Freelance Management System & Workforce Solutions specialists, Work Market, recently released their 2016 Workforce Productivity Report. The online survey polled a total of 200 CFOs and Line Managers across a range of industries and company sizes, to gain insight into their views on workforce productivity.
And what we’ve discovered from these findings is with faltering productivity and rising labour costs, organisations are reaping great rewards from engaging contract workers. Check out some of the highlight’s we discovered, below:
‘Workforce productivity is the new definition of corporate competitiveness’
- 82% of business leaders agree that productivity is a top indicator of financial success or failure; and
- agree their company’s productivity has a significant impact upon their industry and the general economy
‘While many businesses may benefit from a productive workforce, the global economy depends on it.’
Top challenges to increasing productivity…
- 44% High employee turnover
- 41% Lack of specialised skills
- 39% Sourcing difficulties
How do contractors measure up?
‘…contractors are viewed as being more specialised than full-time workers as well as having the ability to increase company productivity.’
- 83% of business leaders consider contract workers to be more or just as productive as full-time employees
- 71% of business leaders believe contractors are specialised workers that can be more skilled than full-time employees, while
- 72% believe the increase in specilised labour on-demand is increasing their company’s productivity
100% of CFO’s who don’t have full visibility of their contractor’s data – like pay-rate, time & attendance – believe their organisation would be more productive and profitable, if they did.