring managers have been more likely to hire independent professionals since the COVID-19 crisis.”
In a hyper-speed labour market, recruitment agencies give companies a competitive edge in order to hire and retain stellar talent, during a time when so many are going it alone. So, what gives recruitment agencies the edge in recruiting during this period?
An Understanding of Freelance
While the freelancer employment model is flexible, they’re often marketing themselves to employers on a consistent basis in order to ensure a stable workflow, which can be a physical and mental challenge. Add this to the strain of legal and compliance obligations that the self-employed have to manage. Recruitment agencies can offer expertise in labour laws and compliance, whilst also offering a strong network of clients who can seek a recruitment agency’s career advice when it comes to hiring self-employed professionals, and weighing up the options between freelancers, full time employees or temp roles and positions to fill gaps. This comprehensive understanding of the market allows recruitment agencies to recommend the right approach for your unique needs.
A Unique Range of Services and Opportunities
Recruitment agencies have a huge advantage with their established professional candidate and employer relationships. Application tracking systems help identify professionals who have an adequate skill set and experience. Agencies also have services that ensure potential candidates match their client’s work culture and ethics.
Recruitment agencies can offer contractor and temp onboarding services that are personal and catered to all parties’ needs, meaning if you’re bringing a freelancer on board, they can help ease the process or suggest an alternative with their extensive candidate network that may be more suitable for your requirements.
Recruitment agencies have diversified and evolved to contend with the challenges the freelance economy brings. By offering it all, from junior talent to more extensive senior positions, recruitment agencies can deliver clients’ niche and hard-to-source skill sets.
It is extremely important that we are not perpetuating a division and instead adapting and rooting for integration.
If you want to find prosperity within this new model, contact us – we would love to guide you through the explosive freelance economy.