Having dedicated employees in your company can be very beneficial, with a team focused solely on the mission of your business. While this has been a part of the traditional business model for quite some time, it has become increasingly popular for companies to seek alternative structures for their work teams. More specifically, the use of individual contractors is more practical for some businesses. Though enlisting the services of private contractors is beneficial, it is important to also understand the potential challenges and how safeguards such as gig insurance make it easier to use these types of workers.
It may very well be in your company’s best interest to hire freelancers to get the job done. Some of the benefits include:
- Reduced need for training
- More room for flexibility
- Ability to pay for only work performed by the hour or set contract
- No need to cover benefits
- No designated area needed more freelancer to set up in most cases
Though utilizing individual contractors can reduce expenses compared to fully compensating an actual employee, it is important that the proper protections are put in place. For example, gig insurance, occupational accident insurance or similar coverages can help protect both contractors and employers from mishaps that may occur while a contractor is working for a business, even temporarily. Once those are established, you can take full advantage of what these skilled workers must contribute without worrying about costly mishaps that might occur on the job.