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Contingent workforce

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Title: Contingent workforce  
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Subject: Global workforce, Labour movement, Working conditions, Casual employment (Australia), Contractor management
Collection: Employment, Feminism and Social Class, Labour Relations, Workforce Globalization, Working Conditions
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Contingent workforce

A contingent workforce is a provisional group of workers who work for an organization on a non-permanent basis, also known as

  • Human Capital Institute on Contingent Workforce Management - uses term contingent workforce but not defined

External links

  1. ^ from [1]"Workforce Planning and Employment", Quepublishing
  2. ^ from"Contingent and Alternative Employment Arrangements, February 2005", US Bureau of Labor Statistics, Summer 2005
  3. ^ from"Contingent Workforce Management: Developing a Successful Strategy" Procurement Professional, October/November 2005
  4. ^ a b from "Futurework", Occupational Outlook Quarterly, US Bureau of Labor Statistics, Summer 2000, p.36
  5. ^ from, " Ten important issues and trends shaping human resources in 2004", Innovative Employee Solutions, 2004
  6. ^ from, "Banc of America Securities Conference", MPS Group, July 2004, page 21
  7. ^ from,"The Contingent Workforce", Business Week, May 2007
  8. ^ from, "Banc of America Securities Conference", MPS Group, July 2004, page 21
  9. ^ from, "Banc of America Securities Conference", MPS Group, July 2004, page 10
  10. ^ from, "Contingent Workforce Management", The Human Capital Institute, 2006
  11. ^ from, "Workforce Planning and Employment", Que Publishing, December 2005

References

See also

Advantages [11] Disadvantages
Flexibility in type and amount of labor resources Lack of loyalty to employer or company
Save costs in benefits and tax Disturbs organization's core morale and culture
Immediate access to expertise not present internally Training costs
Savings in long-term compensation costs

Advantages and Disadvantages of using Contingent Workers

Trends in the contingent workforce are also impacted by the economy. A study conducted by the MPS Group shows the relationship between the contingent labor cycle and the state of the economy.[9] In a bullish economy, the demand for contingent labor is strong. This is most likely because organizations are trying to grow with the economy, and using contingent workers allows them to work with experts when needed, without the long-term costs of hiring them.
A knowledge-driven economy also contributes to the growth in the use of the contingent workforce because organizations rely more on their specific and expert knowledge and expertise.[10] As demand increases for highly skilled and knowledgeable people, the expertise of contract workers becomes more attractive.

However, there is risk involved in avoiding these costs if an employee is improperly classified as a contingent worker. Using the contingent workforce is also cost-effective in that using contingent labor allows for adjustments to employment levels and employment costs depending on what kind of expertise and labor is need and at what time it is needed. [8] Among several other contributing factors,

Drivers of growth

According to the US Bureau of Labor Statistics (BLS), the nontraditional workforce includes "multiple job holders, contingent and part-time workers, and people in alternative work arrangements."[4] These workers currently represent a substantial portion of the U.S. workforce, and "nearly four out of five employers, in establishments of all sizes and industries, use some form of nontraditional staffing." "People in alternative work arrangements" includes independent contractors, employees of contract companies, workers who are on call, and temporary workers.[4]

Trends

Contents

  • Trends 1
    • Drivers of growth 1.1
    • Advantages and Disadvantages of using Contingent Workers 1.2
  • See also 2
  • References 3
  • External links 4

[3]

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