Common Misconceptions about Adding External Talent to Core Teams
The future of the workplace is changing. Flexibility and innovation have become the driving forces behind business success, altering traditional business models and re-defining workplace expectations and realities.
Yet with any catalyst of change, it takes time for businesses to unravel and reap the true benefits of fresh resourcing models, and welcome the pool of specialised talent available to them at the touch of a fingertip. Much of this stems simply from a fear of the unknown, alongside a struggle to dissociate the stereotypes and stigmas attached to freelance work that have plagued the pace of progress in recent years.
In Part I, we began to debunk the myth of the freelancer, and reveal the advantages of embracing the gig economy and accessing the global network of talent available to help align and improve business strategies and incentives. It is now time to deconstruct the myth further, and explore other common concerns over hiring independent talent, as businesses continue to develop and enhance the future workplace.
- “Isn’t it costly?”
A prevailing misconception: that independent workers on day rates are much more expensive than full time hires. Added to this, is there any real guarantee that hiring independent talent will be worth the cost in the end?
In fact, employers can save up to 30% by hiring an independent consultant over a full-time employee, who would come with a range of extra costs (NICs, pension schemes, holiday pay, to name a few). At Talmix, our consultants have up to 40 years’ experience in their field, saving businesses on the costs of training, onboarding and management, and allowing them to meet high demands while keeping overheads low. Outsourcing transactional functions can help save costs further, and free in-house staff to implement business strategy. According to an IPSE report, UK freelancers generate an estimated £4.6bn in benefits for their clients. Independent workers are flexible resources for changing demands and are worth every penny.
- “Am I taking a huge risk?”
One concern is that the hiring of an independent worker offers no guarantees that the work will be completed to the highest standard. There also remains a concern that freelancers could simply abandon their post and pass on critical institutional intelligence to rival businesses. Managing multiple sources feels like it could be an unwanted overhead.
At Talmix, all our consultants and their credentials are pre-vetted, creating a talent pool of the most highly-respected and experienced professionals in their fields. Coupled with the fact that a freelancer’s reputation is inherently tied to their success in the field, it is in their best interests to produce the highest standards and best results. Such motivation and enthusiasm can be infectious around the workplace and inspire others to thrive. Ultimately, the professionalism, specialised knowledge and enthusiasm of independent workers play a critical role in ultimately reducing business risk for organizations. For that added security, non-disclosure agreements can be signed as part of the contractual process.
- “It all sounds a bit too much like hard work”
It’s not that businesses are lazy. It’s simply a common corollary from not knowing how to actually kick-start the process of creating a network of independent talent, that businesses jump to the assumption that the entire operation is more hassle than it’s worth.
The process: The process of finding business talent can be a smooth operation if done correctly. At Talmix, over half of our customers have connected with the person they ultimately hire in under 24 hours. From then, the platform can begin to build your network of business connections based upon your past, present and future needs, keeping you one step ahead of the game at all times.
The results: The talent that you are ultimately connected with are specialists in the role or project they are chosen to fulfil. As such, they don’t require additional training or supervision, thus reducing the management burden. As organisations face consistent regulatory changes, the work of independent talent will become an indispensable asset, if companies are to stay competitive in an ever-changing business market.
It’s easy to bring in the ‘good enough’ talent, but connecting to the right talent is what ultimately grows your business and your reputation. Start today right here, and stay ahead of the game.