Elance
 |
|
| Type | Private |
|---|---|
| Headquarters | Mountain View, California Oslo, Norway |
| Industry | Internet Online employment platform Freelance marketplace |
| Website | elance.com |
| Registration | Required |
| Available in | English |
| Current status | Active |
| Alexa rank | 652 (February 2012[update])[1] |
|---|
Elance is a global online employment platform. Clients can hire independent freelance professionals and use online collaboration tools to manage remote teams and projects.[2][3] Independent contractors create online profiles and portfolios, submit proposals for jobs, and collaborate and receive payment through the Elance website.
Contents |
[edit] Background
Inspired by a 1998 Harvard Business Review article titled "The Dawn of the E-Lance Economy",[4] the founders of Elance saw a need for technology capable of supporting virtual work. "After watching how markets dynamically set prices for stocks, bonds and commodities, bond trader Beerud Sheth and portfolio manager Srini Anumolu [Elance founders] figured they could transfer the same efficiency to the job market"[5] and the first version of the site was launched in 1999. Two years later Elance also introduced a vendor management system for contractors and third-party services used by large enterprises.[6] In 2006 Elance sold its enterprise division to Click Commerce[7] and began the development of its current web-based platform for online employment. In describing the transition to the current online employment platform, current CEO Fabio Rosati said: "It is clear that a structural change in traditional employment is underway. Work is no longer confined to the 9-5 and the office: people are working online with multiple clients as a career choice and companies are hiring online teams as a core business strategy."[8]
As of February 2012[update], Elance has approximately 1.4 million registered contractors, who have collectively earned more than $493 million to date. [9]
[edit] Elance
[edit] Clients
Businesses can use the Elance website to post jobs, search for contractors, and solicit proposals. They can evaluate the contractors applying for the job by reviewing qualifications, work history, ratings, portfolios, and skill test scores. Once a contractor is selected, all communication, file exchanges, and payments are conducted directly between the two parties via Elance's online Workroom.[10] For hourly-rate jobs, timesheets are automatically generated, and Elance's optional Work View tool provides an official record of work completed. For project-based jobs, milestones are defined to indicate progress towards completion, and payments held in escrow by Elance ensure payment only upon approval of the milestone.[11] When a contractor quotes an hourly rate or a fixed price to a client, Elance automatically includes a service fee of between 6.75% and 8.75%,[12] and after Elance bills the client and receives payment for the work performed, the fee is deducted and the rest is transferred to the contractor's account.[13]
[edit] Contractors
Freelance professionals can search the Elance website for potential jobs, research clients, submit proposals and then work through the Elance Workroom, where messages are exchanged and working files are uploaded. Each contractor has a unique profile displaying past jobs and feedback, a portfolio, and specific skill and educational-background information that can be verified by a potential client.[14] Registered users can submit up to 15 proposals each month for free while paid membership plans allow submission of additional proposals. Payment for services performed is guaranteed, if work is done using the Elance system, for both hourly and fixed-price work.[15][16]
A 2011 survey of contractors indicated that Elance was the "sole source of income" for 36% of respondents, and that 69% had at least a bachelor's degree.[17]
[edit] Skills
Information technology jobs such as web and mobile programming and development account for the majority of earnings on Elance (59%), followed by creative jobs (24%), marketing (7%), and operations (7%).[18] Also popular are jobs for writers and graphic designers.[19] Elance maintains a current list of their overall top 100 in-demand skills, and in 2011, the most in-demand skills were PHP programming, WordPress programming, article writing, graphic design, and HTML programming.[20] Specific data, including global job growth numbers and earnings on the most in-demand skills, is made available on Elance's website.[21]
[edit] Awards and recognition
Elance has been cited as an example of the emerging paradigm of informal workplace communication, employing social media tools and cloud-based applications to drive productivity.[22] Elance also caters to the increasingly liquid labor market by facilitating direct contact between contractors with specific skillsets and clients with specific needs. This reduces search friction and benefits the economy as a whole. [23]
As enterprises increasingly look to hire project-based personnel in lieu of traditional fulltime staff, freelance marketplaces like Elance are gaining popularity. [24] Business owners support the trend because it lowers their payroll expenditures, and workers support it because working for multiple clients results in increased job security.[25] Project-based hiring also allows small businesses access to highly skilled workers at a significantly lower cost as compared to hiring full-time staff.[26]
In 2009, Elance was selected as one of CNET's Webware 100, an award recognizing products and services that embody Web 2.0 ideals of collaboration and cloud computing.[27]
[edit] See also
[edit] References
- ^ "elance.com Site Info". Alexa Internet. http://www.alexa.com/siteinfo/elance.com. Retrieved 2012-02-27.
