3 Ways to reward your freelancers

3 Ways to Reward Your Freelancers

Even though freelancers are not really employees, they expect fair compensation and enjoy rewards just as their employed counterparts do. Compensation is the total cash and non-cash payments employees and freelancers receive for their contributions. It contains freelancers’ agreed payments, rewards, different bonuses, and other perks such as free parking and commuting costs. Compensation should be in line with freelancers’ contributions and involvement and it should match their preference at the same time.

Here are 3 ways to reward your freelancers:

Incentives

Planning a proper employee incentive program is an option to encourage productivity among employees and freelancers. Incentives are monetary or non-monetary rewards that include cash awards, training opportunities, the ability to work remotely, etc. For example, some companies award their freelancers with different gift cards, virtual courses, or a session with a financial advisor. Some online platforms, like Freelancer.com, even reward their freelancers because of using their site with credits that can be used to purchase project upgrades and bids.

Make sure to base incentives on criteria that make sense; that way the freelancers do not have to wonder whether they are on track to earn them. Incentives are often performance-based, meaning they are based on how well a freelancer performs certain reasonable tasks in their assigned role. Gamifiying the incentives is also a viable option; it structures them in a way that does not create any confusion. Gamification is breaking down goals into smaller, more achievable chunks and providing rewards for freelancers who meet that criterion.

Recognition

Rewards do not necessarily need to be incentives. Sometimes simply recognizing a freelancer’s efforts and sending them an e-mail or a “thank you” card can play a huge role in motivating them. You can take things a step further and thank them publicly; write about them in a company-wide e-mail, mention their names in your blog or website, or announce their accomplishments in a meeting. You can and even include them in your employee of the week (or month) program. Some online freelancing services, like Upwork.com, choose top freelancers every month or every week and post their profiles on their first page. This also benefits these freelancers by introducing them to more clients.

Inclusion

As a result of working with online freelancing platforms like Win A Talent, Freelancers end up working for various companies throughout their careers. They sometimes even work remotely with overseas companies. They experience many diverse work environments and different teams and face different demands for only a short while, so they do not have the time to get involved with companies much. The situation is far more intense for exceptional freelancers; since their workload increases because of their skills, they are even less likely to get involved in team activities and projects.

Creating inclusive opportunities is a way to keep freelancers engaged and involved. it also helps you get familiar with them and know them as well as your in-house team. Invite freelancers to participate in your company’s casual hangouts and get them involved in your company culture. You can also invite top freelancers to visit your company or participate in team-building exercises; buy plane tickets for the very best ones and take time to meet them. Use this opportunity to enhance your FVP (Freelancer Value Proposition) and attract other high-quality contractors.

Reward your freelancers inspire top freelancers to work with you on later projects. They will also keep the employees and freelancers engaged and motivated and strengthen company culture, which in turn, enhances the Employer Value Proposition (EVP) and Freelancer Value Proposition (FVP). An enhanced EVP and FVP positively influence attracting and retaining top freelancers.

2 thoughts on “3 Ways to Reward Your Freelancers

Leave a Reply

Your email address will not be published. Required fields are marked *