A recent survey, partly commissioned by Time magazine, looked at how companies are coping with new workforce trends such as the growth of the contingent workforce and on-demand economy. Here we’ve put together some key findings from the Workforce of the Future Survey that help determine just how well contingent workers are measuring up.
The Workforce of the Future Survey was conducted online and interviewed 800 employers.
- 60% of the employers surveyed report using contingent workers
- of the 60% above, 57% of employers expect to use more contingent workers in the future
- 90% of employers specify using independent contractors for flexibility & high-end skills, as the need arises
- 86% of employers who have used contingent workers cited cost savings as their reason
- 97% of employers who use independent contractors are satisfied with their performance
- 80% of employers that engage contingent workers say they do so ‘because they can quickly adjust the size of their workforce, save money on benefits and tailor the worker to specific tasks’
- only 58% of employers believe full-time employees to be more loyal than independent contractors
Other Key Findings
- 35% of employers state they will increase the amount of on-demand economy services they use & provide in the next 5 years
- 68% of employers are favourable towards the on-demand economy
- 52%of employers believe the on-demand economy is creating more wage-earning opportunities for workers
Do you have experience with the working with a contingent workforce? Any stories to tell? We’d love to hear from you in the comments section below.