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Home  >   Contingent Workforce

5 Most In-Demand Contingent Worker Job Types

Contingent Worker Jobs

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]

Categories: Contingent Workforce

Contingent Workforce Trends 2022

contingent workforce trends

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]

Categories: Contingent Workforce

How to Find Talent: Narrowing Down the Right Contingent Worker

How to Find Talent

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]

Categories: Contingent Workforce

What Is An Advantage Of Hiring Contingent Workers?

What is an advantage of hiring contingent workers?

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]

Categories: Contingent Workforce

Contingent Workforce Management: 5 Mistakes to Avoid

contingent workforce management

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]

Categories: Contingent Workforce

Contingent Workforce Trends In 2021

Contingent Workforce

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]

Categories: Contingent Workforce

Why outsource your contingent workforce management

contingent-workforce

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]

Categories: Contingent Workforce

Hiring temporary workers for seasonal workloads

  As the holidays are fast approaching, the demand for temporary or seasonal workers will rise. According to data from the U.S. Bureau of Labor Statistics, employment in the final months of the year has risen by up to 20% the past 6 years. There’s no doubt a growing U.S. economy has contributed to the magnitude of this expansion. The benefits of hiring temporary workers to boost your company’s productivity during seasonal demands cannot be understated. Some of the benefits of hiring temporary workers include: Provide flexibility in uncertain economy Smaller companies need to stay flexible when it comes to their workforce. Uncertain economic times are inevitable. Businesses are bound to experience periods of both increased and decreased customer demand. Being able to ramp up a workforce and, subsequently, scale it back when necessary is a very desirable tool for business owners. Introduces your company… [Read More]

Categories: Contingent Workforce

The Three Buckets of Contingent Workforce

types-of-contingent-workforce

  HR professionals in today’s ever-changing workforce climate are told to accomplish more with less. Tightening talent pool, changing technologies and trying to keep your employees happy are calling for more flexible and creative ways to solve your workforce challenges. Fortunately, becoming more strategic is in our DNA. For many, that increasingly means who we hire to help build the future of our companies. The contingent or contract worker has exploded in the last few years, growing from 10% of the workforce in 2010 to a predicted over 40% of the workforce by 2018, according to reports by the U.S. Government Accountability Office. This can certainly be credited to the rise of the gig economy in global markets. There are many categories of contingent workforce, below I drill down and try to categorize 3 common members of this labor pool.  The Temp Worker This category… [Read More]

Categories: Contingent Workforce, Employer Of Record

Get Real Savings Through Third-Party Payrolling

third-party payrolling

As organizations increasingly rely on contingent or contract workers to fill mission-critical roles, business leaders are looking for ways to boost their company’s bottom line savings. One scenario where this can be the case is the MSP/Vendor rate of third-party payroll utilization – the percentage of spend for contingent or contract workers who are sourced directly by the organization and W2 payrolled by a third party vendor. Increasing third-party payroll utilization offers many benefits to companies, from driving down costs to streamlining the talent acquisition processes and even reducing risk. Not all vendors, however, are structured for or support this approach. For example, when utilizing a staffing firm or staffing-aligned MSP to source for your open positions, be prepared to face markups that can range from 35% to 50% for agency-supplied workers. Rather than accept these markups unconditionally, business leaders should look for opportunities available… [Read More]

Categories: Contingent Workforce, Employer Of Record

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