HABITS OF THE HIGHLY SUCCESSFUL
Do your daily habits correlate with your expected level of success? As a company working with freelancers, who are more often than not running their own show, we often hear about how hard it is to stay productive and motivated. This week, we’re exploring the daily habits of the most successful people Waking […]
Do your daily habits correlate with your expected level of success?
As a company working with freelancers, who are more often than not running their own show, we often hear about how hard it is to stay productive and motivated. This week, we’re exploring the daily habits of the most successful people
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Waking Up Early: If you’re not a morning person, you might roll your eyes at this one, but it makes sense. The earlier you rise, the more hours in the day, allowing more time for activities like exercise, journaling, and personal projects.
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Reading: A lot of reading, mostly focusing on educational, self-help, biographies, and historical books. Successful investor and philanthropist Warren Buffet is a big advocate of this, and considers reading an essential habit for success.
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Continuous Learning: This is a significant aspect for those most successful. Their thirst for knowledge and self-improvement is implemented into their work as they develop healthier mindsets around failure and success. Bill Gates was known to consume dozens of books each year.
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Keeping a Routine: Many of us learned how important routines were during those tough, non-productive work-from-home days in Covid. Having a routine ensures consistency, reduces stress and decision fatigue, and ensures productivity by eliminating time wasted on figuring out the next task. An example of a successful routine follower is Oprah, and the good news is that all the things she does, you can do too—just probably not on your acres of land. Her routine involves walking the dogs, exercising, and meditating.
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Time Management: Effective time management is one of the most common habits among the most successful. With only so many hours in the day, a successful person understands the value of time and can prioritize duties accordingly. Elon Musk is known to break his day into blocks of time dedicated to specific activities, and this disciplined approach minimizes any wasted time. Another person who thrived on a good routine was none other than Bill Gates, who would live each day mapped out in five-minute intervals to avoid distraction.
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Goal Setting (Steve Jobs): Steve Jobs set long-term and short-term goals to have an outlined roadmap to success. Long-term goals provide direction and an overview of where you want to be, but short-term goals make the long term more achievable and less overwhelming in day-to-day tasks. Having a goal keeps you on track and gives you specific tasks to work on.
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Healthy Lifestyles: Not a surprising one—our physical and mental well-being, of course, play a factor in our success. Many accomplished individuals prioritize diet, exercise, and sleep and attribute their success to each of these.
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Exercise: Richard Branson claims that exercising each morning at 5 am is the reason for his doubled productivity.
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Sleep: We all know how important sleep is and how much better we function when we get our 8 hours in! Albert Einstein preferred 10 hours – after all, it affects memory function and creative thinking.
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Mindset: Michelle Obama’s habit or ‘secret’ to success is to give herself permission to be happy. Knowing the way she feels mentally will have a ripple effect on her work and the way she interacts with others around her. Ofcourse that is easier said than done and rather than just choosing to wake up and BE happy Michelle says she has to “plan my happiness” as it doesn’t just happen, “you have to work in some happiness too”. Everything really does take work.
When considering the most successful individuals, it’s easy to overlook that they, like us, focus on engaging in simple day-to-day tasks to stay on course toward their goals. Despite their numerous achievements, they are relatable, as there is a commonality of habits and the need for consistency, highlighting our shared humanity as creatures dependent on routine for survival.
Are Companies facing challenges working with remote freelancers?
We’re a freelancer management platform, so of course we’re advocates of working with freelancers to handle the ebbs and flows of projects! We do however recognise that there can be challenges involved in working with a contingent workforce, especially when it comes to remote freelancers – Would you agree? We asked our LinkedIn, followers if
Are Companies facing challenges working with remote freelancers? Read More »
We’re a freelancer management platform, so of course we’re advocates of working with freelancers to handle the ebbs and flows of projects! We do however recognise that there can be challenges involved in working with a contingent workforce, especially when it comes to remote freelancers – Would you agree?
We asked our LinkedIn, followers if they had faced any significant challenges working with remote freelancers – the results were as follows:
Yes 17% I No 83%
Pre-covid these results might have been skewed the other way, but it seems companies have found a way to make it fit with remote workers, minimising risk and maximising trust. So what challenges are those 17% still facing? And how can they overcome them?
