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Online Freelancing Platforms Are a Growing Sourcing Strategy: Oxford Report
Fortune 500 organizations are turning to freelancing platforms like levoexpert.com and upwork
Fortune 500 organizations are embracing a 21st-century workforce, turning to online freelancing platforms as a flexible and timely way to get high-quality work done in a cost-effective manner.
A new report from the Oxford Internet Institute (OII) at the University of Oxford, released as part of Upwork’s inaugural Work Without Limits Summit, delves into how and why firms increasingly turn to online freelancing platforms to find and engage freelance talent.
“The most effective enterprises are extending their workforce capabilities by leveraging sites like Upwork to gain access to a diverse pool of outside talent.”
— Upwork CEO Stephane Kasriel
Platform Sourcing: How Fortune 500 Firms Are Adopting Online Freelancing Platforms explores use cases from nine Fortune 500 firms and multinational enterprises. Lead author Greetje Corporaal, a postdoctoral researcher at the OII, says adoption of these platforms is likely to grow as companies realize their strategy for sourcing talent needs to evolve.
“Online platforms enable managers to extend project teams with freelancers,” Corporaal said. “This creates speed and flexibility for companies aiming to stay innovative and competitive in today’s global business environment.”
The report shows that as companies embrace a more agile workforce, they typically take a number of key steps to help ensure successful platform adoption:
Create space for experimentation.
Start with a pilot or experimentation program inside your organization. This enables your company to test, learn, and ideate in a safe environment.
Add a program management layer.
Instead of relegating platform adoption to a departmental manager, appoint a dedicated program manager to serve as an internal advocate and take the day-to-day lead in the adoption process.
Allocate sufficient resources for experimentation.
A lack of funding can be a barrier to implementation. Starting off with a small test budget allows program managers to test the platform and explore its potential to generate greater business value.
Involve key stakeholders early on.
It’s important to involve key stakeholders— particularly those in finance, legal, and HR—to help secure successful adoption. Working closely with these stakeholders, and making them part of the implementation process, can help to mitigate risks and drive better outcomes.
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