Who is Leading the Contingent Workforce?
The contingent workforce is backed by the millennial generation. How will you use this generation’s unique skills to your business’s advantage?
When considering implementing contingent workers into your company’s workforce, the question is no longer “should” you utilize these workers, but “when” will your company embrace and utilize the largest growing workforce in America? By 2020, one half of the nation’s workforce will be contingent, according to Forbes . But what factor is pushing this new way to work into the mainstream economy? The answer lies in the most important generation of the 21st century – the millennials.
The overarching reason why the contingent workforce continues to grow is the generational shift in our economy itself. Millennials currently make up over half of the nation’s workforce and that is only expected to grow. Human resource leaders throughout all industries are grappling with how to adjust to this demographic. According to Governance Studies at Brookings, by 2025, the millennial generation will make up 75% of the nation’s workforce. Now, why is that important? Because the millennial generation is the driving force behind the contingent workforce. As the more “old school” Gen X and Baby Boomers start to retire and leave the job market, the millennials will hold the majority, as will the contingent mindset of work.
Creating a More Flexible Work Schedule
If you’re a business using the traditional “Monday through Friday, 9 to 5” routine, now would be the time to make some changes. There is no need to completely revamp your entire work schedule, however tweaking the little things could lead to a more productive team. Allow a more flexible schedule that compliments a work-life balance. In a recent study done by Bentley University, 77% of the millennial workforce feel they are more productive with a more flexible work schedule. With the latest technology in file sharing and remote workplace communication, allowing a more flexible work schedule or flexible work locations won’t be detrimental to your company.
It’s All About the Skills
Another attribute that the millennial and contingent workforce are putting heavy importance on when looking for a job is growing their current skillset. Not only from an inward perspective but outwards as well. Learning a new skill has been easier than ever with thousands of certified online training programs on almost any skill imaginable from coding to cooking. Millennials are also inclined to help others, therefore you should let them put the instinct to good use by letting them teach your other employees unique skills that they may pertain. It will give them an even greater sense of worth in the company and allows them to delve away from their usual job responsibility.
We understand that shifting your workforce to a more contingent style seems intimidating. However, more and more companies each day continue to add this work style to their business model. In a survey done in 2015 by Deloitte Human Capital, 48% percent of companies surveyed expressed their plans to increase their contingent staff, and that percentage is growing year by year. Take comfort knowing that you have strength in numbers when adding contingent workers to your business model. Another understandable concern with hiring contingent workers is keeping them. However, temp-to-hire can solve that problem. You are able to hire a contingent worker full time if you feel that they are a right fit for your company.
There has never been a better time to adapt your workforce to contingent-based style. The millennial generation is the most prevalent demographic available on the job market today, and they want to work. Let us help you match with them. With tilr, you can fill a job in no time. If you would like to schedule a demo, email us at email@example.com.