As we’ve discussed on our platform many times, freelancers are an indispensable asset for many companies, so it’s essential we acknowledge and overcome these hurdles. Let’s explore some of the most common challenges businesses face with remote freelancers.
Potential Challenges or Barriers:
The issue: If you’re allowing for remote work, this often means different regions and/or time zones, which can sometimes lead to delays in response times, missed deadlines, and misaligned expectations.
The fix: Best practice communication tools to bridge the gap, regular communication via messaging apps, video calls and clear briefs to maximise productive communication.
The issue: Accountability. With remote employees, it can be difficult to establish accountability as there may be a lack of hierarchical structure and supervision, which may cause misalignment around output of work, or the quality of the work altogether.
The fix: Setting deadlines, clear expectations and regular check-ins. Freelancers are usually bought on for a specific project due to their specialism, and therefore minimal management is usually a benefit, but be mindful that resourcing the management of your contractors or freelancer talent pool is still prudent.
The issue: Data Security and Confidentiality. It’s sometimes unavoidable that you will need to share confidential information with a temporary worker, who may only be with you for a short period.
The fix: NDAs and data security measures and protocols are always a must.
The Issue: Legal and compliance issues. If you’re allowing for freelancers globally, you’ll have to be prepared to deal with the taxation, payroll and employment laws that differ from one country to the next.
The fix: The &FRIENDS platform can manage payment of freelancers for you – Ask us how!
The issue: Collaboration. – Without everyone in one spot, the collaboration aspect can often be lost, and for creative businesses, this is usually pretty important.
The fix: Utilising collaborative tools like Slack or Asana, and sticking to scheduled virtual meetings for group discussions.
COMPANIES LEVERAGING FREELANCERS TO IMPROVE FLEXIBILITY IN MANAGING WORKLOADS
We asked our Linkedin followers: ‘Has hiring freelancers improved your company’s flexibility in managing workloads?’ With 84% of people voting yes and only 16% voting no, you can guess our stance! With 84% of people voting yes and only 16% voting no, you can guess our stance! At &FRIENDS, we actively implement what
COMPANIES LEVERAGING FREELANCERS TO IMPROVE FLEXIBILITY IN MANAGING WORKLOADS Read More »
We asked our Linkedin followers: ‘Has hiring freelancers improved your company’s flexibility in managing workloads?’
With 84% of people voting yes and only 16% voting no, you can guess our stance!
With 84% of people voting yes and only 16% voting no, you can guess our stance!
At &FRIENDS, we actively implement what we advocate. As a small team, when our workload surges, we turn to our pool of freelance professionals. Just like our clients, we leverage our global freelance marketplace to seamlessly assemble the best possible team. This approach allows us to consistently deliver brilliant results to our clients, always meeting deadlines.
In today’s dynamic business landscape, adaptability and flexibility are crucial to staying competitive, and many companies are utilising freelancers to enhance flexibility in managing their workloads.
We know, as well as you do, that client work is never a consistent stream of projects – you win a pitch, you lose a pitch, you make cutbacks, you win a pitch, and you find yourself short on staff and need to hire a team to deliver said pitch! – Sound familiar?
The rise of the gig economy has made it easier than ever to tap into a pool of talented professionals with specialised skills. In this article, we explore how hiring freelancers can improve a company’s flexibility in managing workloads.
Scalability
One of the primary advantages of hiring freelancers is the ability to scale your workforce up or down as needed.
Companies often face fluctuations in their workloads, with busy seasons requiring additional manpower. Freelancers are the flexible solution.
Specialised Skills
Freelancers usually have years of experience in their fields and are known for their niche expertise. This can be a game-changer for projects that require specific skills that might not be available within your existing full-time team.
Cost Savings
Unlike freelancing and contracting, full-time employment is a long-term commitment and comes with all the fixed costs, including salaries, benefits, office space, etc. When compared with a freelancer, you’re saving on these expenses as you’re often paying them per day, per hour, or per project. You only incur costs when the services are needed and are eliminating that aforementioned overhead.
Faster Turnaround
Instead of the traditional Monday to Friday. 9-5 availability of traditional employees, freelancers have a more flexible schedule. They can usually get started immediately, avoiding lengthy onboarding and training processes, and can often work outside the usual business hours as they manage their own workloads and schedules.
