Across 150+ advertising agencies, Worksome usage data reveals the number of freelance contracts generated is 40% higher than the same time period in 2023.
The advertising world is rapidly evolving, and Worksome, a cutting-edge Freelance Management System, has the numbers to prove it. New data reveals a significant surge in freelance hiring among advertising agencies, with a 40% increase in freelance contracts in Q1 2024 compared to the same period in 2023.
From January 1, 2024, to March 31, 2024, the total contractor engagements Worksome’s platform facilitated across 150+ advertising agency clients were a notable 40% jump from Q1 2023. The total contracts signed in Q1 2024, marked a 36% rise year-over-year.
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A Changing Workforce Landscape
“The advertising industry is seeing a strategic shift as agencies adapt to the current economic climate,” says Worksome co-founder and CEO Morten Petersen. “While the macro-economic climate plays a role, the real story is how companies are leveraging non-employee talent to stay agile and competitive. We see that as employee headcounts stabilize, this increase in freelance hiring signals and underscores the shift towards flexible talent and the need for quick access to specialized skills.”
Key Insights from Worksome’s Data:
- Strategic Workforce Shifts: Agencies are increasingly relying on freelancers to navigate economic fluctuations and maintain flexibility.
- Demand for Talent Visibility: Agencies are increasingly demanding visibility into high-quality independent contractors (ICs) and the ability to place them on assignment.
- Rapid Talent Acquisition: The ability to swiftly hire specialized freelancers is critical for agencies to stay responsive to client needs.
- Global Talent Reach: Worksome’s platform empowers agencies to tap into a global talent pool, ensuring access to top-tier professionals regardless of location.
Implications for the Advertising Industry
This trend is not just a response to economic conditions but also a strategic move to integrate diverse skill sets and innovative thinking into the workforce. By leveraging freelancers, agencies can scale quickly, optimize costs, and drive creativity.
Worksome’s Commitment to Innovation
Worksome continues to enhance its platform to meet the evolving needs of freelancers and enterprises alike. By offering solutions to source their trusted talent, engage with them compliantly, and streamline payments, Worksome supports the increasing shift towards flexible, project-based work models in the advertising industry and beyond.
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