It used to be that whenever the economy got a little shaky, CEO’s and HR departments across all industries frantically turned to dilute their company’s internal workforce; good economy traditionally meant it’s time to grow and expand internal workforce, while bad economy was usually a sign for recruiting outsourced talent and save costs.
But recent global developments and increasing market dynamics have all rampaged the global employment industry, and market researches time and time again show a drastic shift in employment trends: global companies now seem to steadily increase their pool of contingent workforce, even when the market shows signs of prosperity.
In fact, a global contingent workforce is now estimated to comprise up to 30% of procurement spend for some companies, and represent a larger share of the workforce than company employees, for others. 1
How does this make any sense?
After all, why should companies invest in outsourced labor when the challenges are often overwhelming? –
- Ever-stricter government regulatory restrictions
- Tedious and complex employee data analyzing
- Poor and inadequate technology to support the size and bureaucratic complexity of offshore operations’ hiring
And we didn’t even mention the legal, financial and public relations risks, or how long it takes to recruit skilled talent for the company’s needs!
So, why turn to a global contingent workforce?
The answer is simple, but rather exciting – contingent workforce is power.
Let’s try and break this down, shortly –
Without getting into another fascinating tale of global market dynamics in recent decades, suffice it to say that in today’s global market, the combination of increasing shortage in critically skilled workers on the one hand, and acute need for flexibility and responsiveness on the other- created a pressing need for quality, on-demand global employment solutions.
Managing off-shore employees suddenly got easier with great tools for international employment services like Github, Slack, Trello and others, and gradually, global companies began to realize that the only chance of any successful global growth is by engaging quality contingent workforce, not as a cure for financial hardships, but as a strategic choice in times of prosperity, for business growth and organizational expansion.
In other words, global employment today should be seen as an asset, not as a burden to be handled.
More time, more money- the rising power of contingent workforce
Imagine handling your contingent workforce was no longer even an issue, clearing the way to all the benefits it offers:
Contingent workforce first and foremost gives you the power to acquire the most specific set of specialties and skills. It enables quick adaptation to market changes, rapid scalability, skill development, expertise sharing, best available talent- these are all just some of the reasons why contingent workforce is the most powerful employment strategy today.
This is exactly the new way of thinking about global workforce today, and it’s possible thanks to a few revolutionary mile stones:
- Transparent and direct access to local suppliers everywhere, with no middlemen and third party costs. The power to choose the best available suppliers freely, is now in the hands of the company.
- Adequate technology to support that massive employment data and provide timely vital business intelligence insights, thus eliminating compliance concerns, tracking financial status and most importantly- sourcing and staffing the right talent according to the right business needs.
- Trusted engagement thanks to verified suppliers and safe transactions.
And the good news?
Using managed service programs and global employment solutions to handle your contingent labor is no longer a luxury for multibillion companies alone. Today even small companies can benefit a large range of global suppliers with the right platform.
And with no more contingent workforce management concerns, all that’s left is more time and more money to spend on finding the best talent and grow your business globally, with the best skilled teams in every location.
The old and the New
So yes, old power structures are not easily broken, and the global employment industry is still largely forced to follow the same old-fashioned work employment solutions offering expensive, inefficient and completely non-transparent services for contingent workforce management.
But times do change, and so does the global employment industry –
Welcome to the new era of a simple, innovative, cost-effective contingent workforce management that gives you real power.
We’ll give you a free consultation on your global workforce needs and compliance
1 Deloitte. (n.d.). Contingent Workforce. Retrieved from here