popular

Just as an early-career professional will have different strengths, advantages and priorities than another staffer with 30 years in the business, considerations for a freelancer will look very different depending on where they are in the contractor journey.

Experience matters, but success for an independent contractor has more to do with how that individual has spent their time in an industry, rather than just a simple measure of years logged. What are your most marketable skills? How do you know what to charge or when to increase your rates? To identify next steps, it helps to think about which stage of freelancing you’ve entered. Here’s a short overview that can help you plot that journey:

Perspective contractor: Never freelanced before? Considering a change? Now might be the perfect time to start your contractor journey. The job market has shifted dramatically in just the past year or two, and contractors are finding more and better opportunities than ever before. Maybe you’re early in your career and just gaining a foothold in an industry. If you’re reluctant to dive head-first, dip your toes instead: take on a small project or light part-time work to see how it suits you. You may find that more flexibility and the ability to work on more of your own terms fits you better than full-time work and office life. By taking on outside jobs here and there, you can begin broadening your network and building out your contractor profile, giving yourself the runway to make the jump from traditional employment to freelance if and when the time comes.

First-time contractor: Once you’ve committed yourself to contract work, you’ll want to continue to establish new relationships, keep up with the old ones, turn in quality work, hit your deadlines and keep your calendar full – without, of course, taking on more than you can handle. Sound like a lot? It can be. But freelancing doesn’t have to be a constant grind, depending on your situation. Contract work could be the perfect elixir for the semi-retired worker or someone looking to ease out of the daily 9-to-5. Instead of the all-or-nothing proposition of a staff job, freelancing allows someone in the later stages of their career to stay in the game while enjoying a lighter schedule and taking on new projects if and when it suits them.

Full-fledged contractor: There’s no rigid timetable for these things, but as a rule of thumb, a year of contract work should be enough to gauge whether the lifestyle and commitments of a freelancer are right for you. If you’ve been able to build on your relationships, secure an anchor client or two and generate recurring business – and if it hasn’t sent you running back to the office or a staff position – contract work could be a sustainable fixture in your life. Full-time freelancing can be a godsend for, say, a working mom who can build her schedule around childcare, rather than the other way around. Cut out the commute. Save on daycare. Spend that quality time with the kiddos. That’s the contract-work sweet spot.

Seasonal contractor: Let’s say your work is in public accounting – a highly seasonal profession. The name of the game is to land and expand: secure work with a firm, build your relationship, get something on the books for next year as soon as possible and keep working to grow your scope of work. As you prove your chops in different areas of the business, the more valuable you become to a firm. Once that happens, you can start to count on bigger chunks of work at regular intervals each year, and soon (gloriously) you can begin raising your rates.

Whether you’re a seasoned veteran or prospect of the contract space, PeopleCaddie can help identify the best opportunities for you. Click here to contact us.

Whether you’re a longtime contract worker, a new college graduate just embarking on your career, or an experienced professional considering freelance work for the first time, there are plenty of reasons to take stock of the current contractor market. The pandemic has prompted tectonic shifts in the overall job economy, and that has produced an undeniable ripple effect that can be expected to influence contractor workflow throughout the year – and likely beyond.

With those circumstances in mind, PeopleCaddie recently conducted a survey of accounting contractors as a sort of litmus test of the current freelance market in at least one sector. Our goal: Target professionals who have completed at least one contract assignment with a public accounting firm within the past three years in an effort to determine any important patterns or developing trends that contractors should consider in the near future. Here is a sample of the survey findings:

Contract lengths may vary – widely. The typical contract duration cited by survey respondents was 4-6 months, but the actual range freelancers can find in the gig market extends well beyond on both sides. One or two-month contracts are not uncommon. On the other end, some contracts can cover two years, while certain freelance gigs may extend indefinitely. Ask around to get a feel for options in your industry, and near the end of each contract be sure to think about your preferred commitment level and current willingness to consider other contract lengths.

