How Businesses can Work Smart During the Pandemic

Since COVID-19 was declared a global pandemic, entire nations have gone on lockdowns causing adverse effects on worldwide economic activity. Similarly, the epidemic has driven Australia into its first recession since the 1990s as the country’s stock market tumbles and fluctuates. During these difficult times, it can be challenging for businesses to keep track of their activity. 

As most organizations are operating through the virtual space, trying to cover the losses caused by the lack of economic activity, it is necessary to work smart rather than working hard. It would be naive for companies to continue operating as if nothing has changed when, in reality, the pandemic has altered the way global economies operate. Moreover, it is unknown when and if the pandemic will be over and what changes will be brought afterward. Hence, businesses must determine smarter and calculated ways to move forward. 

The freelance market consisting of a large and diverse talent pool, revolutionized the business environment long before companies were forced to operate remotely. Freelancers and independent consultants are experts when it comes to remote work, and they provide services in an increasing range of functional areas.  

Many growth-driven companies have realized the value of freelancers for business continuity and profitability. 

Numerous examples can be examined to understand the benefits of virtual advisors and consultants. Foreseeing the current situation, consider virtual financial advisors and planners. They are necessary for small to medium-sized businesses, but there is no need to hire one on a full-time basis. Freelance financial advisors employed on contracts can use their capabilities and experience to set up accounting processes to monitor and manage expenses. 

Digital innovations have enabled financial planners to create a valuable niche for their profession. They now offer their services working from home, and they are needed more than ever during the turbulent times of COVID-19. As the country is in a recession, many business need assistance with capital determination. Experienced freelance financial planners are very useful for financial management. They can easily deduce the composition of your capital and determine your requirements for business expenses while making sure your ROI is maximized. 

According to Forbes, a report from BTG concluded that freelance management consultants and interim executive positions are highly in demand. The report further determined that this increasing focus towards freelance experts is caused by radical and rapid changes in the business landscape. These findings are clearly understandable as all industries are going through turbulent changes. Experts who have operated in a remote environment for a long time can easily navigate businesses through these unknown shifts. Consultants can formulate strategies for virtual operations, guide firms to tackle the complex problems of the new landscape, and train the employees to fulfill business goals despite the surrounding uncertainty of the pandemic. 

Now you might be wondering why go to a freelancer when you can hire a full-time employee? 

Above all, They are much more affordable. Companies pay freelancers for the time they spend working on the contract or the specific job; therefore, they don’t cover taxes, sick leaves, holidays, worker compensations, and health benefits. Remote workers are also independent and self-motivated, so there is little or no need for supervision. The digital nature of the market allows businesses to hire freelancers from different time zones; hence they provide flexibility. Moreover, client reviews and feedback are essential for them to generate leads so you can always expect out-standing work quality. 

To read more about the advantages of hiring freelancers to read our article on Growth Orientated Businesses are Adopting Staff Augmentation

In conclusion, our advice is “Work Smart,” approach the gig economy in these turbulent times and acquire the skills of experienced professionals. We are here to make these inescapable changes beneficial for your business. At ConsultXperts, we understand that finding qualified and reliable freelancers can be exhausting and time-consuming, so we have taken extra measures to ensure your business can easily access the best freelance talent available in the market. Our platform operates through a team dedicated to matching your jobs to the most suitable candidates we have available. You can book a demo to learn how we operate and how you can gain access to experts with years of industry experience. 

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Author Since: May 7, 2020

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