The workload for independent contractors is on the rise as companies continue looking for ways to cut costs while maintaining productivity levels. The good news for freelancers comes at the expense of employees as small business salaries took a .04 percent dip in June. That's according to a survey from SurePayroll that shows average salaries declining (except in the Western region) by more than $200 since the start of 2008.
Where are companies spending the money they're saving on salaries, payroll taxes and benefits? Hiring freelancers, of course. In fact, SurePayroll indicates June is the fifth month in a row that saw a rise in companies engaging contractors. Breaking down the numbers, the survey indicates there are around 3.54 contractors for every 100 employees. That may not seem significant, but you can expect to see those numbers increase as the economy continues to tighten the purse strings of employers. Hiring freelancers can be a less expensive option that comes with an easy out once a project ends.
As a freelancer, the key is to take advantage of the "positive" shift in the market. Do you use economic realities as a marketing tool? Let us know if your marketing efforts tout the cost-savings benefit of using your freelance services.
