Advantages of Freelancing
There are many advantages to freelancing as a skilled trades professional. Some of the advantages include the ability to:
- Set own work hours.
- Increase employment opportunities.
- Increase weekly work hours.
- Charge a premium rate.
- Develop multiple specializations.
- Reduce monthly income fluctuation.
- Transition to small business ownership.
Let us look at each of these in a little more detail.
Set own work hours
A freelancer can easily specify available work hours. For example, if one is busy with another task before noon, work hours can specify an availability after lunch time. Another person may be occupied on Mondays, but available on Saturdays. By selectively indicating availability during the week, the freelancer achieves greater freedom to select working hours than, for example, a full-time employee who is required to work from nine-to-five from Monday through Friday.
Increase employment opportunities
Some employers are not in a situation to hire an individual on a full-time basis because of financial constraints, or there simply is not enough work to keep a person busy on a full time basis. For example, a small office with a 1000 sq-ft area may only require a professional cleaning once a week, and this cleaning may only take one day. In this case, the office still needs a professional cleaner, but only on a limited basis.
So it is possible to increase the opportunities for employment by being available to the employers who only need services on a periodic basis, or for less than a full 40-hour work week by freelancing.
Increase weekly work hours
Some skilled trades employers are only able to provide work when work is available, although they may make accommodations to provide a minimum number of hours per week, or a minimum number of hours for each day a visit is made to the work-site.
In this case, an excellent way to increase the total number of work hours which are completed is to work for two employers on separate days of the week. For example, one may commit to availability to the first employer from Mondays through Wednesdays, and to the second employer from Thursdays through Saturdays. When the employers know in advance which days the freelancer is available, they will also try to accommodate work during those days of the week.
Charge a premium rate
The employer enjoys significant cost savings when utilizing freelancer workers because many of the obligations associated with full-time employment such as health care, vacation pay, employment insurance, pension contributions, etc. do not have to be paid out to freelance employees. And freelancers do not have to be kept on payroll during slower periods, thereby providing the employer greater flexibility to control monthly wage expenditures.
Because of this, the employee can actually charge the employer higher hourly rates and still deliver a lower total cost of employment. This allows the freelance worker to charge higher rates than what would normally be paid to the full-time employees.
Develop multiple specializations
By freelancing the employee can effectively try out a new profession or specialization within an existing profession without having to give up the security of the primary income stream. For example, an electrician who has been working in the profession for many years may be interested in the potential of working as a real estate professional, but does not want to risk loosing the income from the existing work. So in this case the electrician can try freelancing as a real estate professional on evenings and weekends to develop a better feel for the new profession without sacrificing existing income.
Reduce monthly income fluctuation
Another key advantage of freelancing is that there is more stability in monthly income when working for two employers. If the hours of one employer are reduced or eliminated, at least there is another employer who can independently continue to provide work and income. So the risk to a significant drop in income can be dramatically reduced when working as freelancer with more than one employer.
Transition to small business ownership
Freelancing is a form of self-employment, meaning the employee is responsible for his or own income generation by working directly with clients. It can be a great way to gain the confidence, financial resources, and experience that is needed to transition towards a small business ownership.
Owning and operating a small business provides an opportunity to employ others. This provides the means to take on more complex and rewarding assignments, but it also involves greater responsibility, and should therefore by approached gradually. Starting as a freelancer can serve as an excellent foundation leading up to small business ownership.
Freelancing as an employee offers many benefits in comparison with traditional employment with a single employer. Online services are now available that make freelance employment more practical than ever. For instance, at greatesthire.com it is possibly for the freelance employee to specify available work hours. This makes it easy to apply for multiple job openings in order to freelance with multiple employers at the same time.Post by: Greatest Hire