Contingent Workforce Management: Here are Top 5 success factors
Today’s industries are giving high prominence to hire contingent workforce rather than hiring permanent employees. Contingent workforce’s are becoming more common in every business in this 21st century. And, many IT and non-IT companies are outsourcing their projects due to the lack of skilled professionals. But, this will damage the company’s profit portfolio as time goes on.
The scenario becomes more complex in the future. The organizations lose their confidence in their employees. A dilemma comes in their mind whether to terminate their workforce or retain.
As a leading workforce service provider, USM suggests augmenting your staff with our contingent workforce management services. Based on your project needs, we provide an ultimate workforce management solution that contributes to your business success.
Proper implementation of a workforce management solution like a contingent workforce service gives tangible benefits to your business. In this blog, with our expertise in the workforce industry, we picked a few different factors that might help your organization in implementing a successful contingent workforce strategy.
Before building your contingent workforce management solution, of course, businesses might face few obstacles, as they are new to that contingent workforce program. But, avoid all and continue to achieve your business targets with contingent employees. The first step is to identify your business/project requirements. Second, analyze all your needs. Finally, streamline your work processes with professional and skilled talent for achieving business growth.
Professional workforce management services provide the right talent at the right time. Never compromise in hiring talents because the workforce is like a growth factor for any business. We understand and analyses your project needs and deadlines, and accordingly, we onboard the contractual workforce quickly. Partnership with USM allows enterprises to generate more efficiencies.
Well, we’ll move on to the topic!
Organizations require more talent for specific projects. They may have a team to work on it, but they still look for new talent to deliver an error-free project on time. So, contingent/contract workers are the best option to fulfill their temporary workforce needs. However, in very few cases, companies are giving permanent roles to the contract workforce based on their performance.
But it’s a very rare case. Then, what the use of a contingent workforce was in compared to permanent employees. The straight forward answer is that the contingent workforce will be sourced with a low budget and delivers high performance!
Yes, companies that implement a contingent workforce management program reduce the capital which they have to spend on the permanent workforce. Using contingent workers for long-time can also provide a stable workforce, boost the return on investment on contingent talent.
By considering all these factors, a robust contingent workforce strategy is significant for businesses. Contingent workforce plan gives organizations access to skilled and professional talent on-demand and reduces operational costs.
A perfect balance between quality and time is a challenge when recruiting contingent workers. Screening of candidate profiles and manual verification of background is a time-consuming process. But, USM uses artificial intelligence powered hiring solutions to augment your teams. The entire hiring process will be automated. We deliver a strong candidate with the required skillset that you are looking for.
Growth Of Contingent Workforce Percent In An Organization
The use of contingent workers over the past decade is increased. The strategy of hiring contingent workers is helping businesses to smartly handle increasing labor costs.
According to a survey, approximately 41.5% of the enterprise workforce is considered as non-employees. It means that the organizations are increasingly hiring a temporary workforce, independent contractors, and freelancers. The figure below depicts the percent of the growth of the contingent workforce in the organizations.
This figure represents how much organizations are spending in sourcing contingent workforce. This new method of managing non-employee leads to an innovative path for businesses in terms of business agility productivity.
Top 5 Trends in “On-Site” Contingent Workforce Management
Many organizations across various industries have steadily increased their use of contingent employees for projects mainly for field service and maintenance. With our expertise, we identified the top trends for on-site contingent talent that you must know in 2020.
- A greater mix of contingent employees in 2020 will be observed
- To tackle complex business challenges, the percent of hiring contingent workforce will be increased in the future
- A blend of contingent and permanent workforce will offer new business opportunities to organizations
- Contingent workforce are professionals, and thus they have enough hard as well as soft skills
- By 2050, 50% of the U.S. workforce will be made up of freelancers or contingent workers.
Total Workforce Solutions
Demand for mixed workforce’s such as full-time employees, temporary workforce, and contingent workforce or contractual workforce is increasing across the industries. The workforce service providers are looking to merge the traditional staffing solutions and advanced and automated workforce solutions to provide better workforce services to their clients.
Driven by over two decades of experience in delivering innovative and results-oriented workforce solutions, USM has the top priority in the client’s perspective. We offer Recruitment Process Outsourcing (RPO), Contingent Workforce Solutions, and Full-time & Permanent staffing solutions to global clients.
To hire the best talents, you need to partner with the right talent suppliers. Be smart in running your company with contingent workers. Talk to USM expert now to get more detailed information on Contingent workforce management strategies. We fill the talent gaps.
Ready to learn more about implementing an effective contingent workforce management program? USM Business Systems have a successful cost management strategy for your company’s contingent workforce.