Global Talent Pool: Freelancers can be sourced from anywhere in the world. &FRIENDS is a global marketplace with the option to post briefs globally and work with freelancers on-site, remotely – in the same country, or worldwide – It’s friction free and easy. And &FRIENDS even handles the payroll! Having a global community of freelancers gives our customers access to expertise that might not be readily available in their company or even locally. And if planned well, time zone differences can often be an advantage, with projects being worked on as customers sleep!
Risk Mitigation: Freelancers are engaged for specific projects and paid for their services as needed. If a project is cut short or doesn’t proceed, the freelancer’s contract can end with little to no complexities often associated with terminating full-time employees (with the obvious caveats!).
Hiring freelancers is a strategic choice for enhancing flexibility in managing workloads. The ability to scale your workforce, access specialised skills, realise cost savings, and enjoy faster project turnaround times are just a few of the benefits that freelancers can bring to your organisation.
To harness the full potential of freelancers, it’s essential to build effective systems for communication, project management, and collaboration. This is where having a Talent Management System like &FRIENDS can help. Source, book, manage, and pay your freelancers all from one platform.
Interested to see how we work? Book a Demo here
MAXIMISING YOUR PRODUCTIVITY POTENTIAL
YOUR FRIENDLY REMINDER TO IMPLEMENT PRODUCTIVITY STRATEGIES INTO YOUR DAY TO DAY TO KEEP YOU MOTIVATED, ON TRACK AND CLEAR HEADED. Depending on your specialisation, freelancing can be isolating and quite taxing mentally, especially when it comes to the grind of actually finding the projects in the first place! So how are you staying motivated? Are
YOUR FRIENDLY REMINDER TO IMPLEMENT PRODUCTIVITY STRATEGIES INTO YOUR DAY TO DAY TO KEEP YOU MOTIVATED, ON TRACK AND CLEAR HEADED.
Depending on your specialisation, freelancing can be isolating and quite taxing mentally, especially when it comes to the grind of actually finding the projects in the first place! So how are you staying motivated? Are you keeping productive in order to keep a flow of regular work whilst maintaining the current workload?
You’ve likely heard one, or all, of these before but as your FRIENDS we are here to remind you.
How to stay productive and motivated as a freelancer
This includes tips on time management, setting goals, and maintaining work-life balance.
Staying productive and motivated as a freelancer can be challenging, especially when working from home and dealing with the isolation, interruptions and lack of structure. Here are some tips on how to stay productive and motivated as a freelancer.
Staying productive and motivated as a freelancer takes effort, but it’s essential to ensure that you’re successful in your business. Remember to be organised, set goals, take care of yourself, and stay connected with others.
1. Time management: set a schedule for your work, including breaks, and stick to it. use tools such as a calendar, to-do list, or timer to help you stay on track. At &FRIENDS we use tools like Asana and Clockify.
2. Set goals: set clear, measurable goals for yourself, both short-term and long-term. This will give you a sense of purpose and direction. There are many goal setting templates you can use if you need the help setting these up. Asana has a template here.
3. Prioritise: focus on the most important tasks first, and break larger tasks down into smaller, manageable chunks. The time management / project management systems definitely help with this. IMO: multitasking = all of the stress and only some of the results!
4. Avoid distractions: identify and eliminate sources of distraction, such as social media, email, and notifications. There are many social media blocker apps you can install if you don’t trust yourself to stop scrolling. Freedom for example.
5. Take care of yourself: make sure to take care of your physical and mental health, by getting enough sleep, exercise, and breaks during the day.
6. Create a work-life balance: set boundaries between your work and personal life, and make sure to take time for yourself and your loved ones.
7. Stay connected: stay connected with other freelancers and friends. This can help with motivation and avoiding feelings of isolation. There are lots of groups on Meetup, for example, covering a multitude of hobbies and interests.
8. Reward yourself: recognise your accomplishments, and reward yourself for a job well done!
Integrating your freelance hires into your company strategy sessions – Yes or No?
