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Why the Contingent Workforce is the Future of Business

Posted on July 7th, 2016 Read time: 2 minutes

Many workers are changing jobs multiple times over the span of their career rather than staying loyal to one company for life. People want a greater work-life balance so they can spend more time doing what they love with their family and friends. On average, workers are staying at their jobs less than five years before moving on to the next challenge. Millennials especially enjoy working in flexible and entrepreneurial careers, making them even more mobile than other groups. By accepting this work pattern as the new normal, your company will gain a competitive edge. 

  • Politicians’ Views of the Contingent Workforce

Contingent workers’ rights, regulating the gig economy, unionizing the flexible workforce, and allegations of unpaid taxes on income not claimed by freelance workers are now part of politicians’ platforms. Public recognition of Uber and Lyft being major businesses employing independent contractors show acknowledgment of how relevant contingent workers are to the economy. They often perform services for companies with specific missions, such as flexible transportation, or highly specialized niche markets, such as STEM-related professions, that prefer a non-traditional work model. Many people involved in the contingent workforce are even promoting ways of transporting paid sick leave and affordable healthcare to non-traditional workers. 

  • Prestige and the On-Demand Workforce

Highly-skilled professionals often choose to be part of the contingent workforce as a means of better establishing themselves as experts in their field. This higher level of recognition leads to additional work from multiple clients. These workers report greater job satisfaction and being paid what they are worth when compared to traditional employees.   

  • Management of the Flexible Workforce

Companies must determine which stakeholders, including HR, recruiting, and supplier partners, should be responsible for contingent workers’ training, mentoring, performance and career planning. Because these freelance workers are brand ambassadors, and because company brand and reputation are large attractors for today’s workers, companies must determine how they will properly convey their image through social media and other public platforms. Stakeholders must determine how to meaningfully engage with their contingent workforce to ensure worker satisfaction and productivity while blending them with the rest of the company’s workforce.

Contingent workers are changing how companies operate today. Keep your company competitive by incorporating on-demand workers in your business structure. For more information on contingent staffing, reach out to the experts at Innovative Employee Solutions today!

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