According to several surveys in the past, attracting and retaining top talent is the top internal stressor for C-suite executives. Non-employee labour can be leveraged on organization-critical projects to provide organizational flexibility, which is key during uncertain times. Contingent labour also impacts D&I initiatives and allows organizations to tap into new talent acquisition strategies.
With the workplace continuing to become more data- and tech-driven, with regulations and risks rising in areas such as employee data privacy, D&I, work-from-home protocols and more. A contingent workforce can be an attractive alternative offering a myriad of tax and benefit risks associated with worker misclassification and co-employment laws.
According to a previouse report, 80% of large U.S. corporations plan to increase the use of a flexible workforce in the coming years, with contingent workers making up over 40% of the total workforce. In addition, 62% of enterprises perceive contingent labour as a vital component of their overall workforce, according to the “State of Contingent Workforce Management” report from research firm Ardent Partners. The pandemic has accelerated this trend. Many companies realized they could shift from full-time in-office workers to a hybrid approach with both employee and non-employee remote workers.
There are indications that 84% of companies have experienced cost savings with managed services programs (MSPs) and 76% have seen savings with vendor management systems (VMSs).
Elevating discussions of the contingent workforce to the C-suite can save an organisation millions, give it a competitive edge in talent acquisition, play a major role in D&I initiatives, ensure proper risk mitigation, and keep the enterprise nimble.
If you want to find out if your company could benefit from engaging with a contingent workforce, contact us at Pendragon Management, we are the flexible workforce management experts. Contact us directly at [email protected] or call us on 02 9407 8700 or book an appointment online.
Source: Kevin Akeroyd Forbes Councils Member Forbes Technology Council