Flexing It’s cofounder and CEO Chandrika Pasricha says the numbers of firms looking at hiring consultants on their platform has increased by a whopping 75% in FY20, driven largely by large corporates and enterprises clients
With uncertainty in the business environment amid COVID-19, companies are trying to move their cost structures from fixed to variable. All new overhead investments – new utilities, additional office space – are put on hold. Firms have also frozen all new hiring. But, to wade the firm through unsettled water, organisations are getting freelancers on board instead of hiring full-time employees.
This is not a new phenomenon. Even after the financial crisis of 2009, the growth in jobs came from non-traditional sources, such as gig and contract workers. Flexing It’s cofounder and CEO Chandrika Pasricha says, “Over the last few months as companies were forced to work from home they started seeing the benefits of remote work. This changed mindsets of several traditional companies who are now proactively looking at the option of hiring consultants.”
No wonder the demand for freelancers is growing. Pasricha says the numbers of firms looking at hiring consultants on their platform has increased by a whopping 75% in FY20, driven largely by large corporates and enterprises clients. Unlike popular perception, firms are not outsourcing volume-based, low-value work but highly skilled projects. The value of projects outsourced through Flexing It increased four times in 2019-2020 as compared to prior year.
Source: Business Today
