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The contingent workforce is heavily utilised in organisations across industries worldwide. 47% of the enterprise workforce was contingent in 2022 and professional staffing spend grew 70% from 2018 to 2022. As more businesses depend on these workers to fill critical roles, they're investing in attracting and retaining them.
However, many face challenges stemming from a fragmented approach to workforce management, including limited visibility, reduced talent quality, inefficiencies, and more. But organisations can implement several proven strategies to overcome these complex challenges and fully optimise their contingent workforce management.
1. Improve Visibility
While it's important to know what's going on inside your extended workforce, many businesses lack the processes and technology necessary to provide accurate headcount reporting and various other workforce analytics. Identifying the appropriate partner or internal resource to assist in gathering this program data and extracting useful information from it is crucial for shaping a comprehensive workforce planning strategy. Acquiring industry-specific and labour market insights will also assist in understanding exactly which solutions will provide the most important business outcomes.
2. Limit Compliance-related Risks
Partnering with an Employer of Record (EOR) with integrated compliance services can greatly reduce risk to the business. Reducing compliance risks requires proper employee classification at every stage of the hiring, sourcing, and management process. Some integrated solutions can also help managers keep an eye on employee assignments and hours, and make sure they're not only adhering to applicable legislation but also fulfilling the terms of their contracts.
