The gig economy is changing the way businesses operate. In fact, as many as 2 million Canadians fell into the temporary worker category in past few years. This contingent workforce is growing each year and the benefits that it can provide your business might just be worth looking in to.
So, What Exactly Is the “Gig Economy”?
This temporary workforce is made up of freelancers, consultants, contractors and temporary workers that can help your business fill in voids related to staff shortages, specific skill-sets, special projects, remote locations and much more. Additionally, contingent workers can contribute bright new solutions to issues that may have been overlooked, increase efficiency and provide your business with a dynamic workforce to navigate the ever-changing landscape of the working world.
Unlocking the potential of the contingent workforce does come with its challenges. Fortunately, we have some tips to help you manage these workers more efficiently.
Create a Cohesive Strategy
The contingent workforce needs to be handled with a cohesive, company-wide strategy. Organizations will often task individual department managers with the responsibility of managing temporary workers without a unified strategy in place. This strategy (or lack thereof) can result in contingent workers being disengaged, unsupervised and overpaid – costing your business time and money.
A contractor management firm can assist you in creating a contingent workforce management strategy, or even completely take care of managing these temporary workers all together for you.
Gain Visibility on Spending
If your business doesn’t have a cohesive contingent workforce management strategy, it’s safe to say that you also don’t have complete visibility on what you are spending on temporary workers. You might be surprised to find out how much money can be wasted on inefficiencies related to contingent workers.
Devising a strategy that highlights fair market rates for differing categories of workers can provide clarity for all departments heads who seek out contingent workers and ultimately save your business from unnecessary costs.
Don’t Be Afraid to Outsource
A contingent workforce requires care and attention. This additional management can be overbearing for some organizations to execute successfully and can prevent them from unlocking the potential of a non-permanent workforce. Fortunately, contractor management firms such as BOWEN Group are equipped with the expertise to advise your business on best practices to manage your external talent.
Outsourcing this task can provide you with peace of mind knowing that your contingent workforce is operating at maximum efficiency – allowing your business to reap all the rewards, while minimizing the headaches.
Choose Technology That Fits Your Business
A Vendor Management System (VMS) that doesn’t align with your business can exaggerate these issues. As mentioned previously, most organizations have segmented contingent workforce programs across different areas of their business. This disorganized behavior in conjunction with an inappropriate VMS can lead to inconsistent hiring practices, increased error and inefficiencies in the process.
Implementing a VMS that aligns with your company-wide contingent workforce management strategy will save your organization time and money by increasing productivity, improving efficiency and creating an environment where contingent workers can thrive.
BOWEN Group’s extensive history in contingent workforce management provides the expertise and experience to unlock the potential of your contingent workforce or explore the possibilities of the gig economy. Reach out to our team to learn more on how you can benefit from contractor management.