Via a recent linkedin poll we asked you whether you include your freelancers into your companies internal strategy discussions. Here were the results. Yes: 70% No: 30% Although in some cases it might be dependant on certain factors such as, freelancer experience, how long they have been with, or will be with, the company, or
Integrating your freelance hires into your company strategy sessions – Yes or No? Read More »
Via a recent linkedin poll we asked you whether you include your freelancers into your companies internal strategy discussions. Here were the results.
Yes: 70%
No: 30%
Although in some cases it might be dependant on certain factors such as, freelancer experience, how long they have been with, or will be with, the company, or project specifics , it’s Interesting to see that these results show that most companies (55 votes) would in fact include freelancers in their internal strategies discussions.
It’s widely known that the concept of working, and the way we work, is changing, giving rise to the “gig” economy. Traditionally, companies have employed a centralised workforce to steer their strategic decisions. However with the shift towards a more temporary workforce , organisations are recognising the value of involving freelancers in strategy discussions. In this article we explore the benefits, challenges, and best practices of incorporating freelancers into strategic planning sessions.
The Freelancer Revolution
Freelancers usually come with years of experience and are experts in their field. They will often have experience not just across multiple organisations, but across a range of industries, and with that comes a fresh perspective and insights that might not exist within the internal team. The input of diverse freelancers can provide the edge needed to stay ahead in a competitive landscape.
Benefits of Freelancer Involvement
- Diverse Perspectives: Often having worked across a vast range of projects, and industries, Freelancers may have accumulated diverse knowledge that can bring a fresh viewpoint to a strategy session. This might challenge the conventional way the team usually hold their discussion and stimulate creativity.
- Expertise On-Demand: The flexibility of hiring freelancers as opposed to committing to long term employees, mean companies can hire based on specialist skillsets for specific projects or tasks, optimising their resource allocation
- Agility and Innovation: The gig economy thrives on adaptability, and freelancers are known for their ability to quickly respond to changing trends. Integrating freelancers into strategic discussions can infuse a culture of agility and innovation within the organisation.
- Reduced Bias: As external freelancers, they bring an unbiased perspective to the table. Their insights are unaffected by the internal politics of the organisation which would ultimately lead to more objective decision making.
Challenges
30% of voters said no to including their freelancers into strategy discussions highlighting that there are some challenges that come with involving temporary workers in wider strategic and often confidential conversations.
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- Cultural Integration: Freelancers may find it challenging to integrate into a company’s culture given the temporary nature of their work. Companies can assist with this by creating an inclusive environment and providing freelancers with appropriate resources for them to understand the company’s values and goals.
- Data Security: Making the decision to share sensitive information with a temporary employee would depend on a variety of factors, for example, security and data protection measures involved in your organisation might require more than just a generic non disclosure agreement.
- Communication Hurdles: As we know, remote working is still prevalent across many industries, and although it can be done, communication can be hindered based on factors like timezones, geographical distance and scheduling, so establishing clear communication channels is needed to bridge this gap.
- Ownership and Accountability: Determining the level of ownership and accountability that freelancers hold in strategic discussions can be complex. Clearly outlining roles, responsibilities, and expectations helps address this challenge.
Best Practices for Integrating Freelancers into Strategy Discussions.
- Strategic Alignment: Align freelancers’ expertise with the company’s strategic goals to ensure meaningful contributions. Careful selection of freelancers based on their relevant skills is vital.
- Structured Involvement: Define the scope and duration of freelancers’ involvement to avoid ambiguity. Clearly communicate project milestones, deadlines, and expected outcomes.
- Regular Check-ins: Maintain consistent communication through regular check-ins, virtual meetings, and collaboration platforms. This ensures freelancers remain engaged and have the necessary resources to contribute effectively.
- Feedback: Encourage open feedback from freelancers about their experience working with the company. Use their insights to refine the integration process.
As the freelance landscape continues to expand, companies can capitalise on the expertise and fresh perspectives of freelancers by involving them in strategy discussions. While there are pros and cons, a structured approach can help overcome some of these concerns.
By embracing the freelancer revolution, organisations can enhance their agility, innovation, and decision-making processes, ultimately driving long-term success in an ever-evolving business environment.
&FRIENDS – the future of talent agility.