Don’t dread the specter of down time. The transient nature of contractor workflow and limited opportunities within some sectors – or at least the perception of them – likely scared off some would-be freelancers in the past. A failure to find consistent employment is one of the biggest fears of all employees. But 81 percent of PeopleCaddie survey respondents felt that finding contract work was easy. More than 3 out of 4 workers surveyed (76 percent) said they found their most recent freelance assignment in less than a month, and 60 percent of that group said they had multiple opportunities from which to choose. Be proactive, but don’t fear gaps between gigs. There’s lots of work out there.

Employers are paying up. Especially in today’s job market, in which companies are struggling to build back their workforce to pre-pandemic levels or just keep up with current business, employers have no choice but to adjust to the demands of labor. And for contract workers in particular, the opportunities for a financial shot in the arm are golden. According to our PeopleCaddie survey, 76 percent of respondents who left a full-time position to become a contractor were able to immediately boost their income. The most common increase was in the 20–39 percent range, compared to a respondents’ last permanent job.

Freelancers, above all, are happy. As you might have guessed after learning a bit more about the current contract labor market, a huge majority of those participating in it feel good about that choice. An overwhelming 89 percent of survey respondents expressed satisfaction with their decision to contract, and when asked what they found most fulfilling about freelancing, they cited flexibility, increased pay and reduced stress – in that order. All that and a happier professional existence? That’s what it’s all about.

PeopleCaddie can help keep contractors busy by becoming part of our talent cloud. Find out how by contacting us here.

Because of the recent shakeup in the employment market and current uncertainty across areas of industry ranging from workforce to distribution to supply chain, many companies are feeling frozen when considering any business strategies that extend beyond the here and now. It’s because of that unpredictability, resource managmeent can be a challenge. However, employers should consider an initial tactic as a no-brainer moving forward: aggressively pursue and employ contractors. But it’s important to consider a strategy when planning for contract work.

Hiring freelancers, consultants and temp workers is nothing new for many companies. But today, more contractors are being used – and in a variety of ways, for a variety of reasons – by more businesses than perhaps ever before. Given the climate of volatility that industry finds itself in now, the interest in leveraging contract work is expected only to grow.

Knowing that to be the case, companies should begin immediately considering their approach to incorporating freelance and gig workers into their business model, especially in the near term. When looking to flex your team with professional contractors, there are a few things to keep in mind. 

What to Keep in Mind When Planning for Contractors

Make haste in hiring. Now is the time to reach out to and, ideally, bring aboard the best contractors. First, there are more of them to choose from than ever, with many former full-timers having opted to join the rapidly expanding gig economy since the pandemic. Additionally, those contractors who are in the highest demand figure to come off the market quickly. If you’re a hiring manager, you’ll want to establish relationships with those workers to not only meet today’s needs but also add them to your network to possibly assist on future projects. And if you know you’ll need those contractors soon, even if not at this precise moment, you may want to consider snapping them up now – while you still can. Seasoned professional contractors typically have their next gig lined up well in advance of their current gig ending.

Which contractors have clicked in the past? Think about the freelancers you’ve worked with in the past. Which helped bring you success? Which delivered the most impressive results? The more workers you’re able to bring back into the fold who have contracted with your company in the past, the lower your risks and onboarding costs. In some cases, those workers will be able to skip any learning curve altogether. A plug-and-play workforce is ideal.

Build and maintain an on-call contractor list. Some industries, such as accounting, are seasonal and follow relatively predictable rhythms. Some companies require highly specialized project work or need to address platforms outside the scope of their expertise (IT, for instance). And every company has full-time employees who go on maternity and paternity leave, or take unexpected leaves of absence. Stocking a digital rolodex full of capable contractors who may be available and interested to fill a temporary gap can save a business time and hassle.

