Tips to help you attract, engage and retain skilled contingent workers
New world. New ways. As a result of the pandemic, contingent workforce numbers around the globe are well and truly on the rise. In Singapore for example, it is anticipated that half the workforce will be contingent by the end of 2021. (1) It’s the same picture for other developed economies worldwide too.
The trend, of course, had been evident pre-pandemic, simply because contingent workers offer companies so many advantages. Among them:
Flexibility: You can expand or contract your workforce according to workloads or a changing environment. Something you can’t do with employees
Cost savings: You don’t have to maintain full time employees for 52 weeks per year. You also save because contingent workers do not receive all the benefits and entitlements that traditional employees receive. Some studies suggest that traditional employee benefits may account for up to 30% of an employee’s total costs (2)
Quick access to expertise: Contingent workers represent a slick way to fill a skills gap within an organization, or to upskill fast to meet new challenges on a project by project basis.
A fresh perspective: Sometimes it’s hard to see an effective way forward. Specialist staff with a fresh outlook could make all the difference
Fast hiring: Hiring for your business is often a complicated, time-consuming and costly process. There’s far less red tape if you choose to contract a contingent worker
Freedom to trial new approaches: For any company, diversification can be a confronting issue. If a company takes on temporary staff they can more easily trial new approaches
But with the new corporate gold rush towards contingent workers comes intense competition – a phenomenon being exacerbated by the current skills shortage as business picks itself up from the Covid king hit of 2020.
As a business, you need to make yourself an attractive proposition to prospective candidates, and smart companies will develop an all-embracing Contingent Workforce strategy they can refine over the years.
Motivating Contingent Workers
Here’s just a few timely tips you should consider as you put together a plan to attract, Engage and Retain contingent workers.
Cast a critical eye over your Employer Value Proposition (EVP) and put yourself in the shoes of a contingent worker. Look past salary. It’s critically important of course, but it’s just a ticket to the dance these days. Then ask yourself a few questions.
- Are the benefits we offer attractive options for contingent workers in our industry?
- What might be more desirable to them: salary, career/skills development, or opportunities for permanent work?
- When recruiting, does our company’s brand and culture resonate?
- How can we improve our brand and cultivate our own community of contingent workers?
There are so many other ways to motivate contingent workers too. For example:
Skills development and advancement opportunities within your ranks are distinguishing factors that can attract valuable talent over your competitors. As industries transform—with digitisation, for example—upskilling and reskilling is critical for all workers, so it’s essential to make this an integral part of your employer branding
Flexible hours are essential these days., Workers want flexible schedules to accommodate work-life balance.
Health and wellness. Offering some degree of health benefits can help to distinguish you from competitors.
Accommodate family needs: Contingent workers are just like you and have important family responsibilities – as parents and caregivers – so you need to offer flexiblility. As a result you’ll have a happier workplace and a more attractive EVP
A pleasant work atmosphere: Research shows it’s a key motivator for contingent workers, especially younger workers
In these times of skills shortages, contingent workers have the option to pick and choose. If they like the experience they will offer you their services over a long period of time. And tell others the good news. Word-of-mouth can really work for you; which is why it’s even more important that your company has a culture that attracts and nurtures both full-time and contract workers.
How can you retain contingent workers?
It’s all about the total package of course. Generally speaking contingent workers seek the same personal benefits permanent employees seek in a job. And they need to be properly managed as well.
Which is why many companies will utilise the services of an experienced Managed Service Provider (MSP) like CXC who will manage all aspects of your contingent workforce, including compliance, payroll and the very latest technology management platforms.
Contact us today to find out how you can improve the performance, efficiency and effectiveness of your future workforce.