Freelancers form a talent pool that can improve your small business, if you decide to hire them. They can do certain tasks for different kinds of projects whether on a short or long-term basis. They have varied skills that allow them to adapt to various organisational cultures. However, you’ll face tight competition for the best freelancers. You have to convince them to work with you. The compensation package you present may entice them to join your company.
When hiring and working with freelancers, here are some of the things your compensation package must include.
Clear and Timely Payout
The role of freelancers in today’s economy is growing; they have leverage because of their varied skills and experience in different industries. One way to attract and retain top freelancers is to provide a clear and immediate payout. A freelancer knows their worth and won’t waste time with clients trying to reduce their payment.
Clarify the fee you will pay and establish a schedule that you will follow. This shows your chosen freelancers you value them and want them to form a long-term business partnership with you. It is also important to determine a platform for releasing payments. You can do it online, bank transfers or other methods you both agree on.
Incentivise Good Performance
One of the reasons freelancers leave their traditional office-based jobs because they feel they aren’t compensated enough. Some of them experience seeing other co-workers make more even if they work less. To retain a freelancer, you must provide them with incentives to deliver their best effort and output. You want them to be as productive as they can be not just for their benefit, but also for the benefit of your company.
Offer a bonus, flexible work schedules, extended leave or others; these are enticing incentives that may make your freelance team do their best. Create clear and measurable metrics and provide your freelancers with tasks within their area of expertise.
Payment Gamification
One of the expert tips on retaining freelancers is to gamify the payment structure. This comes in the form of titles, badges or other forms of rewards when they achieve a certain goal. This approach is similar to what happens in games when a character levels up or finishes a task. Break down your long-term goals into smaller achievable ones. Reward your freelancers once they accomplish the small and short-term objectives.
Inclusive Effort
Freelancers may not be fully part of your company, but they want to feel like they belong. Include them in organisation-wide activities, send them to training seminars and lectures, and if they live in another city or country, bring them in to meet them in person and introduce them to your team. These little things allow you to make a personal connection with them.
This compensation blueprint keeps your team of freelancers satisfied with your company. This may boost their productivity, effort and may lead them to stay with your organisation for a long time.
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