2,761
edits
Upwork: Difference between revisions
Simplification of Headlines. A headline always has to have a certain importance otherwise it cannot be a headline as it is making the table of content more complex than necessary. Use bolt markings instead.
No edit summary |
(Simplification of Headlines. A headline always has to have a certain importance otherwise it cannot be a headline as it is making the table of content more complex than necessary. Use bolt markings instead.) |
||
| Line 88: | Line 88: | ||
The company generates marketplace revenue through services such as Project Catalog, Talent Scout, Client Marketplace plan, and Upwork Enterprise. This is the largest source of revenue for Upwork. For instance, in Q3 2022, the marketplace constituted 91.77% of its total revenue. Below is a brief description of each of these services. | The company generates marketplace revenue through services such as Project Catalog, Talent Scout, Client Marketplace plan, and Upwork Enterprise. This is the largest source of revenue for Upwork. For instance, in Q3 2022, the marketplace constituted 91.77% of its total revenue. Below is a brief description of each of these services. | ||
'''a. Project Catalog''' | |||
Project Catalog enables freelancers to sell their services directly to clients. Upwork reviews each project catalog to ensure they don't affect the quality of the platform. When clients need certain services, they search and browse through the various Project Catalogs. They can also send messages to the owner, and if they are contented that the catalog is what they are looking for, they can make a purchase<ref>https://support.upwork.com/hc/en-us/articles/360058234233-Get-Started-with-Project-Catalog-</ref>. Upwork will then deduct the 5-20% fee from the freelancer's earnings. | Project Catalog enables freelancers to sell their services directly to clients. Upwork reviews each project catalog to ensure they don't affect the quality of the platform. When clients need certain services, they search and browse through the various Project Catalogs. They can also send messages to the owner, and if they are contented that the catalog is what they are looking for, they can make a purchase<ref>https://support.upwork.com/hc/en-us/articles/360058234233-Get-Started-with-Project-Catalog-</ref>. Upwork will then deduct the 5-20% fee from the freelancer's earnings. | ||
'''b. Talent Scout''' | |||
Upwork has specialized recruiters who identify the right talent for the client. By using Talent Scout, the client removes hiring guesswork and reduces the time it takes to hire a freelancer. Talent Scout is similar to staffing agencies except that it lowers markup costs by up to 75%. Examples of Upwork's clients that use Talent Scout are Microsoft, PGA, Automattic, and WordPress<ref>https://www.upwork.com/staffing/</ref>. | Upwork has specialized recruiters who identify the right talent for the client. By using Talent Scout, the client removes hiring guesswork and reduces the time it takes to hire a freelancer. Talent Scout is similar to staffing agencies except that it lowers markup costs by up to 75%. Examples of Upwork's clients that use Talent Scout are Microsoft, PGA, Automattic, and WordPress<ref>https://www.upwork.com/staffing/</ref>. | ||
'''c. Client Marketplace Plan''' | |||
The Client Marketplace Plan came into effect in April 2022. It replaced the old marketplace plan where clients were supposed to make a monthly subscription to use the platform. Client MarketPlace Plan combined the Upwork Basic and Upwork Plus subscriptions into a single plan with a fixed percentage fee described above. As such, all clients now have access to most features that were only available to Upwork Plus clients<ref>https://support.upwork.com/hc/en-us/articles/4660220468499-Client-Marketplace-Plan</ref>. | The Client Marketplace Plan came into effect in April 2022. It replaced the old marketplace plan where clients were supposed to make a monthly subscription to use the platform. Client MarketPlace Plan combined the Upwork Basic and Upwork Plus subscriptions into a single plan with a fixed percentage fee described above. As such, all clients now have access to most features that were only available to Upwork Plus clients<ref>https://support.upwork.com/hc/en-us/articles/4660220468499-Client-Marketplace-Plan</ref>. | ||
'''d. Upwork Enterprise''' | |||
As the name suggests, Upwork Enterprise is designed for Enterprise clients. It enables these clients to access the top 1% of Upwork freelancers. The service also has features such as talent onboarding and payroll tools<ref>https://www.upwork.com/enterprise/</ref>. | As the name suggests, Upwork Enterprise is designed for Enterprise clients. It enables these clients to access the top 1% of Upwork freelancers. The service also has features such as talent onboarding and payroll tools<ref>https://www.upwork.com/enterprise/</ref>. | ||