Shirley, Economics teacher at a well known college in Bangalore explains: Recession is a good time for reigning marketing share. Ideally during a downturn most companies will slash their advertising spending. Few farsighted companies that spend can steal their market share.
However, where most companies would be mincing is in hiring big agencies. They will employ freelancer designers and marketers rather than using an agency. Freelancers are in expensive and can be chosen from among a hundred experts as opposed to an agency where you can only choose one who is in their employ. With cost cutting on the rise, most publishing companies are actively looking at freelancers than hiring full time employees.
While full timers have the luxury of confirmed pay cheque at the end of the month it leaves them little liberty to work across variety. This is where freelancers gain, especially during recession. A freelancer writer for a host of travel magazines say “Apart from writing for some magazines, I’m also lending my skills with an organization nearby that takes young children rock climbing and on nature outings”
Everyone – companies, newspapers and politicians are making us believe that the times ahead are bad. And sure that might be so. But for the self employed lot this credit crunch has never been a better time to be a freelancer. When companies begin to lay off staff, it is often the freelancer who benefits when they step in to complete the work that starts over flowing. Freelancers are best quipped to survive the recession.
Tripthi now offers her expertise even in writing content for the web. She has hired another friend for this as some clients look for a complete service package. So now she accepts the work, assign it to someone else and charge the client more than what she pays them.
Freelancers have to certainly think out of the box. Yet another Delhi based freelancer has adopted the same strategy. This year to stay afloat he is adding more services to his original skills. By providing photos with the stories he writes, he is able to increase his per article income.
Firstly, freelancers are psychologically prepared to be out of job. For a full timer, loosing a job amounts to loss of self esteem, which affects their ability to gather themselves and start from where they left off. Since freelancers do not make job their goal per se, they are either better equipped to branch out or even comfortable doing nothing.
Freelancers are known to work on many contracts during their careers; this keeps them on a constant look out and abreast with the latest news. When a certain publication decided they no longer needed her services, she had to merely look out for those publications which still required her services. As freelancers have established social contacts seeking out to people who require their services becomes easy. This is in direct contrast to what a full timer does neglect networking.
Freelancers are always multitasking. During recession this habit becomes a survival mechanism.
And not to undermine the most important reason that of ‘working atones convenience’ freelancers are self employed in the first place. They work at their time and with their rules.
Being a freelancer at this point gives them advantage over a “company” as they have fewer overheads which most clients are looking to crunch on.
Freelancers know how easily they can loose a client and therefore adopt uncompromising professionalism. Most companies and clients seek only this. And at this hour when agencies are way expensive freelancers chip in with their expertise and deliver at a cost way below that of the agency.