In today’s fast-paced and ever-evolving economy, businesses must be agile and adaptable to stay competitive. Companies achieve this flexibility by relying on contingent workers, who are hired on a temporary or contract basis. Contingent workers bring specialized skills, expertise, and flexibility to the workforce, allowing businesses to respond quickly to changing market conditions and scale their workforce up or down as needed. In this blog post, we’ll explore why contingent workers have become essential to the modern workforce and how they can help businesses thrive in today’s dynamic business environment. The Rise Of The Contingent Workforce Business agility is the ability of a company to respond rapidly to changes in the market, technology, or customer needs. In today’s fast-paced and ever-changing business environment, agility has become a crucial factor for the survival and success of companies, large and small. Being agile enables companies to adapt… [Read More]
Contingent Workforce Trends in 2023
Organizations face challenges in 2023 that are unlike anything they have seen before: a competitive talent landscape, an exhausted workforce, and pressure to control costs. As a result, more and more companies are turning to contingent workers to fill their needs. Why? The answer is simple. Contingent workers allow businesses to hire temporary help without having to invest in a full-time employee. Here are five contingent workforce trends in 2023. Contingent Workforce Trends in 2023 “Quiet Hiring” When it comes to hiring, one size doesn’t necessarily fit all. That’s why many companies are shifting their approach. Rather than relying on traditional methods like job boards and career fairs, they’re turning to “quiet hiring.” This strategy involves finding candidates through referrals and social media and tapping into the hidden talent pool of passive candidates who aren’t actively searching for a job but would be a… [Read More]
How Contingent Workers Can Help Fill Talent Gaps This Holiday Season
The holiday season is one of the busiest times of the year for small businesses. Sales are booming, and customers are flooding your doors with requests. That’s why it’s essential to have a plan in place to ensure that your business can still run smoothly during this busy time. One way to increase efficiency while reducing overhead costs is by hiring contingent workers to fill talent gaps left by your regular employees. Fill Talent Gaps This Holiday Season Contingent workers are an essential part of the workforce. They can help with talent gaps and bridge the skills divide, and they often provide more flexibility than full-time employees at a lower cost. As the holiday season gets underway, U.S. small businesses will significantly benefit from contingent workers’ flexibility, cost efficiency, and ability to perform niche responsibilities quickly. What Is A Contingent Worker? Contingent workers do not… [Read More]
Common Mistakes Businesses Make When Hiring Freelancers
Many American professionals are saying “goodbye” to the nine-to-five and embracing freelance work with open arms. The flexibility, pay, and remote options are attractive for workers. At the same time, lower costs and accessible talent are valuable to businesses that may not need or want to hire a full-time employee. Hiring freelancers is an excellent way for companies to get the expertise they need without putting too much of a strain on their budget. However, hiring freelancers can be complicated and fraught with pitfalls for small businesses. Here are some tips to avoid common mistakes and hire freelancers effectively. Common Mistakes When Hiring Freelancers Not Understanding The Cost Of Hiring Freelancers When hiring a freelancer, you need to be clear about what compensation will be given. You should also clearly define what type of compensation it will be and how that type of compensation will… [Read More]
10 Benefits Of Hiring A Staffing Agency To Fill Your Temp Positions
As a business owner, filling positions with quality candidates is difficult. Hiring a temporary employee through a staffing agency like NexusCW helps you hire the right candidate without worrying about stressful tasks. Here are the top ten benefits of hiring a staffing agency to fill your temp positions. 10 Benefits Of Hiring A Staffing Agency Save Time On Recruiting And Interviewing As a small business owner, you know how tedious the recruiting process can be. You must find and screen candidates, schedule interviews, extend offers, and onboard. But when you use a staffing agency to fill your temporary jobs, all this work is taken off your plate. A good staffing agency will assist throughout the hiring process, from reviewing resumes and conducting phone screens to scheduling interviews and coordinating references. This can simplify your workload and help ensure that you hire only top performers. Put… [Read More]
Labor Cost Increases: Inflation Pressures Cause New Challenges for Employers
Labor cost pressures are a growing concern for employers, who must find ways to manage their labor costs while also trying to attract and retain employees in the face of rising wages. In this article, we’ll look at the cause of labor cost increases, their impact on employers, and explore strategies for managing these new challenges. What’s Causing Labor Cost Increases? Labor Force Participation In the United States, nearly 125 million people participate in the labor force, with 54% of those who are employed being women and 46% men. More than 85 million people have full-time jobs, while the remainder either work part-time or are unemployed. The labor force participation rate has been falling since the 1970s and is currently at a historic low of 61%. This means that fewer people are working or actively looking for work than ever before. The fall in labor… [Read More]
How to Bridge A Talent Gap With Summer Interns
As the days get warmer and the school year draws to a close, many students search for work to earn some extra money while their studies are on pause. Although summer jobs are beneficial on a transactional level, summer internships provide both financial and professional perks. Internships give students hands-on job experience in an industry related to their major. For example, a finance major may intern at an investment firm, an engineering major may work for a semiconductor manufacturer, and a marketing major may try their hand at a marketing agency. Summer internships typically last eight to twelve weeks long and pay on average $16.45 per hour in the United States. While this resume-building activity is undoubtedly great for students, businesses benefit as well. In one of the tightest labor markets in history, companies can bridge their talent gaps with summer interns. Here’s how. How… [Read More]
5 Most In-Demand Contingent Worker Job Types
Even as the “great resignation” appears to be slowing, companies report that they are still struggling to secure talent at their organizations, despite increased pay and better benefits packages. The recovering economy is stretching many businesses thin as they attempt to meet the pace of growth, with job roles staying open. 68% of teams are hiring within the next six months but don’t have the candidates they need. This talent shortage is partly due to workers nixing the traditional workplace model. Modern workers crave flexibility, and many are turning to remote freelance work to meet their needs. According to the freelancing platform Upwork, 59 million Americans performed freelance work in 2020 alone, creating a $1.2 trillion economy estimated to grow to 90 million freelancers by 2028. As top talent moves away from salaried roles, the demand for contingent workers also grows. Here are the top… [Read More]
6 Steps for Employing Remote Workers
Remote work is a workplace model that allows staff members to work outside a traditional office environment. Although the technology required for employing remote workers has been available for a long time, the pandemic took what was once a “desirable perk” and transformed it into an “urgent necessity” almost overnight. Today, even as COVID seemingly winds down, many businesses continue to offer remote work options to attract hard-to-find talent in a tight labor market. All that to say, remote work is now mainstream and growing in popularity amongst employees and employers alike. Employees like the flexibility and freedom remote work brings while employers enjoy boosted productivity. Though some companies felt hesitant about remote work at the start of the pandemic, data shows that the majority are willing to adopt a hybrid workplace model. In May 2021, a Mercer study found that 70% of companies said… [Read More]
Contingent Workforce Trends 2022
With the pandemic continuing into its third year and hiring woes plaguing businesses across the nation, the future of the US workforce is anyone’s guess. There is a lot of unpredictability about global health, supply chains, and the economy; however, companies that have controlled what they can control and gotten creative have managed to thrive despite the challenges. Instead of sticking to the status quo, many firms have dipped their toes into the gig economy, finding top talent that wants flexibility and remote options instead of the nine to five drudgery. As more businesses implement gig-workforce models, you might be wondering how that will affect workforce trends in 2022. We’re here to tell you and explain the top contingent workforce trends we will likely see this year. The Top Contingent Workforce Trends For 2022 With the rise of what is now known as the “gig… [Read More]
