24 November 2017

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Introducing New Solutions for Old Challenges: PeoplePerHour.com

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With a highly agile and new concept to Indian market, PeoplePerHour.com entered into India. In an exclusive interaction between Xenios Thrasyvoulou, Founder and CEO, PeoplePerHour.com and Faiz Askari, Editor-Technology Small Enterprise India.com, these unique concept and Indian market’s unique trends were discussed.
The excerpts:

 

1: PeoplePerHour.com has entered into the Indian market. What unique messaging would it like to give to the market?

The major trend that we are witnessing currently is that outsourcing is shifting from a cost saving solution to one of hiring the best talent at the best possible cost. The internet is opening up a huge opportunity for the SMEs and considering the competitive landscape in the current scenario it requires a better execution strategy across all business functions. It is all about raising the bar for business. To capitalize on the current trend, businesses need to hire experts in their relevant fields affordably, and that’s what PeoplePerHour.com is all about. This is especially true in case of high growth and emerging economies that are developing an SME sector. Considering India’s economic growth, there lies a huge opportunity for the SME sector to focus on its core business activity and outsource all no core business functions to experts and enjoy the benefits of best quality service at the best possible cost

2: The company has registered an impactful success story in Europe and western countries, what will be the market strategy for India?

The biggest challenge for PeoplePerHour.com in India is to target and achieve a mindset shift in local businesses. It is to make the Indian SME sector realize that they can work in smarter and more cost-effective manner than they are traditionally accustomed to doing their business while maintaining quality. Outsourcing is normally associated with a cost saving solution, while the key for high growth businesses is to find best talent and hire them affordably as businesses are competing in the global arena. PeoplePerHour.com enables businesses to achieve this goal.
Now that we are the leader in Europe and we are taking the model more aggressively to other major economies who we feel could benefit from it and where we are seeing early signs of strong traction. High growth countries like India are one of them. 

3: Talent acquisition often acts as a challenge for entrepreneurs. How PeoplePerHour.com looks at this scenario?

PeoplePerHour.com is about finding the best and quality talented people who work freelance, as opposed to looking for the cheapest solution. Hence we are seeing a reversal of trends in Indian companies using PeoplePerHour.com to outsource work to in the west. It is a cost-effective way of bringing in expertise for those booming companies in India that want to learn from best practice in the West.
Our whole ecosystem is about building trust and transparency around that relationship while leaving the client in the driving seat to make the choice. The companies at the top of the food chain have been spending millions in gaining ‘best practice’ by paying management consultants and ‘MBAs’ … small businesses do not have the budget for that, but need it all the same and that’s what PeoplePerHour.com enables businesses to outsource their non core business functions and get their job done.

4: SMEs have been an integral part of your business. How do you look at Indian SMEs for your business expansion?

In the last year our usage in India has grown 7 times. We are serving a huge market where essentially every SME is a potential customer. We believe that with time all SMEs will work in smarter more flexible ways by making use of freelance talent that they can hire in a trusted environment like PeoplePerhour.com.

Our site is all about making that basic proposition more accessible, more trusted and more reliable. There lies a huge opportunity for the Indian SMEs to explore the potential of online outsourcing marketplaces and get their job done in a cost effective and affordable manner by hiring the best talent for the job.


5: Considering the current outlook of Indian employers, the outsourced workforce needs to have a mind-share shift. How will you overcome this challenge?

As already said that the biggest challenge is to bring about a change in the mindset of both businesses and service providers, it is basically educating them about the benefit of online outsourcing with regard to focus on quality talent; affordable pricing; benefits of different time zones and its relevance to saving time to get the job done, etc.

6: It needs to have a robust and enriched pool of talent on outsourced model. What is your strategy for this front?

PeoplePerHour.com is a marketplace connecting small businesses and freelancers all over the world in a trusted environment where they buy and sell services to each other.

Service providers (‘Freelancers’) on PeoplePerhour.com come in many varieties and skills, from self-employed professionals, incorporated businesses or simply people who work around their Job to supplement their income and explore other talents they are passionate about. Creating a profile is free. We charge a small service fee on success based on the usage plan that the service providers would like to choose. There are no charges for service providers who opt for the “standard” usage plan. We charge £ 7.95 per month from service providers who opt for the “gold member” usage plan and £ 14.95 per month who opt for the “platinum member” usage plan. Last but not the least, the ability to leave ‘feedback’ on each service provider by clients’ helps other businesses evaluate each freelance professional.


We are looking at scaling our business by developing affiliated services on other platforms and vice versa but fundamentally we are and remain a destination site – users come straight to our site to access our community and use our service

7: How many registered users from your portal are ready for the Indian market?


In a virtual business environment like PeoplePerHour.com all registered freelancers (service providers) across the globe are available for the Indian market. There are more than 100,000 registered freelancers available at PeoplePerHour.com and India at present has more  than 14,000 registered freelancers. We see the market growing at a rate of 20 % in India.

8: Similarly, how do you maintain or monitor the quality of output for your clients?


Businesses (‘clients’) use our site to remain flexible and efficient, scaling their business up or down as and when they need to without the overhead and cost of traditional employment. Our site is “free” to businesses (‘Clients’) and we charge a small service fee to those who win work only on success.
PeoplePerHour.com successfully amalgamates the concepts of online professional networking and an outsourcing marketplace. Key features include ‘posting of jobs’ followed by ‘review of bids by freelancers’, ‘allotment of work’, ‘make payments for the job’ and the ability to leave ‘feedback’ on each service provider, which helps other businesses evaluate each freelance professional.

9: Can you share some figures about the market size of this segment?


Since the launch of PeoplePerHour.com in 2007, more than 36,000 small and medium sized businesses across the world have used PeoplePerHour.com to outsource over $ 33,100,000 worth of services, from small one-off projects worth less than $150 to on-going contract work. Over 36,000 business clients now use PeoplePerHour.com to outsource work regularly giving our community of more than 100,000 talented freelancers immense reach for little or no cost.  India has more than 14,000 registered freelancers till date.  The quantum of work that is being currently transacted at PeoplePerHour.com is over $5m per month and India is currently at 20% of the global pie. The average hourly rate for freelancers globally is $ 26 approximately and for India the average hourly rate is currently at $ 16.

10: What are your key focus areas for next one year?


Considering out leadership position in Europe, we are focusing on high growth and emerging economies that are developing the SME Sector. We have recently raised over $ 6 million in venture capital funding to invest for our international expansion.

 

 

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