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 five most in-demand contingent worker job types.
In-Demand Contingent Worker Job Types
A contingent worker works for an organization without being a full-fledged employee. Contingent workers can work under a contract, on an ongoing basis, for a predetermined term, or on an as-needed basis. Examples of contingent workers include temporary workers, interns, contractors, on-call workers, and part-time workers.
Temporary Workers
A temporary worker, also referred to as a temp, is hired as an employee with a short-term tenure. Some temp workers may be employed full-time as a company grows. Temp workers are an excellent way for businesses to fill talent gaps, manage seasonal workloads, or cover another employee’s absence.
Around three million temporary and contract employees work for staffing companies on an average week. 20% of workers say schedule flexibility is their reason for choosing temp/contract work.
Interns
An internship is a temporary role where students undergo professional learning experiences in their field of study or career interest. An internship is an interim period of work experience offered by an organization, which may become a full-time role when a student graduates. In a tight labor market, businesses can utilize interns to help with increasing workloads and build their workforce.
70% of organizations offer full-time positions to interns, per National Association of Colleges and Employers data.
Contractors
A contract worker, also known as an independent contractor or 1099 employee, is a worker who enters into a contract with a business to provide a specific service. Contractors are not employees and may work for one or multiple companies at once. The main advantage of contractors is that they provide talent for less cost than full-time employees. Contractors do not receive a salary or benefits but are highly skilled in their trade.
In 2021, there were about 24 million occasional independent workers in the United States, up from 13 million in 2017.
On-Call Workers
On-call employees are full or part-time employees that are on standby until called to work. On-call workers may respond to emergencies, maintenance malfunctions, or work absences that require them to cover others’ shifts. They may also be called upon when there is an unexpected surge in customers. On-call work isn’t for everyone, but it works well for those that may be retired or have highly-flexible schedules.
20 million Americans—approximately one in five employed persons, do not work a standard daytime schedule, alternating between day, evening, and night shifts.
Part-Time Worker
A part-time job is a form of employment that carries fewer hours per week than a full-time job. Typically, anyone that works less than 30 hours per week is a part-time worker. In the past, when there were more applicants than jobs available, part-time work was accepted out of necessity. Today, many workers chose part-time work.
According to FlexJob, “Two-thirds of the 20 million are working part-time because they have family obligations, are attending school, or are semi-retired. The final third are the six million who work part-time because they don’t want to commit to one job or one employer.”
In March 2022, around 26 million people were employed part-time in the United States.
Bottom Line
Today’s workers are in a unique position of power with more job openings than applicants. Companies are growing increasingly desperate for talent, raising wages and offering flexible hours. In their struggle to find labor, businesses turn to the contingent workforce at increasing rates. Temporary workers, interns, contractors, on-call workers, and part-time workers are in-demand with no signs of slowing anytime soon.
If you want to build your contingent workforce without the hassle of recruiting, contact NexusCW today.
