Freelance work has been increasing in popularity immensely over the past several years and it does not appear to be slowing in momentum anytime soon. In 2016 alone, $5 billion was processed by companies like Freelancer and Upwork which are staffing platforms that do the entire process online.
Companies like Upwork, founded in 2015, make it easier for small businesses to lower their costs by having to hire fewer employees. Hiring freelance work can potentially save companies a good amount of money over the years. In 2020, it is expected that the world’s workforce will be comprised of up to 50% of freelance workers instead of traditional methods of employment.
There are many different organizations that use freelance platforms like Upwork, they range from nonprofits all the way to multinational corporations. By being able to hire people from such a large pool of candidates both in person and online, they are able to choose from many more candidates to find the person that is right for the specific job at hand.
Additionally, this process can save employers a lot of time in the hiring process as hiring a freelance worker to complete an assignment generally takes a considerably shorter length of time.
With the growing number of freelance workers, health insurance and other services are a big concern to many people. The Freelancers Union that was founded in 2001 has been providing these services to their members which number in the several hundred thousand. Over the years, these concerns have been an issue among many different freelance professions, but sites like Upwork have made it easier for these workers to find a steady stream of jobs with guaranteed and timely compensation.
When Upwork was first founded in 1999, it went by the business name of Elance but rebranded to Upwork Global Inc in the year 2015. There are millions of users of Upwork, 5 million clients and 12 million freelance workers. It holds the title of one of the largest freelance marketplaces in the world with a current value of around $1 billion.
Find out more about Upwork: https://www.crunchbase.com/organization/odesk