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]

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]

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]

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]

In a world that is becoming increasingly volatile and unpredictable, many business leaders are turning towards a contingent workforce to meet the demands of their industry. For those that are not familiar, a contingent worker is someone who is hired for a fixed period of time. There are three significant categories of contingent workers: temp workers, consultants, and independent contractors.  There are numerous advantages to hiring contingent workers from the employer’s perspective, including financial savings, skill acquisition, and flexibility. One of the main reasons why businesses seek out contingent workers is that they need specific talent to perform certain skills. According to a 2018 report by ManpowerGroup, 45% of employers can’t find the skills they need. Hiring contingent workers may be the best solution, however, determining how to find talent and securing the right person for each role is easier said than done. Here are… [Read More]

Today’s business world requires employers to be flexible, adapting quickly to changing needs. What is an advantage of hiring contingent workers? Hiring contingent workers is an excellent way for business owners to remain agile, fill talent gaps, have the help they need when they need it. The ability to pivot quickly is more important now than ever as the world navigates a global pandemic with a tight labor market. To fully harness the power of the contingent workforce, business leaders must first understand the different types of contingent workers, the advantages of hiring contingent workers, and all of the potential pitfalls.  Types Of Contingent Workers  There are three significant categories of contingent workers: temp workers, consultants, and independent contractors.  Temp workers are ideal for project-based assignments or seasonal workloads. These workers range from lab assistants to quality assurance testers and sales associates to help teams… [Read More]

Contingent workforce management requires a different set of leadership skills than a traditional HR strategy for W2 employees. Many employers see the value contingent workers bring to their organization, but shy away from the opportunity to employ them. This is often a result of confusion around rules and regulations. Working with a partner like NexusCW is a great way to facilitate the process correctly. However, it’s also helpful to understand where most companies go wrong to set yourself up for success before launching your candidate search.  Even if you have an experienced contingent workforce management team, you may still be making some of these common errors. Here’s an in-depth look at what not to do when making your next contingent hire. Read on for our top five mistakes companies make when hiring contingent workers. 1. Paying Below Market Value Most contingent workforce management teams understand… [Read More]

Though our country’s economic future remains uncertain due to COVID-19, businesses are rising to the occasion pivoting their operations toward a contingent workforce to adapt to every twist and turn that the pandemic has thrown them.    For many companies, adapting means securing the right talent at the right time. To do this, firms may choose to engage in co-employment arrangements. Co-employment or contingent employment is where a contract employee works for both a business and a staffing agency concurrently. Co-employment arrangements allow busy companies to provide co-employees’ duties, day-to-day schedules, and expectations. Simultaneously, the staffing agency handles personnel matters such as onboarding, payroll, sick leave, and benefits. Though much remains uncertain as we head forge ahead in 2021, it’s clear that organizations are evolving and adapting to the new “normal.” Here’s what to expect regarding the contingent workforce.  The Top Contingent Workforce Trends For… [Read More]

The contingent workforce has been consolidated in the last few years and is here to stay for the foreseeable future. Companies utilize this sector of the workforce for all sorts of purposes from project base assignments to fulfill skill shortages & absences. The question arises, does your organization’s HR department has the bandwidth to identify, vet, and onboard contingent workers without disturbing their daily operations and without taking them away from your companies full-time employees. The answer to that question is, well it depends. Today’s contingent workforce is vastly different than it used to be. These workers are highly trained, specialized, and in-demand professionals. Moreover, they expect to be treated as such. Making sure the procurement process goes smoothly, guarantees employee satisfaction and retention. Identifying the right contingent worker: According to the Society for Human Resources Management (SHRM) it takes approximately 36 days to fill… [Read More]