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Freelance & Outsourcing Industry: Difference between revisions
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* Employment training tax: '''0.1% on first $7,000''' | * Employment training tax: '''0.1% on first $7,000''' | ||
* Overhead and G&A: average of '''25% and 18%''' | * Overhead and G&A: average of '''25% and 18%''' | ||
== Freelancing during Recession == | |||
According to Linkedin, while economy is taking a toll on full-time employees, it’s offering a silver lining to gig workers and contractors.<ref>https://www.linkedin.com/business/talent/blog/talent-acquisition/is-2023-the-year-of-the-contract-worker#:~:text=Listings%20for%20contract%20jobs%20jumped,roles%20grew%20by%20just%206%25.</ref><ref>https://business.linkedin.com/content/dam/me/business/en-us/talent-solutions/resources/pdfs/future-of-recruiting-2023.pdf</ref> | |||
* The share of U.S. paid job posts for contractor roles increased +26% YoY, while full time roles only grew by 6% YoY. | |||
* Many employers consider hiring contract workers vs. permanent workers as a less expensive option that reduces their tax obligations and benefits costs and increases flexibility. | |||
* “If you’re a recruiting leader in 2023," says Stephen Lochhead, senior VP of global talent acquisition at Expedia Group, “and you don’t have a decent mix of contingent talent, you’ll be more risk-exposed to whatever the future brings — good and bad. You need some elasticity so you can flex up or down as needed.” | |||
* 69% of recruiting pros say the macroeconomic environment is negatively impacting hiring. | |||
In January, ResumeBuilder.com surveyed 1,000 U.S. business leaders at companies with at least 50 employees to find out how many are currently “quiet hiring,” or will be soon.<ref>https://www.resumebuilder.com/1-in-5-companies-are-quiet-hiring-contractors-to-replace-laid-off-workers/</ref> | |||
Key findings: | |||
* 57% of companies have had layoffs in the past 3 months; 56% say they plan to lay off employees in the next 6 months. | |||
* '''37% of companies with recent layoffs are hiring contractors to replace laid off workers''' | |||
* 62% of businesses recently asked employees to take on new roles within the organization; 10% say employees weren’t given additional training | |||
* 66% asked employees to take on additional work; 5% of companies doubled employees’ workloads | |||
* '''53% asked full-time employees to move to a contract position''' | |||
* 34% have cut salaries in the past 3 months; nearly 1 in 10 reduced ALL employees’ salaries | |||
== References == | == References == | ||
<references /> | <references /> | ||