4 Reasons Companies Hire Independent Contractors

By MBO Partners | September 15, 2021

How to Make Business Decisions as an Independent Contractor

Companies often hire independent contractors when they either need outside talent who have skilled expertise or their need is only temporary.  Today’s workforce ecosystem is incredibly diverse. Enterprises are building dynamic teams with a mix of salaried employees and contract or freelance talent. And the contingent worker side of this equation is quickly growing as companies embrace the skills, expertise, and flexibility of on-demand talent.

The external workforce has become key to organizations increasing their agility, increasing speed to market, and developing or improving products and services. This shift towards outsourcing work on a project-by-project basis gives employers access to skilled expertise when and where they need it most. Here are four reasons why companies choose to hire independent contractors.

1. They need specialized and in-demand skills

Today, managers in all organizations know that it is not easy to find workers with the skills they need. Independent professionals are increasingly the answer to this problem. This group of highly-educated and credentialed talent can help to fill skill gaps in a company’s workforce, providing access to in-demand skills that are hard to find in a traditional talent pool. Independent professionals are experts in their respective fields, providing knowledgeable expertise on-demand.

2. To lower the cost of employment

Today’s talent market is competitive and the price of employment is rising. Benefits packages that accompany traditional employment, whether they are lucrative or basic, can quickly become prohibitively expensive for companies looking to grow quickly. Outsourcing talent on a project basis is often more cost-effective and efficient than hiring a full-time employee who may become a burden to the company after a project is completed. Independent professionals offer skilled expertise for a set period of time.

3. To build a flexible, on-demand workforce

By bringing high-end skills and staffing flexibility to the table, independent professionals allowing businesses to act and react faster, helping them remain both competitive and efficient. Sometimes, businesses need help solving an important problem, or want to pursue a one-off project, but simply don’t have the ability to redirect their core group of employees away from daily operations.

Independent professionals are a great solution to this problem, giving companies access to temporary, highly-skilled workers. By bringing in independent talent to supplement their full-time workforce, companies can take the opportunity to invest in new markets, test out a new line of business, or fill out a team for an upcoming project initiative.

4. To get a new perspective

While trusting someone who is not an employee of your company to handle important work may feel strange at first, it can actually be a benefit rather than a drawback. Independent professionals offer a fresh set of eyes and unbiased ideas, providing objectivity and a new perspective that someone from within your company may not have.

And because independents make their living working with many different companies, they have a wealth of experience and knowledge garnered from past projects. They can provide fresh, creative ideas, and a different perspective on possible challenges that may be hard to see from the inside out.

Independent professionals can give your business a valuable competitive advantage in today’s project-based economy. Do you have specific questions about the benefits of independent talent for your organization? Our team is here to help.

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