If you’ve been keeping up with financial news recently, you’ve probably read about the market downturn. You may even find yourself examining your own operations and seeing where you can streamline. Bracing for change is smart. And doable. And the sooner you start, the better. Simply put, full-time employees add to your business's fixed overhead. And while large corporations have a history of hoarding talent, agile businesses can find themselves needing to tap into different skill sets for different projects at varying times. With a smaller core team and a robust flexible, global roster, project-based agencies can mix and match to assemble the perfect project team to always win new bids without carrying fixed costs. The name of the game here is pivoting and maneuverability, and Liquid can show you how.
The Benefits of a Project-Based Company
Being a project-based service company like a creative agency or a consulting firm gives you the perfect reason to go agile and match your workforce to the fluctuating needs of your client projects.
We’ve long been advocates of evolving the way people think about work. We believe that agile companies, which approach their work and workforce differently from traditional businesses, are uniquely prepared to weather market fluctuations. Here are some of the ways agencies can win work while meeting their bottom line.
Maintain a Virtual Talent Bench – The bench is a company’s collection of independent contractors, vendors, freelancers, and partners. By transitioning from full-time employees to more of a project-based workforce, agencies can quickly scale their pool of workers to fit their immediate needs. Not only does a flexible workforce give modern agencies the opportunity to punch above their weight and take on big clients, but it also allows a business to onboard a contractor with the perfect skill set for a given project, meaning deliverables can be completed quickly with top-tier results.
Stay on Top of Spend – When a project goes over budget, there’s only one place to make that money up, and that’s directly from the business’s profits. To keep spending on track, it’s crucial to know how much you’ve spent across all your workers and vendors. Liquid provides a work order system where you can budget for each piece of the project and have visibility for real-time spend management. In addition, Liquid gives businesses the tools to automatically match invoices against work orders so that you can prevent overpayment or errors and guarantee a project’s profitability.
Hire Workers From Across the Country or Across the Globe – Project-based work allows agencies to source talent from across the globe. And since the name of the game is meeting milestones (and not simply adhering to a 9-5 schedule), businesses can source workers from the global talent pool for asynchronous work around the clock. Liquid helps you hire those contractors while staying compliant and pay them in their preferred currency across 175+ countries.
Liquid is the All-In-One Flexible Workforce Management Solution
Keeping agile is crucial to being able to pivot in an unpredictable environment. Liquid empowers you to stay flexible by giving you everything you need to manage your freelancers and vendors in one unified place. With Liquid, you won't waste money on redundant subscriptions or lose time hunting down a work order in your Dropbox.
If you're an agency or an agile business that's tapped into the flexible workforce, then Liquid has the tools you need to contract, pay, and manage your workers while staying in control. Contact us today, and we'll find the right plan for you.