Optimize Your Contingent Workforce- Why & How?
When it comes to upgrading your business, from a labor and upgradable income viewpoint, a contingent workforce is the chief component. Throughout the global health crisis, organizations and persons greatly become accustomed to the challenges at hand. Usage of contingent labor has therefore, now become a part of their business strategy which reduces the permanent payroll costs, as well as filling gaps in valuable skills, and escalating workforce flexibility, surrounded by other benefits.
Short Historical Overview of Contingent Workforce
Post 2008 to 2009 financial break, there was vertical rise in the contingent labor that is being used by large number of organizations. However, the excitement to an extent, wore off as the global economy stabilized. However, the year 2020 saw a re-boost in the gig economy. Gartner, an international research team has revealed that 32% organizations were substituting full-time employees with temporary ones, namely contingent workforce. Moreover, it is expected to escalate to 40-50% in the post-pandemic era.
3 Ways of Optimizing Contingent Workforce
Flexibility and Ability to Adapt
The recruitment and staffing related industries have, earlier, followed a pretty strict and inflexible means for HR functions. However, the present pandemic-plagued era demanded a change. As a result flexibility became the mantra for plenty of organizations. The pandemic has necessitated absolute remote hiring and the online on-boarding processes have widened the understanding of how organizations can work. Hence, there has also been an enormous potential for growth in diversity as well as accessibility within the industry.
In order to acquire and measure the quality of the organization’s contingent talent, there are various HR analytics to help maintain a consistent premium contingent talent profile.
Bona fide workforce dexterity is developed via vibrant outlets of contingent talent that can be occupied in a real-time and on-demand way basis.
Power of Artificial intelligence
Artificial Intelligence has now turned out to be an influential augmentative tool which helps to identify the enterprise skill gaps. Moreover, Artificial Intelligence facilitating you to craft a repeatable talent to outreach and those who nurture the communication, and then developing talent rediscovery and rearrangement strategies, and remove prejudice in talent acquirement and recruitment potentials.
Empathy, the Way to Go
In a world ravaged with an ongoing pandemic, competition for talent has becomes pretty strict. An all-inclusive workplace culture has now persuaded and prioritized the human links sandwiched between leaders and their staff. Therefore, an act of empathy is very important.
HR technology is a rapidly fame gaining segment in the world of IT and workforce management. Moreover, it can significantly support your contingent workforce-hiring and quality measures. The most important plays in HR tech world which helps in managing the quality o contingent worker. Some of these are: VMS (Vendor Management System), The Talent Cloud: Online Market Places
When managed with diligence, contingent workers add on as a positive addition to your business and its workforce, Contingent workforce helps you not only endure critical times, yet the contingent workforce thrives in them. What seems to be challenging is managing them additionally with your already lasting workforce. However, this requires a perfect approach, a correct plan, and proper tools, This workforce enable you to take full advantage of the value they bring to your business.