Pros of having freelancers in your company
Freelancers can be beneficial for companies because they can bring specialised skills and experience to a project. They also offer flexibility in terms of the amount of work that can be done and the timeline in which it can be completed. Additionally, hiring freelancers can save a company money on benefits and other costs associated
Freelancers can be beneficial for companies because they can bring specialised skills and experience to a project. They also offer flexibility in terms of the amount of work that can be done and the timeline in which it can be completed. Additionally, hiring freelancers can save a company money on benefits and other costs associated with full-time employees. They can also be used to fill temporary skill gaps or handle overflow work.
How do Freelancers create flexibility for companies?
Freelancers can create flexibility for companies in a few ways:
Scope of work: Freelancers can be hired for specific projects or tasks, allowing companies to be able to scale up or down according to the scope of work – allowing the work to drive the investment.
Timeline: Freelancers can be brought on board quickly and complete a project within a specific timeframe, which can be beneficial for companies with tight deadlines.
Specialised skills: Freelancers often have specialised skills and expertise that can be brought to a project on an ad-hoc basis, allowing companies to access a wide range of skills without having to maintain a full-time staff with those skills.
Boundaryless: freelancers can be located anywhere, which allows companies to hire the best talent regardless of their location. With internal processes in pace, this also makes it easy for companies to handle work remotely.
How do Freelancers inject specialist skills into companies?
Freelancers can inject specialised skills into companies in a few ways:
Work experience: Freelancers often have a wealth of experience working in their field, which they can bring to a project to provide specialised skills and knowledge.
Specialised training: Some freelancers may have specialised training or certifications in a particular area, which can provide a company with access to expertise that they may not have in-house.
Network: Freelancers often have a network of contacts and resources that can be leveraged to bring specialised skills or knowledge to a project.
Flexibility: Freelancers can work on a project-by-project basis, allowing them to bring a fresh perspective and new ideas to a company.
Focus on one skill set: Freelancers often focus on one specific skill set, which allows them to develop a deep expertise in that area. This can provide a company with a valuable resource for tackling complex projects or issues.
Diversify the company’s skillset: Freelancers can bring new skills to a company, which can help diversify the company’s skill set and open up new opportunities for growth and development.
How do Freelancers save companies money?
Freelancers can save companies money in a few ways:
Less Overhead cost whilst having Flexibility in scaling: Freelancers can be hired as needed, which allows companies to scale their workforce up or down as needed, without having to maintain a full-time staff that may not be fully utilised. Paying only for what you need – Companies can hire freelancers for specific projects or tasks, which allows them to pay only for the work that needs to be done, rather than maintaining a full-time staff.
Reduced office space costs: Companies do not have to provide office space or equipment for freelancers, as they typically work remotely and provide their own tools.
Taxes & Insurances: Despite some policy changes in recent years, it is still cheaper with regards to taxes and insurances for companies to utilise freelancers, leading to significant long term money savings.
Reduced internal resource and recruitment costs: Companies would also not need to pay for collateral recruitment costs, such as; job postings, background checks and interviews when hiring freelancers – further reducing internal headcount.
The pain points around building Creative workforces
When we talk to companies about their creative workforce and what challenges they face, it generally comes down to 4 topics: The need for more agility How to plan for a flexible workforce Building resilience in a freelance workforce How to find quality freelancers The need for more agility The days when brands
The pain points around building Creative workforces Read More »
When we talk to companies about their creative workforce and what challenges they face, it generally comes down to 4 topics:
Manage your &FRIENDS communications settings
PROJECT ALERTS We know you get enough emails, and yes we get the irony that you’re probably reading this due to email but we promise it’ll help. When you signed up with &FRIENDS you may have input multiple specialisms/expertise on your account as you can have up to 4 on your profile. This also means
PROJECT ALERTS
We know you get enough emails, and yes we get the irony that you’re probably reading this due to email but we promise it’ll help.
When you signed up with &FRIENDS you may have input multiple specialisms/expertise on your account as you can have up to 4 on your profile. This also means you will get a project alert (via email) every time a project is posted that matches every specialism you have added.
