Importance of Contingent Workforce Solutions
Whether it is a backup plan, or as is called contingency measures, whatever one may call it, every leader knows the requirement for one. This is especially true when the human resources is concerned. When resource demands a shift, the character of the skills that are required to drive it, also demands the shift. If you’re not prepared to staff new requirements with sufficient expertise, you’ll find yourself abandoning a lot of opportunities that could have been profitable otherwise.
Defining Contingent Workforce Management
A contingent workforce management refers to a labor pool comprising of people who hired by an organization for a set period of time, often based on a particular project being undertaken. Numerous companies, today, have a blended workforce. The blend often comprises of a blend of contingent and non-contingent workers.
Who is a Contingent Worker?
A contingent worker can either be a freelancer, or he/she may be an independent consultant, or even a contractor, part-timer, or an on-call worker, or someone in any other type of unconventional work arrangement.
Reason for the Rise of the Usage of Contingent Workforce
Over the years our lives have become technology-centric. Technology continues to completely revolutionize the professional world. The evolution of communication technology enables both, workers and organizations; to become more contented working with each other, irrespective of the office.
Contingent Workforce technology, united with a generation shift, has given freedom to the workers to work from wherever they desire and has permitted them to choose the company or project they would like to work with or on, at a particular time. For numerous people, however; non-permanent work simply fits in their chosen lifestyle. Businesses cannot complain either. With deficiency in skilled workers a common problem faced by many industries, most organizations nowadays depend on swift, flexible and on-demand labor to access top talent, or prepare for a speedy scalability and grow their business.
As a result, these non-permanent workers could produce a wide range of benefits for the organization with which they work. Following are a few reasons to why this Contingent Workforce management is becoming a hit these days:
· With the progress in how organizations or businesses used to work, a growth in the need for digital skills are becoming a necessity. However, companies are struggling to find the right people with the right skills.
· Another reason for the rising demand for Contingent Workforce Management is the rapid outflow of baby boomers leaving many organizations, with vacancies to be filled.
· Third and finally, a swift rise in the Millennials and Generation Z workers who are to make up the major part of the global workforce, without many a times, having a traditional view of the employee-employer relationship.
In a one-tap economy, consumers recurrently look forward to either instant or near-instant services, improved product lines, and continued engagement from a particular company’s customer success team(s). As a result, there is no room to compromise when it comes to possessing market knowledge, or agility, and/or skilled proficiency. However, it would prove to be highly unreasonable to anticipate all of your full-time staff to have acquired every preferred skill. Instead, one could have an influx of stand-in employees- better termed ‘contingent workers’.