Consider your preferred usage of contractors. Some businesses prefer a workforce stocked with full-timers, using freelancers only in a pinch. Some like to strike a balance in order to build in flexibility. Other companies aggressively hire contract workers in a sort of ongoing tryout to find potential staffers. A few take an all-of-the-above approach. But no matter your needs or inclinations, be sure to give plenty of thought to how your company expects to deploy contractors. You’ll wind up with better matches, happier employees and a more robust network of contract workers to tap into when needed.

PeopleCaddie can help your company outline a strategy for incorporating contractors. Reach out to us to learn more.

In some corners of the business world, jaded opinions and antiquated stereotypes still exist when it comes to weighing the quality of freelance work and the value of contract employees.

For too long, contract gigs were considered to be less than. On both sides of the employer-employee relationship, contract work was believed to be a Plan B or a necessary evil – a stop-gap until the right fit between employee and full-time role came along.

But if you haven’t already noticed, more organizations than ever – across countless industries – are making use of contractors. At the same time, the percentage of the workforce involved in the gig economy continues to grow. These aren’t coincidental fluctuations. Freelancers are finally getting their due. Both companies and workers, at last, have come to an important realization: contract employees are just as valuable as full-timers, and because they typically do not receive company benefits and assume greater employment risk, contractors are usually paid more than permanent employees.

According to a 2019 Intuit Quickbooks report, the percentage of adults in the United States engaged in self-employment as of 2017 was the highest since the IRS started reporting in 1957: 17 percent. The trend has only gained momentum during the pandemic, with mass corporate restructurings and layoffs being followed by hiring frenzies. Research compiled by Fortunly found that more than one-third of U.S. workers (36 percent) now participate in the gig economy, either through their primary or secondary jobs. Additionally – and perhaps most interestingly – more than 90 percent of U.S. workers would consider freelancing or independent contracting.

That marks a seismic shift from the stigma-tainted view employees once had of gig work. As more companies discovered the advantages of utilizing contractors and increased their engagement with the freelance workforce, the implication became clear: contract employees value is high. They are now business-critical elements of most large organizations. The yin to staff employees’ yang, contractors support the overall infrastructure of a company and provide more specialized, better focused resources that allow for a more productive and efficient overall workforce.

From a human resources perspective, it’s easy to see why contractors value is high to a business. Given the finite terms associated with freelancer agreements, contractors allow a company to squeeze out more margin and build in flexibility for unforeseen circumstances. They are easier to activate, too, accompanied by less hassle in terms of onboarding, adjusted unemployment taxes and other administrative tasks and responsibilities. Contract workers are the closest thing to plug-and-play solutions in most professional settings.

The value of contractors, however, extends far beyond what they don’t bring to a business. Gig workers are often highly specialized, with honed skill sets and a sharpened focus that can be nimbly applied to a variety of temporary resource needs and projects. They bring value across the board. For accounting firms and other businesses that can set a clock by the seasonal ebbs and flows of work. For any organization building a new website or creating a new ad campaign. Contractors can instantly and adeptly fill short-term gaps or deliver hyper-concentrated expertise without bogging down a business with long-term staff commitments.

The narrative (thankfully) has changed around contract work. And as attitudes have changed, more workers now consider and ultimately take the plunge into the freelancer pool. That means more workers from which a company has to choose, a better quality of gig worker and a mutual respect between contractors and staff that, in the end, elevates a business.

Looking to supplement your workforce with contract employees? Check out how our talent cloud works.

In January, a vaccine-or-test mandate issued by President Joe Biden’s administration for larger businesses was struck down by the Supreme Court. A week later, a federal judge in Texas blocked another vaccine mandate that would have required all federal employees to be vaccinated against the COVID-19 virus. These are intertwined stories that employees and employers of all political leanings have been following for months now – and they are likely far from finished.

The initial rulings – that the Occupational Safety and Health Administration (OSHA) lacks the authority to force 84 million workers to be vaccinated but that the Centers for Medicare and Medicaid Services does have the right to enforce a vax mandate for hospital, nursing home and healthcare employees – are based on slippery-slope premises that figure to be further challenged in court. These are sticky, personal issues that have driven wedges between family members in individual households. You can imagine the challenge for corporate leadership to satisfy all parties in the workplace.

