Why Is The Contingent Workforce Experiencing Such Rapid Growth?

Growth is a seldom used term in
today's economy, however the
contingent workforce has been
growing rapidy.

Research indicates that one third of the U.S. work force is now comprised of Contingent Workers, who are sometimes referred to as freelancers, contractors or temps. This group of workers is growing at more than twice the rate of the full-time work force and the trend looks set to continue into the foreseeable future (Contract Talent: An Imperative for Talent Management in the New Normal, The Human Capital Institute, 2010).

Contingent workers provide convenient, flexible, specialized skills that best fit the changing needs of the modern workplace. Here are the top three reasons companies are choosing to hire temporary employees:

Savings on time and money 

Contingent workers are normally employed by the staffing company that sourced the worker or via an Employer of Record service like Emergent (www.emergent.com). This means that all of the responsibilities of an employer, such as payroll, insurance, legal, HR and benefits administration rest with the staffing company or the Employer of Record – saving the client company time and money.

Short term help

Many companies have a significantly smaller staff that they had a couple of years ago. Yet the same amount of work (or more!) has to be done. Hiring contingent workers on a project basis to help during busy periods with no obligation to continue to work with the contractor after the project is complete.

Opportunity to “try before you buy”

Hiring a contingent worker on a temporary basis with a view to filling a permanent role is becoming increasingly common. It allows both the company and the contingent worker to ensure that they are the right fit for each other. If not, the company is free to end the contract at the end of the trial period without any further obligation.

About Emergent

Emergent provides industry-leading contingent workforce services that help clients save money, decrease risk, and reduce the time taken to find and utilize high-quality talent. Our team will handle all payroll, tax remittance, human resource management, invoicing, accounts receivable, and workers’ compensation insurance at a significantly lower cost. We can also provide contingent workers with access to personal health benefits.

To find out how Emergent can help your company reduce the risk and cost of utilizing contingent staff, complete our information request form or call 855-250-5000.