Freelancer Management

Considering quitting your day job but concerned about the long-term effects on your future prospects? It’s time to think differently. Here are four ways freelancing could actually boost your career in the long run:

Get paid to find—or sharpen—your passion

People pay a boatload of money to refine their skills at college. Freelancers get paid to do it! In Outliers, Malcolm Gladwell shares the theory that it takes roughly ten thousand hours of practice to achieve mastery in a field. We can’t vouch for this particular number, but it is a tried-and-true, oft-repeated principle that practice makes perfect. As a freelancer, you get to bid for jobs that seem exciting to you and decline ones that don’t. As you go, you’ll hone in on where your lane is and have the freedom to develop it to the point of mastery. Then you can either keep running in that lane as a freelancer or take those finely tuned skills you’ve developed to your next full-time job. Highly skilled workers with a shorter learning curve have a leg up on the competition.

It’s like a paid audition

Freelancing gets your foot in the door at multiple companies without any commitment. If you love a business’s culture or brand, you may want to make their next project a priority. If you don’t like the experience, you don’t even have to bid for the job the next time around. You get to develop your clientele with companies and people you enjoy and then have a built-in connection for future opportunities. If you do well enough on your audition, you’ll get job offers—either for more freelance work or for full-time gigs. From there, it’s up to you to decide whether you want to accept an opportunity with a company or keep working for yourself. The power is in your hands.

Build your network

Once you’ve achieved mastery in an area, the world really starts to open up. When you do great work, people talk about you. After all, being able to refer someone reliable and easy to work with makes them look good, too. Talented freelancers organically build a robust network that includes both decision-makers and people in related fields who will send work their way.

P.S. There are tax benefits

So maybe it’s not a direct boost to your long-term career options, but the tax benefits are a pretty enticing bonus. There are mountains of deductions available to independent contractors (home office, business miles, office supplies, and more). You just need to make sure you keep careful records in order to take advantage of them. Under Trump’s proposed tax code overhaul, some independent contractors could have even lower taxes in the near future. Keep in mind, though, that freelancers are on the hook for their own self-employment tax, health insurance, vacation days, and retirement plans.

The bottom line:

Many factors determine whether freelancing is the right fit for your life. Managing your own schedule, finances, and other complex aspects of your career aren’t easy and it’s not for everyone. For some, it may be exactly the thing that allows them to live the life they want to live while doing the work they love to do. For others, it might be the right thing, but only for a season. After a foray into freelance, they may want to take all their experience back into a company job. Whether freelancing is a stepping stone to your full-time dream position or the long-term career path you didn’t even know you wanted, it might just be time to go for it.  

About PayReel

Producing multimedia content and executing live events is chaotic—and working them is even more so! At PayReel, we minimize the time and effort it takes to get you ready for your project, make sure you get paid quick and easy and have customer service agents on call around the clock to answer your questions. The next time you work an event or a production, tell your supervisor you love working with the PayReel team. Contact us anytime at 303-526-4900 or by emailing us here.

Relax. We got you!

When staffing special events or hiring freelance video crews for one-off projects, temporary workers are an incomparable asset. As a special breed, they also require special attention to everything from worker classification to the Affordable Care Act. Protecting these workers, who often spend extended time outdoors, requires a little extra forethought and attention, too. When it comes to keeping them safe, happy, and productive, the best insurance for temporary employees is accident and illness prevention.

July and August are some of the hottest months of the year in much of the U.S. By taking the following precautions against heat-related issues, businesses can lower safety risks and prevent fines and lawsuits, too:

1. Provide water, rest, and shade: It’s easy to get into a project and forget about the time. Sometimes proactive measures like mandatory breaks with plenty of hydration will remind people to take care of themselves in the heat.
2. Recognize the signs: Managers should be on high alert for symptoms of heat exhaustion. According to the Occupational Safety and Hazard Administration (OSHA), “Persons suffering from heat exhaustion might have cool, moist skin; sweat heavily; or complaint of headache, nausea or lightheadedness.”
3. Know and respect workers’ rights: It’s not just about staying compliant with the letter of the law, but about understanding and staying true to the spirit behind it. Even if you can push temporary employees a little further to get the job done faster, it’s worth going above and beyond to provide a safe environment. OSHA offers free on-site consultation services to help diligent employers eliminate any problems upfront. Contact them at 1-800-321-OSHA for more information.
4. Download the app: At different temperatures and conditions, different measures are appropriate. The U.S. Department of Labor makes it as easy as possible to monitor the heat index as well as it’s associated with its heat safety app. You can also schedule reminders for water breaks and more with a few taps.

Staying compliant with OSHA’s guidelines on Occupational Heat Exposure prevents workers from getting a heat-related illness. It also prevents them from missing work and you from getting fined. Keep everyone safe so neither you nor your employees end up paying the price.

Prevention is great, but actual insurance for temporary employees is still a must. You don’t need to spend hours translating all the legalese. We’ve already done it and know just what businesses need to do to stay compliant with insurance regulations. PayReel eliminates guesswork and frees you up to get you back to doing the creative work you love.  Click here to speak to us! 

About PayReel:

PayReel’s clients, who are some of the biggest companies in the world, are constantly immersed in the chaos of producing multimedia content or executing live events. PayReel makes sure they have the right contractors at the right time in the right place, and that everyone gets paid properly. And, most importantly, they handle every last detail—down to insurance for temporary employees—perfectly while making sure their clients think nothing of it, so they can get back to doing what they do best.