- ^ "How it Works". Elance. http://www.elance.com/p/how-it-works.html.
- ^ Needleman, Sarah E. (June 21, 2010). "Managing at a Distance: New websites help managers at small companies keep closer track of their freelancers' work". The Wall Street Journal Online. http://online.wsj.com/article/SB10001424052748703862704575100221456493514.html?.
- ^ Thomas W. Malone; Robert J. Laubacher. "The Dawn of the E-Lance Economy". Harvard Business Review. http://www.ecopywriters.com/downloads/dawn-elance-econ.pdf.
- ^ Daniel Eisenberg (12 August 1999). "We're For Hire, Just Click". TIME. http://www.time.com/time/magazine/article/0,9171,29393,00.html.
- ^ "5 Things to Know Before Becoming an Elance Provider". businesspundit.com. http://www.businesspundit.com/5-things-to-know-before-becoming-an-elance-provider/.
- ^ "Elance, Inc. Sells Services & Contractor Management Business to Click Commerce". https://www.elance.com/p/corporate/news/press/pr_060210.html.
- ^ "Outsourcing: Fabio Rosati, CEO of Elance". http://www.sramanamitra.com/2011/12/13/outsourcing-fabio-rosati-ceo-of-elance-part-2/.
- ^ "2011: Online Employment Review". https://www.elance.com/q/online-employment-review-2011.
- ^ Rafe Needleman. "Elance updates tools for hiring, managing contract labor". CNet. http://news.cnet.com/8301-17939_109-10004160-2.html.
- ^ "How to Manage Your Clients". https://www.elance.com/q/find-work/how-to-manage-your-clients.
- ^ "How Does Elance Work and How Much Does It Cost?". http://help.elance.com/entries/20216941-how-does-elance-work-and-how-much-does-it-cost#elancecost.
- ^ "What It Costs". Elance. http://www.elance.com/q/find-work/what-it-costs-for-contractors-freelancers.
- ^ "Your Online Profile & Portfolio". https://www.elance.com/q/find-work/online-profile-portfolio.
- ^ "Ask an Expert: Freelancing is easier than ever because of technology, attitudes". USAToday.com. http://www.usatoday.com/money/smallbusiness/columnist/strauss/2011-05-01-ask-an-expert-freelance-tips_n.htm.
- ^ "Guaranteed Payment". http://www.elance.com/q/find-work/guaranteed-payments.
- ^ "Freelance Talent Report". https://www.elance.com/q/freelance-talent-report-2011.
- ^ "Elance Online Employment Report". https://www.elance.com/q/online-employment-report.
- ^ "Elance Index: Online Contract Work Shows Growth". ReadWriteWeb.com.
- ^ "Overall Skill Trends". https://www.elance.com/trends/skills-in-demand.
- ^ "Overall Skill Trends". Elance. https://www.elance.com/trends.
- ^ Quentin Hardy (07 January 2012). "A Prophet for a New Workplace". The New York Times. http://bits.blogs.nytimes.com/2012/01/07/handicapping-software-with-a-workplace-prophet. Retrieved 11 January 2012.
- ^ Damien Hoffman (11 October 2010). "Should ODesk, Elance, and Solvate Have Won the Nobel Prize in Economics?". The Huffington Post. http://www.huffingtonpost.com/damien-hoffman/should-odesk-elance-and-s_b_758056.html. Retrieved 30 January 2012.
- ^ Carolyn Hughes (13 December 2011). "4 tips for small business hiring". The Washington Post. http://www.washingtonpost.com/business/4-tips-for-small-business-hiring/2011/12/08/gIQAMIgcsO_story_1.html. Retrieved 11 January 2012.
- ^ Paul Davidson (13 October 2010). "Freelance workers reshape companies and jobs". USA Today. http://www.usatoday.com/money/economy/employment/2010-10-13-1Acontractworkers13_CV_N.htm. Retrieved 11 January 2012.
- ^ "Small Business Vendor Award Nominees". http://influencers.smallbiztrends.com/small-business-vendors/elance/.
- ^ "Webware 100 winner: Elance". http://news.cnet.com/8301-13546_109-10237714-29.html?tag=mncol.
