Got project deadlines and work piling up? There might be a reason for it. And it's not your effort that is lacking, it's most likely your company's hiring strategy.
Traditionally we would delegate work to our marketing, design, PR, and web development teams. However, many businesses are still recovering from budget cuts implemented during the pandemic or the very tight labour market on permanent employees.- with the following departments being cited as some of the most affected: hiring, marketing, advertising, and events. When you couple this with the fact that working from home is changing how we do business, it’s apparent that the classic company model can’t keep up with all these changes.
For example, three out of four businesses have skills gaps that seriously affect their operations and growth, and 73% of hiring managers say talent shortages are their top hiring challenge. As consultancy firm McKinsey notes, these problems stem from inadequate tools, planning, and communication surrounding traditional management strategies.
Suffice to say, the way we recruit top talent is changing. So, with this in mind, we’ve created a checklist for future-proofing your business’ hiring strategy.
There’s lots to cover, so let’s dive in!
Step 1: Embrace a Flexible Workforce
In recent years, the rise in working from home has been the most significant change in business dynamics. Initially, when remote working became a necessity during the pandemic, many saw it as a cause for concern and a barrier to doing business. But, in reality, that hasn’t been the case. In fact, studies show that working remotely is linked with an 83% increase in productivity. That as well as improved creativity to better work-life balance.
With much to be gained from remote working, it’s no wonder that 75% of major firms worldwide have already introduced more flexible policies. Reports from the Chartered Institute of Personnel and Development similarly support the move, espousing the long-term health benefits of flexible working. That’s in addition to improved job satisfaction, higher staff retention, and better inclusiveness and diversity.
What Is Flexible Working?
Firstly, flexible working isn't necessarily an all-or-nothing approach. Remote working is one option that can be integrated into a hybrid working culture, allowing you to manage both on-site and off-site teams. Or, you can go fully remote. Whatever model you opt for comes down to the needs of your company.
At this point, it’s worth clarifying that in addition to your regular employees (whether they be on-site or remote), it’s worth considering freelancers. Freelancers are self-employed contract workers who provide services on-demand. Their time with a business needn’t be long-term; instead, you hire them only for as long as the company needs their services.
As such, adopting a more flexible approach to work may extend to taking on freelancers to:
Diversify your talent pool
Cast a wider hiring net for skilled talent
Cover more hours with international workers
Reduce on-site overhead costs
…to name but a few reasons you might want to consider adding freelancers into the mix.
Step 2: Find the Right Freelance Management System
To facilitate the benefits of flexible working, we need to know the ins and outs of freelance hiring, including technology that can foster collaboration and engagement. One such answer is to utilize a freelance management system. Let’s explore that in more detail…
A freelance management system, or FMS for short, is software designed to help businesses manage hybrid/remote working scenarios. For instance, a high-quality FMS should come with several features to foster better collaboration between you and your freelancers. For example, it should enable you to build a talent pool, onboard freelancers, assign projects, manage invoices, and handle legal compliance - to name but a few features a first-rate FMS should offer!
Once you have found the right FMS, it’s time to dive into the full potential of a flexible hiring strategy and start managing your freelancers.
Step 3: Plug Skills Gaps
A significant drawback to employing just an on-site team is that your talent pool is restricted to localized workers. As a result, you could be missing out on better talent from further afield. Not to mention, you might be stifling your team’s diversity.
Needless to say, teams suffering from skills gaps will be hit the hardest by this. If this is something you’re struggling with, the idea of contracting a freelancer for the first time can feel intimidating. For instance, what are the legal and financial implications of taking on a freelancer?
This is where a best-in-class FMS becomes essential.
A robust FMS will have compliance and various legalities built in. For instance, it will help you tackle international employment law, taxes, and pensions. For example, you should be able to manage and store all legal documents and share them with the freelancer in question so that everyone's on the same page.
The FMS provider acts as an intermediary representative between you and the freelancer to help ensure you comply with local regulations without having to be physically situated in the country of hire. This makes it a safe and easy option for cultivating a more diverse team.
On top of that, the right FMS will also provide you with the tools you need to manage your freelance network. For instance, within a few clicks, you should be able to filter your freelancers according to their skills, qualifications, rates, location, availability, language, experience, etc. Then with that info to hand, you can match them up with projects accordingly.
Step 4: Foster Better Communication
Hiring managers know the HR landscape is changing. According to a 2022 report by LinkedIn, a one size fits all approach is no longer an option. In fact, a Deloitte study highlights impersonal relationships with workers are linked with low retention and high turnover.
Again, this is where FMSs come into their own.
Namely, they provide the tools you need to encourage better communication between your remote and on-site teams. This goes a long way to enable you to build more effective, longer-lasting relationships with freelancers while ensuring your projects stay on track. A decent FMS will ensure that everyone working on the same project can seamlessly exchange ideas, ask for help, provide updates, etc. This creates a working culture that fosters independence, as workers know exactly what task to work on and to who to direct their queries.
Step 5: Get More Done By Layering Work
Once you have a platform to help you manage your freelancers, you might be tempted to employ an international team. This lets you get work done literally overnight because you can schedule tasks according to your freelancer’s location and availability. Make the most of your international team’s varying schedules to offer 24/7 support, problem-solving, and more.
Step 6: Widen Your Talent Pool
Building on some of the points we’ve already made, you’ll have the tools you need to quickly add prospective freelancers to your talent pool with an FMS. The benefit of continually expanding your freelance network is that you’re less likely to be short of candidates who can take on new projects.
With FMSs like Bubty, inviting freelancers to your talent pool is easy. Just provide their name and email address, and an invite will be sent requesting them to join your network. On a similar note, if you're currently managing your freelancer information in a spreadsheet, you can import this into Bubty to create a live talent pool with just a few clicks.
An FMS also makes it easy to re-engage freelancers as and when they’re needed. For instance, most high-quality software lets you and your team leave notes about your previous dealings with the freelancer. When you couple this with the ability to see which freelancers are ready to take on roles in real-time, you’ll be better positioned to hire the best freelancer for the job.
So, What's Next?
Today, we've looked at tasks businesses can check off to make the most out of flexible working. From employee acquisition to management, contemporary strategies need a fast and reliable way to keep up with the ever-changing world of recruitment.
Bubty is one such FMS solution for businesses wanting to digitize their hiring and management approaches. We provide the tools you need to help you overcome barriers to remote growth, such as:
Project management facilitation and organization