Few years back only start-ups used to hire freelancers, but nowadays, large MNCs are following this trend. The corporations have realized that gig economy is equally relevant as any other type of employment and they also know how this is can considered as important lever for future growth. The primary reasons consultants opt for freelancing is that it offers flexible models of working, new age technology projects and much more challenging work. Lot of credit goes to the online platforms which work as bridge for both, organizations seeking talents and individuals seeking challenges and right compensation for their talent.
The rise of freelancing platforms can be more eased by providing global marketplace for businesses to help them outsource work at affordable price and help freelancers build their livelihood on their terms and by doing what they like to do. These platforms can provide global marketplace for project execution and consulting giving a boost to the gig economy, but the freelancers look for some important factors in these platforms
As a freelancer one prefers to join an online platform only when there are enough projects and quality ones to help them work whenever she wishes to work on. Freelancers like any entrepreneur prefer a good pipeline of projects to ensure continuity with good challenges. Most freelancers register on multiple platforms like Freelancer, Upwork and FlexC for their livelihood. The market is full of potentials and so, the need for steady flow of demand is expected. The online platforms providing quantity, quality and relevancy are appreciated by these solo entrepreneurs.
One of the biggest problem freelancers face is timely payment for the projects they work on and sometimes they even never get the payment. So, when the individuals sign up for the online platforms, the first thing they prefer payment protection. Also, whether they will be rightly paid for their labour or not. Platforms need to make sure right contracts with organizations to block the payment through multiple means. Once the project is executed with satisfaction, the payment can be released to the freelancer. Also Organisations look for Warranty of deliverables which platforms need to ensure contracting with Consultants as well.
One cannot deny the fact that there is huge economic disproportion when it comes to paying freelancers. Online platforms need to offer work opportunities at a nominal percentage of charge. Freelancers look for right balance of compensation, quality and flexibility and these platforms provide fine balance of compensation, freedom and challenges as well as future to them. As far as the monetary inequality between West and India is concerned, it is believed that as the quality expectations will increase, so will the compensation.
Recent surveys show that many millennials and GenZ are embracing the self-employment, independent freelance lifestyle than traditional single employment. The autonomy gives them individuality, purpose and freedom from compulsive work schedule. Online platforms need to built in experience — gaming, amazon like , ready environments etc. to engage millennial workforce on the platform
To sum it all, the space of freelancing platforms is about to be disrupted. This can actually be a good platform for individuals to become entrepreneurs.. The future of online platforms and freelancers in India is bright. One can expect an upward swing because India is already in the list of top 10 countries for freelancers.