According to the latest information from the Aberdeen Group, the use of contingent labor -- including independent contractors, SOW consultants, and temporary employees hired on a contract basis -- has increased 20% over last year.
Clearly, contract labor is in demand as companies struggle to emerge from the recession into an uncertain recovery. Using contract talent is one approach that helps organizations maintain a flexible, just-in-time workforce.
But this dramatic increase in the use of contingent workers presents incredible challenges, too. Without strong processes in place, costs can spiral out of control, the quality of the talent can suffer, and businesses can become exposed to tremendous risks should the use of the contingent workforce fail to meet compliance and regulatory requirements.
What are the most successful businesses doing to drive compliance, quality, and return on investment in their contract talent programs? And what steps should an organization take next to get the most out of using independent contractors and statement of work consultants, while avoiding coemployment and misclassification risk?
The latest research report from the Aberdeen Group, Contingent Labor Management: Strategies for Managing the Complexities of the Contingent Labor Umbrella, gives readers new insights on how Best-in-Class organizations are navigating the contingent labor landscape. New this year, the report has an expanded scope to include new categories of spend in the contingent workforce, including project/services spend.
Download your free copy of this new research today with the link above, and find out what these Best In Class companies are doing to drive 76% higher cost savings and 45% better labor law compliance than their peers.
MBO Partners defines direct sourcing and related terms relating to the new world of work.
As 2016 winds to a close, we at MBO Partners like to take time to reflect on what has changed in preparation for the year ahead. As is common in any fast-growing industry, we marvel at how much has changed in the past 12 months, and how much will likely change again as we head into and through 2017.