Yet even as hopes that new waves of the Omicron variant subside as the year advances (and warmer, outdoor weather allows for more social distancing), companies should expect to be navigating the matters of personal freedoms, worker’s rights and the safety obligation of employers for the foreseeable future. There’s just one question in the meantime: What now?

With federal mandates likely up for further debate, and with state and local laws frequently in conflict even with settled federal decisions, organizations across the country – many of them having established a presence in multiple cities and states – probably feel stuck. It’s hard enough building a business under ideal conditions. During a pandemic, when public opinion is split and even government officials can’t agree on a way forward, it may seem impossible.

Still, employers have options. Rather than investing in pandemic-proofing measures such as a massive remodel of existing facilities or testing infrastructure that could become antiquated or obsolete within months, companies can help meet their short-term needs using contract workers.

Contractors offer employers several advantages during these uncertain times. First: flexibility. Freelancers are easier to hire and can be retained without some of the long-term commitments necessary for staff hires. This can make filling holes in the workforce and handling temporary and unforeseen situations (such as those during a global pandemic) more manageable.

Additionally, many contractors are not only accustomed to working from home – they prefer it. By engaging freelancers who require less overhead per worker (no desk, chair, office space, etc.) and are able to isolate themselves from other employees in their own work spaces, a company can have the best of all worlds: a thrifty, safe and productive workforce.  

Contractors won’t solve every business problem during the pandemic. But even as legal wrangling over federal mandates threatens to bog down industry at large, contract workers allow organizations greater freedom to keep moving ahead in the meantime.

Think contractors might help your company navigate these uncertain times? Check out PeopleCaddie’s talent cloud.

There’s no getting around it: Hiring managers and companies with positions to fill have it tough right now. Just as the pandemic shook up so many of our global systems, it also created a labor shortage – which has yet to find its equilibrium.

Employers who hold out, waiting for a sudden shift in the winds, should expect to be sitting on their hands for quite a while. The current bear market for employers isn’t expected to turn for the foreseeable future. In fact, according to U.S. News & World Report, “economists are now starting to believe the pandemic has changed the behavior of the job market in ways that could have a lasting impact, indeed even resetting the relationship between workers and their employers.”

With companies having trouble not only filling open positions but also holding on to their best employees, uncertainty for hiring professionals – even in the near term – may be at an all-time high. During a labor shortage, there are only so many ways a business can respond in order to avoid significant risk while still remaining competitive. Here’s an excellent starting point: hire high-quality contractors who are proven performers.

Targeting the best freelancers will require some urgency and a cost premium in the current market, but the payoff for employers can’t be overstated.

Contractors come with the usual advantages for companies: maximum workforce flexibility, a larger pool of candidates from which to choose and a quicker turnaround in the hiring process. But in this environment, those benefits have become even more critical for most organizations.

And the workforce landscape being what it is today is why high-quality contractors are especially important across all industries. The best freelancers are experienced and versatile, able to negotiate the learning curve at a new company quickly. Hand-holding by staff isn’t necessary for these contract employees, who have a demonstrated ability to work autonomously even in unfamiliar roles. Moreover, many of these top-shelf contractors are capable of more than one job, or multiple sets of duties, meaning they are more likely to be equipped to be brought back as a resource – particularly after they are familiar with a company’s personnel and systems and the company is pleased with their quality of work.

With a talent cloud like PeopleCaddie, identifying and hiring these high-quality freelancers has never been easier. Filter, search and scroll to find our member contractors with the ideal skill sets and experience levels for your company’s needs.

Don’t sit idly by waiting for the best candidates to come to you. The highest-quality contractors are in demand and won’t come cheap. But an investment in the right talent cloud service and gold-standard freelancers will reward businesses with the combination of flexibility and productivity that can help them expertly navigate through the uncertainties of The Great Resignation.