To avoid clutter in your inbox, prioritise which alerts you want to receive via email. If you turn off the email project alerts, not to worry as you will be able to see the projects that match your specialisms when you login to &FRIENDS under new projects and if you think you’re missing out on any you can see ALL projects here
EVERYTHING ELSE
Update your email communications on:
– Project Bookings
– Talent Pools
– Invoices
– Message alerts
– Account Settings
How to get rebooked on &FRIENDS
You’ve had a booking through &FRIENDS, you’ve pimped your profile, your availability is up to date, your portfolio’s fully loaded with your finest work and you’re raring for your next gig. So where is it! Hang in there! It’s understandable to feel frustrated at times with marketplaces like us when you feel you’ve done your
You’ve had a booking through &FRIENDS, you’ve pimped your profile, your availability is up to date, your portfolio’s fully loaded with your finest work and you’re raring for your next gig. So where is it!
Hang in there! It’s understandable to feel frustrated at times with marketplaces like us when you feel you’ve done your bit. The fact is they are ultimately at the mercy of the projects clients choose to post — definitely not in your control, but the impression you create to give yourself the extra edge is.
So, when the next project that matches your skillset gets posted, here are some ways to steer your profile from unknown to unforgettable and be rebooked.
Be a Bookable Candidate
When a client is looking for a candidate they are either consciously or subconsciously looking to solve a specific problem. Whether they need a specialist or more people on a job to meet a deadline, they need help quickly, easily and at great value.
Experience is often a prerequisite, however, the more you put yourself in front of a client and make things easy for them, the more likely you are to be considered. So, demonstrate how helpful you are and stand out by following these cues:
Prompt Responses
It’s hard not to be immersed in your current work, but a prompt response to a potential client’s question makes a great first impression and builds their confidence in you. Try and get back to them within an hour if you can.
Actioning Requests
Just as responding quickly is important, delivering on requests is even more so. If you don’t act quickly, how will you go with deadlines? Shooting over an extra piece of work, updating your resume or giving your opinion on something can all be used to your advantage. You’re selling yourself as the solution to their problem after all.
Use Initiative
You don’t have to be the kid who puts their hand up so high they get air, but you can use your initiative to subtly stand out. Directly message the client to introduce yourself. Ask an intelligent and thoughtful question.
Our data shows personal interaction shows you’re interested, invested and increases your chance of being booked by more than 30%. It could be the very beginning of a great working relationship.
Be Flexible
Hours: So many Freelancers disregard gigs for reasons like the start date is too soon or they can’t commit to the required amount of days. However, clients are often open to discussing days and hours — they have to put down something but it doesn’t mean it’s set in stone. If you’re interested, this is your opportunity to show your initiative and ask those questions.
Rates: Be aware of the budget for a gig before you apply. If you want to stay in the realm of consideration you have the ability to edit your rate before you click apply (it can be changed again before a gig is booked).
Taylor your profile
If you want to be seen by a particular client, tailor your profile to suit each project referring to the skills and always make sure it’s up to date
While Booked
You’ve got the gig, now to make yourself memorable! The impression you leave will largely be based on the quality of your work. However, never doubt the power of good customer service. There are so many simple ways you can impress clients with barely any extra effort at all, such as:
Invoice/Timesheet Promptly
Send timely invoices or timesheets so they can wrap up jobs and you get paid — win/win.
Hit Deadlines
Consistently meet deadlines! Or if they’re not realistic, have these chats early to avoid knock-on effects and allow for planning. Clients don’t always know themselves on how a gig should be approached, so use your expert knowledge to guide them and let them know how you would recommend tackling it.
Stick to the brief
Sharing ideas can add value and show initiative but ultimately make sure you are sticking to the brief. Constantly refer to the brief & never hold back from asking questions & raising queries. Even Dumb questions are important
Communicate
Now more than ever with most gigs being remote, good communication is crucial. So even when you’re under the pump working on several gigs it’s incredibly important to keep comms up and running with your clients.
Build your profile
Create good habits like uploading new work as soon as you’ve finished a gig, just like you’d automatically send your invoice.
Why not send through a request to our talent team so they can review and help build on your profile for the next gig.
Be Rebooked
Once you’ve been booked by a client through &Friends, it’s likely you’ll be booked time and time again. New clients are exciting but repeat clients offer camaraderie, security, time-effectiveness which equals profitability as you’ve already climbed the learning curve and understand their business. Repeat clients are definitely worth pursuing so here’s how:
Make a good first impression
As a freelancer, you’ll already know that first impressions really do count. The extra effort is always worthwhile. So be enthusiastic and add value wherever you can from the get-go.
