In this new era of digitalisation, workforce models and hiring strategies are constantly evolving to increase efficiency in the professional workforce, which is the powerhouse of any business and backbone of the global economy. With the pandemic leaving a long-lasting impression on the way we work, it’s no surprise that many are moving away from traditional business models, opting for structures that allow for more flexibility and are mutually beneficial.
Leveraging a contingent workforce is one of the ways companies are retaining a competitive edge. Many younger workers are leaning more towards white-collar contingent work (otherwise known as contract work) because they seek more flexibility and freedom both in and out of work. A study by the ADP Research Institute, ‘People at Work 2021: A Global Workforce View’ revealed that APAC is showing the largest increase in interest when it comes to contract work. 6 in 10 workers are now showing more interest because of the new opportunities that contract work can bring.
Why should contractors be part of a recruitment agency’s strategy?
A contingent workforce remains a strong workforce solution to many of the challenges end-clients face with regards to securing the right talent. Connecting end-clients to people, talent and skills that they would otherwise be unable to secure can increase an agency’s competitive advantage.
Most contingent workers also come into an organisation or team with a lot of experience under their belt, which also means that companies spend less time training them. Introducing contingent talent can also provide flexibility to a business with headcount limitations that may need to bolster teams in the immediate-term.
Growing an agency’s contracting desk and staying connected to a wide pool of skilled contract workers will increase effectiveness and productivity in supporting end-clients.
Closing the skills gap
As borders between countries remain shut through the pandemic, it may prove tougher to fill the widening skills gaps for many clients who previously relied on foreign talent to propel their businesses forward. However, border closures do not necessarily equate to the talent pool running dry. Filling up the short-term gaps with contingent talent is a great way for organisations to remain efficient and productive through these difficult times. Agencies that facilitate these placements have a lot to offer clients by way of expanding the quality and type of talent they can bring to the table.
International engagements are also a highly attractive option for clients who require specialist skillsets that are not currently onshore. Since the start of the pandemic Entity Solutions, a People2.0 Company, has supported end-clients and recruitment agencies by facilitating engagements all around the world, to keep projects running on-time and within budget.
Keeping contingent talent happy and engaged
To get the most out of contingent talent, end-clients and agencies need systems in place so that workers can perform well and hit the ground running. Therefore, proper integration and training programmes should be formulated and kept up-to-date.
Ensuring a smooth transition into their roles and making them feel welcomed will allow contingent workers to feel more confident about their ability to contribute positively, which will in turn encourage them to be more productive. Quick and easy onboarding, useful digital platforms and ensuring contractors get paid on time will all contribute to getting the most out of these talents.
This is where it’s helpful to engage a contractor management organisation to take on all the compliance and payroll burden.
Why outsource contractor management?
While some agencies and end-clients may choose to integrate their contractors into their usual HR systems and practices, many also choose to outsource contractor management. While engaging contingent workers can help end-clients run key strategic projects, managing a contingent workforce can come with considerable administrative and legal burden. Outsourcing compliance, administration, payrolling and more can help agencies and end-clients save time and money, while also minimising compliance risk.
Outsourcing contractor management also means tapping into the IT expertise and solutions of a contractor management organisation to build a seamless experience for contingent talent. From a smooth onboarding and clocking in hours through a digital system, to payroll financing, outsourcing can really make a difference to contingent workers, increasing their efficiency and productivity at work.
Interested to learn more about contingent workforce management and trends? Get in touch with us today at [email protected]