In any game-changing endeavor, the trailblazers have both the most to gain and the most at stake. Since its start in 2009, Uber, a spearhead in the gig economy, has earned a $62.5 billion valuation and forked out millions in legal settlements due to worker classification missteps. The gig economy and technological advances are redefining business as we know it.

Here are our answers to a few of the questions you need to start asking yourself about setting up independent contractors, hiring employees, and what it all means for the future of your business.

Am I setting up independent contractors or hiring employees?

Nothing worth doing should be too easy—and that certainly applies to set up independent contractors. Mistakes can be costly and generate bad press.

The rule of thumb is that independent contractors have a great deal of say in how, when, and how often they work; but are not entitled to their clients’ company benefits. Generally, employees have fewer freedoms but are entitled to company benefits.

Worker classification is never simple, but we’ve done a whole series on the subject to make it easier for you to be prepared. If you’re still unsure about whether you’re setting up independent contractors or employees, our worker classification quiz can help.

Are there other worker classification twists that I should know about?

For those who don’t fit neatly into one of the two descriptions above, some economists advocate for a “…third category of worker for the gig economy: the ‘independent worker.’ These hands would have the right to organize and would have social-security contributions made on their behalf. But they would not receive the minimum wage or unemployment insurance.” 

The game is changing and it pays to stay abreast of the laws surrounding worker classification, setting up independent contractors, and hiring employees. Don’t have the knowledge or the time to immerse yourself? You know who to call. (Hint: it isn’t The Ghostbusters.)

About PayReel

Producing multimedia content and executing live events is chaotic. At PayReel, we make sure our clients are able to hire who they want when they want and that everyone is paid properly. Leave the details up to the PayReel team so you can focus on pulling off a flawless production. Contact us anytime at 303-526-4900 or by emailing us here.

Relax. We got it.

When you pay contractors quickly, they’re more likely to answer your calls and ramp up your projects in a short amount of time. For busy department heads with big projects and short turnaround times, there’s nothing better than diving right in with tried and true creative partners. Saving time, money, and hassle by working with people who just get what you’re looking for is priceless.

Pay contractors quickly or risk losing them

Internal processes, red tape, and backlogged accounting departments make it hard to get checks in the mail. We definitely understand. Unfortunately, your corporate freelance payment policy might prevent you from working with the best people. Top contractors get booked quickly. Paying them later than your competition can get you blacklisted or moved to the bottom of their long to-do list.

Put yourself in their shoes. Freelancers are single-handedly juggling creative work, billing, marketing, and more. That means the person who sees your invoice in their red column is the same one you’re expecting to bring their all to your next project. What seems like a small invoice to a big company can have a major effect on a small business’s cash flow.

Don’t be a hoarder

According to a Wall Street Journal article, many large companies are “hoarding cash” and “squeezing small businesses” to increase their own bottom lines. Don’t be that guy. Not only does it add pressure to those you work with, but it’s also just not ethical. You may justify it by saying it’s not as bad as Bernie Madoff or Volkswagen‘s illegal and greedy ways, but shady practices of any degree have no place in your business.

Hire someone with systems in place

Paying contractors quickly is worth the investment. If it’s not feasible to transform your internal process, get a partner involved. You get the peace of mind of knowing that you’ll always be in good standing with contractors. With PayReel, you also get the bonus of pre-vetted workers who are always available at a moment’s notice.

Hiring contractors is a beautiful thing: It gives you a fresh perspective and talent without having to bring on full-time team members. Just make sure you do it right. Going from Net 90 to Net Now will save you time, keep you in good standing with contractors, and ensure you can feel good about the way you do business. Rather than trying to save Benjamin’s upfront, take Benjamin Franklin’s advice and “Wrong none by doing injuries, or omitting the benefits that are your duty.”

About PayReel

Producing multimedia content and executing live events is chaotic. At PayReel, we make sure our clients are able to hire who they want when they want and that everyone is paid properly. Leave the details up to the PayReel team so you can focus on pulling off a flawless production. Contact us anytime at 303-526-4900 or by emailing us here.

Relax. We got it.

Do you hear that? It’s the sound of companies with large contingent workforces digging through piles of paperwork, shipping out tax documentation, tracking down addresses, updating changed addresses, fielding endless calls from freelancers, and running around like chickens who have been recently separated from their heads. During Tax Day, and tax season, managing freelance payroll is more than just a pain in the ass—it’s a detriment to your productivity.

Here are three pill-free steps to ease those tax season headaches:

Step One: Get freelance payroll off your books.

PayReel handles every detail surrounding freelance payroll—from onboarding to reporting, and, of course, tax documentation. Since freelancers are technically our employees; art directors, producers, and media departments get all the creativity without any of the paperwork.

Step Two: Let PayReel handle the details.

Transparency is key. If you never want to see another detail about your contingent workforce in your life, you don’t have to. On the flip side, you can always dig into the details as deeply as you want.

We securely store all documents online in an easy-to-view and easy-to-find format. Find out what freelancers are costing you and whether the ROI is still in line with your needs. Track spending by employee, project, time period, and more. Our reporting options are true to your unique business realities and available anytime.

Step Three: Get yourself a cup of joe and relax.

We’ve got you covered. With PayReel taking on the entire burden of payrolling your independent contractors, you might even forget Tax Day is coming next year!

About PayReel:

PayReel’s clients, who are some of the biggest companies in the world, are constantly immersed in the chaos of producing multimedia content or executing live events. PayReel makes sure they have the right contractors at the right time in the right place, and that everyone gets paid properly. And, most importantly, they handle every last detail perfectly while making sure their clients think nothing of it, so they can get back to doing what they do best.