Outsourcing or Freelance – Which is better?
INTRODUCTION ❖ With the rapid growth and improvement of industries worldwide, the trend to outsource and freelance work has also caught on. ❖ Not just start-ups, but well-established businesses today also want to explore beyond the in-house staff. The practice to hire freelancers in India is becoming highly favourable for these short-staffed businesses. ❖ Investing in these different third-party services has their own pros and cons. Let’s discuss them in detail so that you can make an informed decision for your firm based on your own requirements. www.virtualemployee.com
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FREELANCING ❖ Freelancing is simply an independent profession, where the freelancer works for smaller projects and is paid on a per project basis. ❖ A freelancer is not the employee of the firm it is working for. ❖ It is more like a one-man enterprise that might be working for various jobs from different clients concurrently.
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PROS OF FREELANCING ❖ By hiring freelancers in India, the clients are directly investing in hiring third-party resources for some specific work areas. This implies that they can freely focus on their core business functions. ❖ Easy scalability is one of the biggest perks of choosing to work with freelancers. You only pay for the services required for every project. ❖ Freelancers are usually experienced professionals, who have expertise in some specific functional areas. This ensures that you get high-quality work.
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PROS OF FREELANCING ❖ As they are working from their own homes, you don’t have to invest in additional office costs. Another plus point if you hire freelancers in India. ❖ You don’t have to pay them for the fringe benefits that are a necessary expenditure in case of in-house employees. ❖ Freelancers operate from a flexible working environment, so they are generally open to work according to your preferred shift timings.
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CONS OF FREELANCING ❖ At almost every given time, a freelancer is working on a spectrum of tasks from a varied clientele. This might put your specific work on a halt sometimes. ❖ As freelancers are working on more contracted jobs, subpar output can be another drawback associated with this business process. ❖ Although the service contracts offer necessary safety against data theft, there’s still always a chance of security threats related to proprietary information.
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OUTSOURCING ❖ The process of an organisation hiring a third-party company to execute some specific job roles is called outsourcing. ❖ In this business model, the outsourcing service providers offer their own workforce/resources to the clients for a specific time period. ❖ Outsourcing has numerous benefits for both the parties and hence, this practice is flourishing throughout the globe.
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PROS OF OUTSOURCING ❖ Outsourcing helps businesses save big on labour costs. It is estimated that the cost of outsourcing is about 70% cheaper than the cost of hiring in-house. ❖ Remote employees are highly skilled in their own functional areas. This means that you are investing in high-quality services of skilled professionals. ❖ It enables the business owners to concentrate on their critical business aspects, which is important for the company to run and grow. ❖ Easy scalability is one of the biggest perks of outsourcing. You can simply hire the virtual employees based on your specific project requirements.
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CONS OF OUTSOURCING ❖ If you do not partner with a reliable outsourcing service provider, you can eventually lose control over some aspects of the outsourced tasks. ❖ Lack of proper communication can also come out as a big disadvantage of outsourcing. If you’re outsourcing to an offshore company, your remote employees might not be comfortable with your native language. This makes knowledge transfers and troubleshooting issues difficult. ❖ Outsourcing involves the usage of third-party IT related services, which can pose security risks for sensitive data.
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