fbpx

Why More Companies are Making Use of Freelancers During the Recession

  1. Home
  2. Business and Entrepreneurship
  3. Article detail
Why More Companies are Making Use of Freelancers During the Recession

The global recession has pushed companies around the world to adjust their operations in a bid to ensure that they survive these tough times. The covid-19 pandemic and the Russia – Ukraine are some of the events that have led to the global recession. Businesses continue to feel the pinch of the hardening economy and this has led to changes in how most businesses operate. 

One of the areas that demand attention during a recession is the personnel that a company employs. The economic meltdown leads to retrenchment and hires freezes as businesses try to spend less on their wage bill. While a business may be forced to cut down on the number of people they employ, it is likely that they will still need the services that the retrenched workers provided. How does a company maintain its wage budget while still meeting the personnel demands of its business?

Freelancers as a solution to personnel issues 

While many businesses are forced to downsize due to the economic crunch, they still need to fill in the gaps that appear in their company. Employing people full-time may not be a viable option when cash flow is tight. In a world where the gig economy is growing every day and where more professionals are taking up freelance work, more companies are making use of freelance services. 

For a small business that is trying to find its feet or a company that is struggling financially, freelancers are a strong option. The growth of digital business tools gives companies to professionals from any part of the world. This widens the access to talent pools that businesses have. Platforms such as AfriBlocks help companies to connect with the freelance talent that they may need for their projects. The availability of freelancers helps businesses find the service providers they need without breaking the bank. 

An opportunity for professionals to sell their skills to businesses from all over the world 

As a professional with a specialized skill set that can be accessed digitally, the current setup of the working world presents one with opportunities that may not otherwise exist. Today’s businesses understand that to see progress in their work, they have to make use of the world’s best talent. If one is accessible to companies and individuals that may need their services, it makes it easy for them to connect and work together. 

According to a survey conducted by AfriBlocks among African freelancers, 35.6% of the respondents said that they access jobs through job marketplaces such as AfriBlocks. 32.9% of the freelancers said that they get gigs through social media platforms such as LinkedIn, Twitter, Facebook, and Instagram. What this tells us is that for freelancers to gain access to consistent work, they should have a substantial online presence. 

Forms response chart. Question title: How do you find work? . Number of responses: 73 responses.

The recession has forced companies to rethink their approach to hiring workers. The growth of the gig economy coupled with a growing preference for employing freelancers for specific services means that professionals have a chance to work with companies from anywhere in the world. As companies are increasing the rate at which use freelance services, freelancers should improve their online presence and register on marketplaces such as AfriBlocks.

AfriBlocks Network

Author Since: March 10, 2022