People are increasingly accustomed to the consumer benefits of gig economy working models. For example, people enjoy having access to a driver whenever they need one using a ride hailing app, without incurring the cost of hiring a chauffeur. This exact approach is being applied by businesses throughout the world, across a vast range of industries by paying independent or self-employed contractors to complete work on a project basis.
Contracting a self-employed specialist to complete a specific project is efficient and economical. You pay only for exactly what you need and do this whenever you need it. There are also no recruitment agency fees, and no ongoing commitment as with hiring a permanent member of staff.
Independent contractors tend to be highly skilled in one area, so offer value for money as they can yield profits faster. You’re paying for a specialist. They are responsible for their own learning, accreditation and upskilling, so you benefit from their expertise without having to invest in their training. Unlike with permanent employees who may need to fulfil a broad range of duties, when hiring a self-employed worker on a project basis you can find the exact person for the job. Rather than a general marketing employee undertaking a number of tasks which they cannot be equally skilled at, you can find an SEO specialist, for example, to complete one aspect of the project to the highest level possible.
Self-employed specialists complete work for many different companies each year therefore bringing a wealth of experience which a permanent employee might not have access to. They tend to have a real finger on the pulse of industry developments as they’re exposed to multiple approaches and need to remain relevant to retain a competitive edge.
The financial benefits of hiring independent contractors only when you need them are significant. Unlike permanent employees, when contracting someone on a project basis the company does not need to cover payroll taxes, holiday pay, retirement packages, bonuses or insurance benefits. They are paid according to the contract you agree, which is generally tied to the scope of work rather than the time spent working. They therefore do not accrue overtime payments, nor require time off after completing an intense period of work, as permanent staff may.
Short contracts for self-employed specialists give flexibility and control back to the business. The number, and nature, of people you contract can be responsive to your workflow. This means that you can take on more independent contractors when you’re busy, and have fewer people requiring payment if things quieten down once those projects are completed.
Pay Per Project adds an extra level of flexibility. As a South African freelancer platform, we connect you with independent contractors who are in the same country, and therefore might be available for working on your site as well as remotely. We also offer a further financial advantage, as all payments are made in ZAR, meaning no international rates or fees.
In these difficult times, all businesses need smarter choices, and Pay Per Project is proud to facilitate this flexible approach.