Firms willing to pay over the odds for top freelancers

With concerns growing over the “great resignation”, and companies struggling to find suitable candidates, freelancers are witnessing huge demand, with many bosses claiming they are willing to pay whatever day rate it takes secure the best talent.

That is the standout finding from a new study by freelancer website PeoplePerHour, which shows 84% of bosses believe freelancers can make a positive difference to their business, with nearly half (45%) more focused on quality than cost when hiring.

A fifth (20%) said they would pay whatever rate it takes to get the best person for the job, with London the top city for businesses using freelancers, followed by Manchester and Birmingham.

When it comes to the sectors where demand is highest, marketing and communications is way ahead of the rest, with areas such as growth hacking (+2,050%), influencer marketing (+1,618%), content marketing (+985%), and Instagram marketing (+1,109%) witnessing a huge rise in the number of projects posted on the platform in 2021 compared to 2020.

Another strong performer was marketing for WeChat, the Chinese messaging, social, and payments app, which saw a 560% growth in projects listed last year as brands target international growth.

Retail businesses were most bullish about hiring freelancers, with 25% increasing their freelancer budget since Covid started, compared with 18% of all businesses overall. Retailers also expect freelancers to become more important, with 83% looking for temporary help in the future, compared with 80% overall.

The platform has seen a 48% year-on-year rise in freelance registrations, and a 24% year-on-year increase in the number of businesses signed up.

PeoplePerHour founder Xenios Thrasyvoulou believes the finding show attitudes to freelancers are shifting.
He commented: “Where once they were considered a last-minute stopgap that garnered the bare minimum of investment, we’ve seen an increasing acceptance of the value freelancers bring.

“Due to a combination of changing perceptions on different forms of working and pandemic-driven resignations, we’re seeing more buyers focusing on the quality of the work they can get, rather than treating it as a way to cut costs.

“More sectors are being affected by staff shortages, as employees seek more flexible employment or strive for a greater work-life balance. Many of those leavers become freelancers, so while their departure does leave a gap, it also helps boost a talent pool that businesses can tap into quickly, without disrupting their day-to-day operations.”