Large number of big and small companies has started outsourcing jobs to online freelancers in order to save expenses and add flexibility to their work culture. There are several fruitful reasons for which the trend of outsourcing will keep accelerating in the times to come. In fact, this trend has already started transforming the style of working.
Some of the popular names in online marketplace are Elance, oDesk, Freelancer.com and Guru. oDesk has created a successful business niche by doing work more than worth $1billion since the year 2005. According to Gary Swart, the CEO of oDesk, the site is in huge demand for any and every job that can be done with the help of a computer. He also estimated that by the year 2020, 1 in every 3 workers will be appointed online. When oDesk was launched in 2005, the jobs basically demanded basic computer skills including simple coding and data entry. In the present times, the scenario has changed tremendously and the jobs that are in hottest demand today are data analysis, social media marketing, research, we-designing, research, infographics, translations, virtual assistants, IT and many more.
Startup companies as well as Fortune 500 are equally hiring online freelancers to get their work done by experts sitting in different corners of the globe. Hiring online freelancers is profitable for the companies as it relieves them from various commitments such as health insurance, minimum wage and maximum working hours.
It has been observed that U.S. based companies have been hiring tremendously on Elance. The jobs on these online sites are open for global bidding. Though American freelancers are highly proficient and possess variety of advanced skills, they face tough competition from freelancers residing in India, Philippines, Pakistan, Bangladesh, Canada and the UK. According to industry leaders, though the U.S. is one of the top nations that earns humongous profit from online job markets, these platforms do not reassign jobs from the U.S to other nations but they do add additional online work opportunities.
In developing countries, job creation through the online job market serves as an effective means for development and growth for the underprivileged population. For many people across the globe, online job market is the only way to earn their livelihood. In the coming times, the organizations will consist of in-house workforce and employees that come to work through the internet. Another great advantage of online employment is that the employers can hire employees of their choice from different corners of the globe without having to open branches in those countries.
In future, there will be less full-time jobs as people will prefer doing part-time jobs regardless of their degree and education. Employees will focus more on their professional skills to stand out in the competitive market. The constant growth of online job will compel both businesses and employees to become more efficient and flexible in work.
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