About 59 million Americans worked freelance in 2020, contributing a stunning $1.2 trillion to the US economy. It’s a statistic that shows just how strong the freelance industry continues to be, amid a global recession spurred by the COVID-19 pandemic.
Freelancers are an essential part of today’s business world. 70 percent of small businesses have already used freelancers in the past, and 81 percent plan to hire more freelancers in the future. If you’re one of these businesses, then no doubt you’ll want an efficient system for outsourcing work to freelancers and managing them.
That’s where freelance management systems come in. These tools are specifically meant to support freelance hires.
In this comprehensive guide, we tell you all you need to know about freelance management systems and why they can help take your company to the next level.
Read on to learn more.
What Is a Freelance Management System?
A freelance management system refers to a platform for managing all the operational, legal, and finance components of working with freelance hires. These platforms help businesses reduce the paperwork associated with managing freelance teams and enhance productivity.
Freelance managers like Jobbliss can instantly simplify every process. This way, you get to dive into your work faster and achieve more impressive outcomes.
Without these tools, it would be difficult to manage an increasing number of your contingent workforce, including your freelancers, gig workers, and consultants. It’s an incredibly complex responsibility that requires lots of time.
Benefits of Freelance Management Systems
Entrepreneurs at a loss on how to manage freelancers can benefit from the right freelancers. Here are six ways how these tools can help you.
You Get To Stay Compliant
When you work with freelancers, it’s essential that you meet compliance standards. Failure to do so puts your company at risk of financial and reputational damage.
Top freelance management systems come with built-in workflows that help you monitor and track compliance. This way, you keep the risk of potential hefty penalties at bay.
These Tools Boost Productivity
As your need for more freelancers grows, engaging with them becomes more complex. You have more contracts to deal with, a greater budget to handle, and more right-to-work checks with which to contend. It truly can be a time-consuming affair.
A freelance management system takes care of all this, ensuring that all normal processes are handled without the need for additional excel spreadsheets. Freelance managers centralize functions to remove complexity while eliminating human error.
And with the automation of crucial tasks, these tools transform the way you do business and boost productivity.
Budget Management Becomes Easier
The right freelance management system helps you see where you’re currently spending money. The software helps you ensure that your budget is aligned with your business goals.
With a freelance manager, you minimize the risk of exceeding or going under budget. The system can also help you decide whether to extend a freelancer’s contract or let them go, based on their performance and what they bring to your business.
With these tools, you can also audit your suppliers comprehensively. Such audits may even help you see new avenues for saving money.
One of the surest tips on how to improve your business is to engage the right candidates for the job. But freelancer hiring can be a messy and complicated process. Often, there are many hurdles you need to overcome to find top talent.
Freelance management systems can help overcome this challenge. The right software can bring together all your direct contacts and recruitment network in one place. With a centralized pool of talent from multiple sources, it’s easier to the best choose freelancers.
You Get To Streamline Your Onboarding Processes
Identifying the right talent is just one part of the job. You still need to onboard them to ensure that every hire is equipped to do the best job for your company.
During the onboarding process, keep your organization protected by only sharing the right information at the right time. Additionally, you should only grant the right levels of access to your hires.
A reliable freelance management system helps centralize the entire onboarding process. This way, all freelances go through consistent onboarding and offboarding stages. That also means that every freelance you engage goes through the appropriate compliance and security steps.
The Right Freelance Management System Can Transform Your Business
As more Americans opt to work as freelancers, businesses are increasingly tapping into this talent. And for those companies who already have such a workforce, investing in the right freelance management systems makes clear business sense. Not only do these systems simplify your work and ensure compliance, but they also help you get the most out of your team.
Are you interested in a freelance manager you can count on for the best results? Please, contact us today and learn how we can help.