How the Best Freelance Marketplaces Differ From Their Competitors

It is estimated that there are currently over 70 million freelancers in the United States. Of that group, roughly 36 percent freelance on a full-time basis.

Of course, finding work as a freelancer is much different than working full-time for a single employer. You may take on work for several clients at the same time, devoting your week to a variety of smaller projects. Or, you might work for a single client for a more labor-intensive project that lasts for a few months.

Either way, finding new clients to work with is a key, ongoing task for freelancers. A wide variety of online freelance marketplaces have arisen to help connect freelancers and clients, but not all are created equal. The best freelance marketplaces aim to create true win-win scenarios for freelancers to help them grow their career and client base.

The following are a few examples of how different marketplaces strive to become more than just another place for listing open projects. These marketplaces don’t just aim for their own success. They want to see freelancers and their clients succeed as well.

Focusing On Specific Groups

Some freelance marketplaces boast that they have millions of available freelancers who can assist clients with a wide variety of projects. This can certainly benefit the clients who hire freelancers, but it isn’t always the most beneficial for the independent contractors themselves.

For one thing, this can create a situation where freelancers are forced to sift through dozens of job listings that are completely irrelevant to their own skill set before they find one that offers a possible match. And then, because there are so many other freelancers on the platform, the competition to land a single job can be intense. 

Rather than offering a platform where the best candidates are able to match with relevant clients, this competition creates a race to the bottom. Independent contractors who submit proposals with the lowest rates often get hired, but these individuals tend to be more likely to provide subpar work to the client. At the same time, qualified freelancers struggle to find work because they can’t afford to lower their rates.

These issues were theorized to be part of the reason why Upwork purged over 1.8 million accounts in 2020 — too many workers created a situation where highly talented freelancers were getting drowned out by less skilled individuals.

The best freelance marketplaces avoid this through a variety of means. They may focus exclusively on a specific niche, such as tech talent. myBasePay has focused on creating greater market opportunity in the United States for freelancers in Latin American countries like Brazil, Chile and Argentina. 

Providing Meetups and Trainings to Promote Career Growth

Full-time employees enjoy many benefits beyond paid time off and health insurance. Many employers offer continuous education and ongoing training opportunities so workers can improve their skill set and earning potential. Casual social gatherings are also common to build camaraderie among team members.

To maintain their status as an independent contractor, freelancers won’t get access to such benefits from their clients. However, many freelance marketplaces are helping to ensure that freelancers can also enjoy career growth opportunities by facilitating meetups, trainings and other resources. 

This could include online seminars with tips on how to grow one’s freelance business or craft a successful pitch. It could entail pairing new freelancers with more experienced mentors.

Or it could simply involve facilitating local meetups for freelancers who live in the same geographic area. These networking opportunities could lead to new job requisitions, or even enable freelancers to “team up” on a project to meet the specific needs of a client.

By helping freelancers succeed in their careers and maintain that sense of connection and growth they would have in a typical office job, talent marketplaces can become a more appealing option.

Access to Quality Clients

Another key concern for freelancers is access to quality clients who will pay them what they’re worth — and provide payment in a timely and consistent manner. Freelancers want quality work that will help them grow their portfolio — and of course, pay well enough to be worth their while.

Unfortunately, some digital clients assume that because freelancers aren’t employees, they can pay them less than their actual market value. If a prospective client’s budget is too low, a freelancer will either be forced to essentially take a pay cut for low-value work, or keep looking for better opportunities.

Then, of course, there’s the concern over actually getting paid. According to the nonprofit group Freelancer’s Union, 71 percent of freelancers will experience trouble collecting payment from a client. Sometimes, this requires constant followup emails requesting payment. In some cases, the payment never comes at all.

Needless to say, such issues can hurt the client-freelancer relationship and make it difficult to grow a thriving career as an independent contractor. Freelancer-first marketplaces don’t just vet independent contractors.

They also take steps to ensure that clients are offering projects at a fair market rate. They also ensure that payments are processed in a timely manner so that freelancers don’t have to waste time chasing down invoices.

When the freelance marketplace handles the financial aspect of the transaction, freelancers can focus on delivering top-quality work and fostering lasting relationships with their clients.

Grow Your Freelance Career With myBase Pay

If you’re looking to take the next step in your freelance career, myBasePay can help. By joining our talent acquisition marketplace, you can gain access to exclusive job requisitions from leading organizations from across the globe. You will be able to grow your portfolio as you deliver on new partner job requisitions.

Even more importantly, myBasePay operates as an employer of record, helping to manage the relationship between companies and their freelancers. You can have confidence that you will be paid on-time and at the agreed-upon rate. No hunting down clients to try to get paid!

By creating win-win opportunities for recruiters, corporate talent acquisition professionals and independent contractors, myBasePay hopes to foster a business environment that allows everyone to achieve their full potential.

 

Author: Cesar Jimenez, myBasePay CEO
Cesar A. Jimenez is an entrepreneur, investor, and military veteran with over 25 years of staffing industry expertise successfully leading technology staffing organizations. His expertise in the IT industry allows him to use his experience as a thought leader for talent acquisition, staffing, IT, and recruitment technologies with a passion for contingent workforce solutions. Cesar has held various leadership roles for both a global staffing organization and technology solutions companies. This expertise has enabled him to develop alternative workforce models that provide the agility for organizations to be competitive in today’s marketplace. In his spare time, he enjoys spending time with hisfamily, working out, and coaching high school baseball players.