Keep in touch
Check-in with previous clients on a regular basis. Find out if they have any projects coming up, comment on something you’ve seen or mention an article that may be of interest. We’d suggest reaching out to your regular clients at least every 1-2 months. You might just put yourself in their mind at the right time.
Want some help on setting yourself up as a business not just a freelancer? Check out our tips here
Are Industry forces driving up freelancer demand?
While talking to agencies about &FRIENDS and their freelance needs, I stumbled onto something that surprised me. Large agencies seem to rely on Freelancers to the same degree as smaller agencies. Like me you’d be forgiven for thinking that large agencies are able to reduce their relative freelance needs by having the scale to bolster their
Are Industry forces driving up freelancer demand? Read More »
While talking to agencies about &FRIENDS and their freelance needs, I stumbled onto something that surprised me. Large agencies seem to rely on Freelancers to the same degree as smaller agencies. Like me you’d be forgiven for thinking that large agencies are able to reduce their relative freelance needs by having the scale to bolster their existing teams and recruit in a broader spectrum of experts. However, while these tactics are typically put in place by large agencies, it seems freelance demand still remains consistent.
Why then does agency scale seem to have almost no impact in reducing freelance demand?
I believe macro industry trends could play a major role in driving freelance demand while relaxed internal management of freelancers also naturally plays a part. Below are three industry forces and one internal company dynamic that I’ve observed:
1. Fragmentation
There is ongoing fragmentation in almost every aspect of marketing, advertising and digital. It typically starts with fragmentation of channels and technology which leads to fragmentation of project types, which leads to fragmentation of skills which then leads to fragmentation of service offerings by agencies. The end result is a greater diversity of projects for agencies requiring a greater diversity of experts than agencies can justify or afford adding to their in house teams. Given the full service nature of large agencies, it’s only natural they fall victim to this market condition more than smaller agencies.
While agencies are typically selling more services to establish a competitive strategic position, the majority of their revenue is still typically centred in the heartland roles such as account service, creative and production. This means its hard for agencies to justify bringing in full time roles for the services that have future strategic importance but low current utilisation. The result is more freelancers to help support strategically important innovative projects.
2. Cyclical demand
Agency revenue is typically cyclical with clear peaks and troughs through the year. Usually business slowly ramps up in Q1 with Q2 and Q3 being the heaviest periods. Q4 can be a bit of a wild card depending on how much momentum you have in your business. Regardless though, it always falls off a cliff at Christmas time and takes two months to pick up again the next year. Given this trend, responsible agencies will balance staffing decisions based on planning for the peaks and troughs in the year. Consequently, freelancers end up playing an important role in handling the peaks, no matter what size of agency.
3. Tighter Budgets
Retainers seem to be mostly out of favour with clients and project budgets are increasingly tight which I assume is directly correlated to brands needing to spread their budgets across an ever fragmenting channel eco-system (see point 1). All of this forces agencies to reduce their staff costs and become more nimble in how they resource the projects they win.
4. Internal Checks and Balances
Larger agencies are inherently harder to run efficiently and I know from personal experience, it’s easier to justify and ‘hide’ freelancers in the corners of departments and on project teams. Though recently this is beginning to change with the big holding companies shining a spotlight on this behaviour. There is no doubt that efficiencies can be gained by tightening up the way freelancers are managed within agencies. It makes complete sense to ensure that every freelancer is either billable or a conscious investment decision (e.g. pitch). Additionally, holistic resource management avoids the all too common situation where full time team members in one team are twiddling their thumbs while comparable freelancers are brought in to work on a brief for another team.
What does this mean for agencies?
If current industry conditions really stretch agency staffing needs like they appear to, it’s likely that freelance demand will continue to increase regardless of the efforts to drive more internal efficiency. This in turn will increase the relative importance of freelancers within agencies and encourage consideration of how to create a competitive advantage in how quality freelancers are found and engaged.
Ready to build your team of freelancers? Sign in to post a gig or search our community of talent freelancers