Interested in learning more about PeopleCaddie’s talent cloud? Learn how it works here.

After forced shutdowns left many without work in 2020 and the expiration of government assistance turned up the financial pressure on millions of Americans in 2021, one might think 2022 is shaping up as a year in which the job market finds its equilibrium. Surely, workers are ready to begin stepping into the positions so many businesses are eagerly seeking to fill. But recent trends suggest that simply isn’t the case. The Great Resignation, as it’s being called, is being driven by a combination of pent-up demand from employers and an awakening of sorts among employees.

Given time to consider their professional circumstances, which was followed by an explosion of job openings across industries and sectors, workers – employed and unemployed alike – are taking their time to carefully weigh their next moves.

With more workers than ever reflecting on their careers, values and priorities – which may have been shifted or reshuffled by the global pandemic – it is now employers’ turn for reflection. In order to attract and retain the best talent, and create a satisfying, productive work environment, many businesses must re-evaluate everything from work norms to employee benefits to pay structure. And we aren’t just talking about a ping-pong table in the break room and a company-wide cost-of-living salary bump.

As a business, it is critical to begin quantifying what workers value – not just what you’ve been willing to offer in the past. What will move the needle for a prospect who has not been working professionally through the pandemic, and who is in a position to continue doing so? And what will it take to pry away a worker who maintained their job throughout the pandemic, which likely reflects stability and mutual satisfaction on both sides of the worker-employer relationship or risk aversion? The answers will help to push against the forces 

Additionally, some workers who did make a move in the past two years are surely unsatisfied. Not every professional relationship is a fit. Perhaps the employee had to settle on a salary less than what they felt they deserved. Maybe the upward mobility a worker anticipated in this market never quite materialized. Whatever the reason for an employee’s dissatisfaction, it’s an opportunity for another company to make its own case and pitch an open role.

The key for employers is understanding that 2022 doesn’t have to be the year of the Great Resignation. What appears to be a bleak labor market is a chance to assess the pros and cons of your business through the eyes of current and potential employees. It’s an opportunity to consider contract positions that create more flexibility for your workforce and appeal to a wider spectrum of workers – including those seeking short-term gigs, or part-time roles.

Employees not currently participating in the workforce won’t hold out forever. But when the time comes and they begin returning to work en masse – and that may be exactly how it unfolds – would you prefer that your business be at the top of the best prospects’ lists or simply settle for whichever workers are left over when the dust settles? By striving now to create favorable compensation packages, clear career-development tracks and an attractive work environment and structure, your business is far more likely to land the employees needed to take it to the next level.

Looking for additional tools to combat the Great Resignation? PeopleCaddie’s talent cloud can provide a stopgap for companies.

We’ve been conditioned to believe that the best jobs are full-time positions. Salary. Benefits. Security. Staff opportunities are expected to be the goal of every responsible adult – especially those with a family and the need for a settled lifestyle. But this isn’t the 1950s, you aren’t your grandfather and even the promise of a gold watch at the end of a long and industrious stint as a full-time staffer can no longer be counted on today. If workers hadn’t received the message before the pandemic flipped the job market on its ear, they’re hearing it loud and clear now: a career is entirely what you make of it. And for many working parents, they’re noticing the benefits of contract work.

Mind you, that’s a good thing. For too long, many American workers felt stuck in full-time roles, with little choice but to slog through the monotony. Working parents, in particular, sensed higher stakes: mouths to feed, insurance to cover their little ones, 401(k)s or pensions to ensure they had something socked away after the kids were all grown up and starting families of their own. The traditional rules, however, are changing.

Today, with more companies turning to contractors, old perceptions about freelancing – namely, that it’s a risky, unvalued, fringe existence – are fading. Contractors increasingly are critical to the mission of most organizations, and are regarded with the same respect and appreciation as full-timers. And as such, many workers – including those with family at home – are beginning to wake up to the benefits of freelancing.

