May 18, 2022: Forrester released The Freelance Talent Marketplace Landscape, Q1 2022, with Vicoland included amongst 7 recognized talent marketplaces for Vico Freelance Teams. For 3 months, Vicoland will provide their customers exclusive access. Access the full report via the form above.
Some estimates predict the majority of the US workforce will be freelancing by 2027 (Statista).
Mercer recently found that 60% of executives say they will substantially replace full-time employees with independent workers in the next 3 years. Meanwhile, Harvard Business Review found that 90% of the leaders they surveyed—C-suite and frontline—believed prioritizing freelance marketplaces will be core to their ability to compete in the future.
The data is clear – the freelance economy, also called the independent contractor economy, is rapidly becoming a talent strategy every organization needs to prepare for.
How freelancers can help your organization?
According to the Forrester report, The Freelance Talent Marketplace Landscape, Q1, 2022, there are three main scenarios freelancers can help your business.
- Completing a task or supplementing a team
- Engaging a team to deliver a small project
- Hire an executive consultant or project manager
Why freelance marketplaces?
Freelance marketplaces are the bridge for your organization to start working with freelancers. The Forrester report noted the key business values of freelance marketplaces as:
- They help freelancers find work and build a business.
- They match freelancers to jobs and simplify the engagement with firms.
- They help employers scale their use of freelancers.
Identifying Which Platform Is Right For You
Forrester provides descriptions of 7 freelance marketplaces, including Vicoland, and recommended a 4 metric criterion when evaluating different providers.
Deeper than any metric, freelance marketplaces aren’t a one-hit wonder, they’ll most likely become a longstanding partnership helping you think strategically about freelance talent acquisition.
Are You Early Or Late To The Party?
According to the Forrester report, the freelance economy is an emerging market, with “hundreds of freelance talent marketplaces covering the waterfront of skills of every kind”.
Last year the US economy spent $1.3 trillion dollars on US freelancers.
Where Are The Trip Wires?
Hiring a freelancer is still years off from the experience of calling an Uber. According to the Forrester report, the primary challenge is “integration into enterprise hiring and sourcing systems”. Whether VMS’s, MSP’s, or the various talent sourcing systems and talent agencies, scaling the usage of freelancers can come with many hurdles.
There are also serious scale considerations since you’ll be engaging with hundreds of thousands of freelancers alongside additional performance data that can quickly become too difficult to manage.
What Can We Expect?
The freelance economy is constantly evolving. At Vicoland, we’ve seen the rapid rise in freelance teams to help enterprises scale their digital projects. We’ve built industry-leading software to help freelancers form teams, in turn helping enterprises connect with high-quality teams, and are at the forefront of helping organizations mobilize their own Human Cloud.
We’d love to show you a demo, break down your company’s requirements, or check out our new assessment tool.