April 26, 2020
As individuals we are limited by our skills and capabilities. The common phrase, “Teamwork makes the dream work,” implies a simple truth which is: when people come together for a common cause, remarkable things happen. Whether it is scaling the heights of Mount Everest, crossing an Ocean, putting man on the Moon, winning a World Cup or World Series, or building a successful enterprise– a group effort is required to attain the majority of humanity’s great feats.
Organizations use teams as opposed to individuals for the purpose of problem solving, foster creativity and innovation, increase efficiency, boost productivity, and more. When teams join together they offer different perspectives, share responsibilities, generate more ideas, and achieve greater results than any single individual person can. However, building a team is not that easy.
There are many challenges in bringing people together as people have to trust each other, before they can work together and achieve results. Creating trust and synergy is time consuming, expensive and requires continuous focused effort. FreelancingTeams takes away the complexity by bringing compatible people together in advance thus eliminating the need for you to go through the complex team building process.
Finding the right talent can be very expensive as it involves multiple internal and external costs.
The internal costs are those incurred during the recruiting process such as cost of recruiting departments, referral bonuses, time involved in interviewing prospective candidates and necessary infrastructure to support the process. External cost includes advertising on job boards, agency fees, attending job fairs or hosting hiring events, etc. According to Glassdoor, the average cost of technology hire is approximately ~$10K USD, and it reaches upward to $50K for specialized technology roles.
Once the right candidate has been identified, there are additional on-boarding, training and development costs. Additionally, the employee may go through additional training and development before being fully productive. Given the high cost of individual hire, putting together a team can quickly add up ~$100K.
FreelancingTeams leverages 150M+ professional freelance community building teams, thus cutting down significant upfront costs. Since the teams are built based on freelancers’ personal networks, we reduce the need for building trust, creating synergy, and team development.
Similar to the high cost of recruitment, it also takes significant time finding and on-boarding the right talent. According to Glassdoor, it takes approximately 52 days to fill a position. Putting together a team of 5 members takes an average 3 to 6 months. In addition, organizations spend additional 52 hours per person in team building activities. FreelancingTeams saves a considerable amount of time by offering on-demand teams.
Technology is rapidly evolving with many new programming languages, frameworks, software applications, tools and services. These advancements lead to many specialized roles and responsibilities. A designer role is a good example. Until a few years ago, a designer role was proficient in all types of design work including print, copy and web design. Today, due to numerous technological advances in design, there are many different specialized roles such as creative designer, graphic designer, UI designer, web designer, mobile designer, etc. It gets even more complicated for emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), Analytics, etc.
To establish a successful team, it requires an expert knowledge of various roles and responsibilities. FreelancingTeams takes away the complexity and guessing game by creating market ready teams, which contains standard roles & responsibilities.
To maximize the utilization, it is quite common for organizations to bring random people together to achieve results. It is not rare to see a graphics designer pulled into work on backend activities just because he or she is a developer. This is similar to having an ENT specialist pulled in to performing a brain surgery. FreelancingTeams brings specialized talent together, leading to high quality results.
Employees join an organization with certain expectations. When those expectations are not met people leave, leading to a higher attrition rate. According to Zenbenefits, the average attrition rate is 17%, and for some technology companies it is 23%. When an experienced employee leaves the company, it takes approximately 3 years to recoup the knowledge that was left with the employee. With FreelancingTeams, you can reduce the risk of attrition.
In summary, FreelancingTeams proactive approach reduces significant cost, time and effort required to establish internal teams. The on-demand nature of the FreelancingTeams helps organizations to leverage highly skilled talent faster, and the flexibility to scale up or down based on the market situations.