Amy Power believes everyone has a powerful story. She is the Founder and President of The Power Group, based in Dallas, TX.
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Since the Great Recession that began in 2007, the burgeoning gig economy picked up steam and began to grow at a rapid pace, and it shows no signs of slowing down.
Prior to the pandemic, it was reported that six of every 10 workers in the U.S. will work as an independent professional by the year 2027. That trend appears to be accelerating post-Covid. UpWork recently released a study indicating that 20% of American workers — approximately 10 million individuals — are considering a freelance career, with the majority citing a desire to work remotely as their primary reason.
The gig economy works when both sides of the equation — talent and companies — buy into it. Alongside the growing pool of freelance talent, organizations are increasing their use of contingent workers. Last year, an ADP study found that U.S. businesses grew contingent workforces by 15% over a 10-year period, equating to 6 million more “gig” workers in the workforce in 2020 compared to 2010.
Agencies Are Poised To #Win
This is all great news for agencies because our business model thrives on contingency. Companies hire us to supplement their internal needs. On the staffing side, agencies offer a great place for new professionals to get their start because the nature of our work is varied, fast-paced and multi-faceted. As digitization constantly changes the ways in which we communicate, marketing skills are becoming more and more specialized. This can present unique challenges in meeting client needs with internal staff alone.
The Great Contingency Success Model
In recent years, I’ve developed a blended workforce model of staff employees supplemented with freelance talent. In doing so, we’ve been able to expand into serving new industry verticals, as well as extend our traditional PR services to include social media, influencer marketing, digital marketing, websites and graphic design. I’ve also been able to bring in senior-level talent on a fractional basis, which benefits both my clients and my internal staff, as well as my bottom line.
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Engaging freelance talent in our business doesn’t mean that I’ve left it up to chance, however, and the model will only work if you approach it very intentionally. Throughout this journey, I’ve identified four critical success factors that make the model work.
1. Get clear on your values. Having a clearly articulated set of core values is the hallmark of employee engagement. Freelancers have their own “brands,” and they have to share your values in order for clients to believe a holistic team is in place. In a case where your freelancers are managing internal staff on accounts, this is even more important.
2. Extend logically. Of all business leaders, agency owners truly understand that the “riches are in the niches.” Staying true to your core business is vitally important, so if you extend to offer other services to your clients through freelance talent, make sure those services make sense in the context of your business. This will help you maintain your competitive edge in the marketplace and will also help you attract the right supplemental freelance talent to your team.
3. Blend talent into a ‘one team’ philosophy. Freelancers may only make up a fraction of your workforce, but they are just as important to your success as your full-time talent. Be sure to develop protocols for both, ensuring accountability across your collective team, and also be sure to celebrate your successes the same way. An “us” and “them” approach between your staff and your contingent talent can breed disconnection and discontent and will likely increase turnover. Treat them like the contract family they are.
4. Network, network and network some more. Outstanding talent usually isn’t advertised. In my experience, quality talent — whether it be a full-time hire or a freelancer — is found through relationships and referrals. This means not only joining but becoming actively involved in associations within your industry or the industries of your clients. This includes tapping your freelance talent for referrals to other freelancers or staff.
Agencies fill a unique position in this changing economy because we can offer a variety of fractional talents to companies who might struggle to fill such skill gaps with regular, full-time employees or their own stable of freelancers. Engaging in a blended model of staff and freelance talent within an agency can help you be a more valuable partner to the clients you serve. It also creates a wonderful opportunity for new generations of agency employees to grow by exposing them to outside talent with unique skills and experiences.
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Author: Amy Power, Forbes Councils Member
