Casting Call for Contingent Workers

Contingent workers are more important than ever to an organization’s mission—and one of the top global labor trends affecting our post-COVID world.?

The future of work changed with the pandemic. Organizations have had to rethink everything from how wok is done, to maintaining a healthy culture in a primarily virtual world, to the hiring and retaining talent. Contingent workers, especially, received critical attention, with organizations recognizing the holistic value they bring more than ever.

This is just one of the fascinating aspects of our new report series from AgileOne. The report delivers deep insight and recommendations to any organization wanting to conquer its workforce challenges in a post-COVID world. The first installment in the series, Workforce Solutions Market Overview – Building an Agile Workforce after COVID-19 , is a data-rich, one-of-a-kind analysis of the current landscape. We welcome you to access the report here to gain a high-level overview of what your strategies may look like in the future, from the legislative issues you may face to contingent workforce management.

The rise of contingent labor

One of the most significant labor market trends today is the rise of the contingent worker and its implications for organizations. In my recent blog on company culture , I shared that while at least 32% of companies today are replacing full-time workers with contingent labor, they will also need to embrace a culture shift to make sure those workers feel inspired to contribute to organization-wide success. ?

Our Market Overview Report delves even deeper into the contingent part of the equation and why partnering with an expert can help any company better manage the advantages of a contingent-based workforce. The numbers speak for themselves: From 2010 to 2020, the average enterprise’s use of contingent labor doubled to 43%. This is projected to increase by 12% in 2021 and beyond, with 70% of executives indicating they plan to use more contingent labor over the next two years compared with pre-COVID numbers. By 2025, 77% of executives believe freelance and gig workers will substantially replace full-time employees.

Total talent management is the key to success

These numbers are not surprising given the distinct advantages of using contingent labor. Companies can increase their access to specialized talent and skills, enhance their current workforce, increase the speed of delivery, and more efficiently recruit diverse candidates who can bring different perspectives and value to the work at hand.

However, results are not always guaranteed since adopting an effective contingent labor strategy can involve complex considerations that a company may not be equipped to handle alone. AgileOne’s Total Talent Management (TTM) solutions solve these complexities, and companies are increasingly taking advantage of these solutions to ensure they are getting the contingent labor equation right. TTM, for example, can bring procurement, HR, and operational teams to the same table, helping businesses gain the best possible visibility into their total workforce. This visibility enables them to strategically plan around skills gaps, retirements, generational shifts, and more. TTM can also help companies consider contingent labor during financial planning, forecasting, and budgeting so that companies can better manage and control spend. In terms of company culture, TTM can help companies consider how to integrate contingent employees meaningfully, so everyone feels they are working toward the same goals.

Top-5 takeaways

Our Market Overview has five key takeaways for business leaders navigating the new workforce landscape:

1.??????Rethink where and when your employees work to unlock the benefits of remote arrangements and increase access to talent. Even if you’re not ready to go 100% remote, give employees processes and tools that provide work flexibility.

2.??????Transform your supply chain by adopting borderless talent strategies. The right Managed Service Provider (MSP) partner can deliver a robust network of cross-country suppliers, giving you access to the right talent wherever they choose to live.

3.??????Require your MSP to deliver on diversity and inclusion to ensure you’re reaching the broadest pool of candidates. In addition to creating a racially and geographically inclusive workforce, it will help you tap into the tremendous pool of work-from-home individuals who would otherwise not be able to join your business.

4.??????Bring Procurement, HR, and Operations to the same table to collaboratively develop a holistic talent strategy that spans contingent and full-time solutions and delivers maximum value to your organization.

5.??????Leverage contingent workers to access specialized skills, complement your full-time workforce, and infuse maximum agility into your talent management strategy.??

Want to know more? Download the complete Market Overview today.