An independent contractor is an individual that provides services as a consultant for a single or multiple clients. Contractors do not repeatedly work like a typical employee but get hired to provide their services according to the situation. These contractors are paid on a contract basis and often work through a registered company or work through an online marketplace like SkillSoniq. On SkillSoniq, the end client pays SkillSoniq based on the total number of hours worked by the freelancer. Then SkillSoniq keeps a placement fee and passes on the remaining to the freelancer.
Not many business owners are comfortable with this form of work where the job is completed by these contractors. Some may debate that hiring an employee is a more organized and a lot simpler process. We would like to highlight the key benefits of hiring and finding contractors.
Key Benefits Of Hiring And Finding Contractors
Contractors usually work from home, which means that companies do not incur overhead costs. Contractors or Freelancers even cover their own health care and other such benefits. On the other hand, a typical office employee's fee is several times higher because it involves official employment of the staff, payment of taxes, providing a working place, and fixed salary. Sometimes, the work that is assigned isn't routine, or it could be a one-time task. For this reason, finding contractors and hiring them can help the employer accomplish the job and pay them whenever they need them.
2. Finding Contractors who are Flexible
Contractors do not tend to work within a time constraint and instead work at flexible times. Finding contractors is a better alternative than hiring employees on the payroll, because the employer will always have just the correct appropriate number of workers, without any dead weight. Whether it is a small-scale project or a large-scale one, they are able to hire just the right number of workers. Another plus is that contractors don't have to work with any set hours. This flexibility can be of great benefit to the employer too. They can get the contractors to do jobs even at weekends, which is not usually possible with regular employees.
3. Get Higher Quality Work
Typically, for employees, the nine to five jobs is just a chore that they need to get done to pay their bills. On the other hand, experienced contractors have many incentives to deliver high-quality work, and they also prove that they don't need to be physically present to supply quality work. Contractors have their system to measure success, which is not based on the number of projects they are a part of but the number of projects completed successfully. So, contractors know that if they don't provide quality work to their clients, it will affect the reputation and hurt future projects. Therefore, contractors make sure to deliver quality work to their clients.
4. Contractors have a vast network
For any project, a single expert is not enough. Every project has various needs that need to be catered to, and hiring various experts is hugely time-consuming and expensive. One could be surprised that finding a contractor with a network can help you get a lot done at a fraction of the cost. After all, contractors usually build strong connections with fellow contractors and experts, and can suggest more contractors to a company for projects they work on. So, even if you are hiring a writer, chances are, they can recommend a tried-and-tested marketing specialist who can help you deliver even better results.
5. Contractors come with vast experience
Contractors have vast experience as they have been in the business for many years, working with different individuals and companies. Hiring contractors can benefit you in leveraging the knowledge and expertise of a person who has worked on various projects with successful companies and uses that experience to benefit your business and make sure that your venture succeeds. 61% of contractors specialize in 2 to 3 talents. Contractors who have commendable technical expertise can offer multiple services to your business. They are more inventive, keep themselves up to date with new ideas and technology, and are incredibly open to suggestions. Contractors help in generating new ideas for the business and quickly bring them into effect. They also provide a valuable contribution to the company as well as provide support and engagement. Therefore, contractors come up with novel solutions for your business problems.
6. Fewer Regulatory and Legal Obligations
When an employer extensively trains an employee, they go through a ton of time to upskill an employee. If the employee chooses to leave, it puts the employer in a problematic situation that can curtail their progress. Finding contractors is a better alternative because the company has the liberty to shift between different workers as needed and can part ways without any disarray, according to the contract signed. If someone fails to do the job right, they can easily find another contractor who's more suitable for the job. Understanding the gig economy and getting on board with the trend of flexible contracts is your ticket to constant growth, greater productivity, and increased profits.
7. Significantly Less Scope of a Job Getting Delayed
Contractors do not benefit from job security and hence are endlessly focused on carrying out an outstanding job and delivering it on time. On average, contractors work around 40 hours per week. For contractors, reliability, and exceeding the business owners’ expectations are high priorities. They fully understand that surpassing the client's expectations and meeting the deadlines are great ways to build customer loyalty and get future business.