Increased compensation. The vast majority of contractors earn more per hour than salaried employees (more than $5,000 annually, according to one recent survey – but often much more). And unlike staffers, freelancers keep earning anytime they remain on the clock beyond 40 hours. Some working parents can rely on a spouse who receives good benefits through their own employer, but single parents and contractor couples still have options. Many staffing agencies and talent clouds, such as PeopleCaddie, offer their contractors benefits, including robust healthcare insurance coverage – the non-negotiable necessity that had long shackled many full-timers to thankless staff jobs.

Flexibility. Many contract gigs allow for (and, in some cases, encourage) work from home. This can be an enormous perk – not to mention a sizable cost savings – for freelancers who prefer to avoid sending their young children to daycare. Work-from-home contract gigs cut out the daily commute, giving back a freelancer hours in their life and perhaps translating to fewer missed games and recitals. A recent analysis by a Stanford economist showed that employees value work-from-home flexibility about the same as a 10 percent increase in pay.  Contract work also offers more opportunities to slip a foot in the door at in-demand companies, or in specific roles that can help an employee make strides toward the mastery of new competencies. In that sense, freelancers can translate that flexibility into higher future earning power.

Reduced stress. Let’s face it: Many of us are over office life – or were just never hard-wired for it in the first place. In addition to removing the grind of the daily commute, many contract workers are finding an improved work experience with the ability to more easily unplug from office politics, fewer distractions, and the ability to avoid unpleasant engagements with mean bosses. Working at home with kids presents its own set of challenges, but the rewards of those interactions far outweigh anything most parents will find in the office.

Are you a working parent looking for more flexibility? Check out PeopleCaddie’s jobs board.

Amid a pandemic that has forced business shutdowns, created supply chain issues and rejiggered the economy and job market, employers are facing challenges like nothing in recent memory. One of the problems to be solved: employee wages, which rose by an estimated 2.7 percent in 2021, are expected to climb another 3 percent in 2022, according to Kiplinger. Many companies, ready to staff up again after the large-scale layoffs witnessed over the past 18 months or so, are finding employees reluctant to return at or near their previous wages. All of which has forced them to strategize on navigating wage inflation.

This shouldn’t come as an enormous surprise to anyone who has been paying attention. Prior to the pandemic, the U.S. economy – and business with it – had enjoyed a good run. Even now, expected wage increases are projected to fall short of the 2022 Social Security cost of living adjustment (5.9 percent), the largest COLA since 1982.

What’s important to note is that these developments figure to be largely temporary. The federal government is generally favorable to business, and as the economy gradually stabilizes, the job market should follow. The question employers need to ask themselves in the meantime: What should be done until then?

First and foremost, you need a long-tail plan for staffing. Start by assessing your business needs and current staffing status. Are you in a position to wait for the economy and job market to normalize? Take a hard look at your company so that you understand your margins. Where can you afford to pay more? What can be categorized as nonessential expenditures until a recovery is in full swing? You will need to have a clear picture of the ebb and flow of your new business, which may dictate increases or decreases in staff needs.

Begin evaluating your current staffing structure, as well as individual employees. Are they performing at optimum levels? Could your staff be leaner, or at least more efficient? Indiscriminate cuts are risky. Hiring new employees is costly and time consuming, which can create a drag on productivity and depress profits in the long term. If you anticipate an uptick in business sooner rather than later, riding out the storm may be the safest approach.

Keep in mind, a contractor who  $55 per hour. last year may now cost $75 per hour. That, in the short term, is the price of doing business. But PeopleCaddie anticipates a not-so-distant future when wages come down again. In order to compete for top talent and maintain viability (let alone thrive) in the interim, companies must assess and, if necessary, restructure – not just staff but perhaps their entire operations.

Boom times always follow lean periods. Take stock and adjust as needed so that your business is in position to take advantage when the eventual turnaround arrives. 

How can PeopleCaddie help? Navigating wage inflation might be easier with the support of a talent cloud.