With the recession in the global economy cost cutting has become the number formula for survival for both companies and individuals. Developing countries with their cheap labour have gained a lot of attention. Words like Work from Home (WFH), freelancing and make money online have replaced office jobs and permanent jobs.
Benefits of WFH Approach To Employers
An Employee working from home means you save on office space and admin costs
Employers are not restricted to provide services to their clients 9 to 5 due to cost constraint.
Hiring Cheap International labour becomes easy as there are no immigration and visa related restrictions
Due to different time zones, client can be serviced 24/7/365 days a week.
Benefits of WFH Approach To Employees
Employees working from home save of the travelling costs
They can work flexible hours
Working Parents can save by not sending their kids to day care nursery.
They can earn in foreign currency.
Cost cutting doesn’t stop here. There is a possibility to save further. That is through freelancing. Work from Home coupled with freelancing makes a very attractive combination.
Benefits of Freelance Approach to Employers
There is no retention cost as the freelancers are paid for projects rather than a monthly figure.
Money is paid according to quality of work required and hence is cost effective.
The cost matches with the demand and supply.
There is no idle staff or overburden staff. Hence no forced holidays or overtime expenses.
Benefits of Freelance Approach to Employees
They are their own bosses and decide when to work and when not.
They are not bound by hours and can decide to finish a job early though they do have deadlines to meet too.
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