More Than 75% of US Businesses Prefer to Hire Freelancers in Uncertain Economy
As the specter of recession looms, companies are becoming more cautious about increasing headcount. But the work still needs to get done.
Pedestrians in the financial district of San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
As more companies announce hiring freezes and layoffs, three quarters are more likely to turn to freelancers and other contingent workers as a stopgap.
About 78% of business leaders said they are more likely to hire freelancers rather than full-time employees while economic conditions remain uncertain, according to a survey by freelance marketplace Fiverr International Ltd. With economic uncertainty growing, 85% of US companies plan to implement a hiring freeze during the current downturn, and 78% plan to lay workers off, Fiverr found.