How the Gig Economy Is Changing Labor Strategies

Scott Fraleigh

From The Staffing Stream, Scott Fraleigh offers great advice on how to develop an effective strategy to manage freelancers and independent contractors to meet the needs of today’s workforce.  Scott writes:

“In a positive sign, Randstad Sourceright’s Talent Trends survey found that nearly half (47 percent) of HR leaders say they factor in independent contractors as part of their talent acquisition strategy. While the gig economy has no doubt created some enormous opportunities for employer and job seeker alike, it has also resulted in some confusion as to how companies can adjust their talent acquisition strategies accordingly.

So, what’s the best way forward for companies seeking to optimize their freelance talent acquisition strategies? Consider the following five tips to develop an effective strategy to manage gig workers and meet demands of today’s changing workforce:

  1. Understand company needs: Without clear visibility into the organization’s talent needs, both short term and long term, it will be difficult to understand the best resources to meet company objectives. Identifying which skillsets and experience will be in-demand today and tomorrow, and how contingent labor can fill those gaps, is essential to success in the gig economy.
  2. Focus on quality: The best talent isn’t necessarily an individual seeking a permanent role. As more skilled workers seek greater flexibility, the ideal candidate for a particular position may be someone who stays with the company for a defined period of time to meet immediate needs.
  3. Think outside the box: Just because a certain role has always been filled by a permanent employee doesn’t mean that a contractor can’t get the job done as well. They may even deliver better results more cost effectively. Therefore, it will be worthwhile to look at how flexible labor can be used instead of, or in addition to, permanent hires to deliver on key business objectives.
  4. Prioritize engagement: As your company seeks to attract all types of labor, it is important to consider how the employer brand is perceived across the entire employee population. It is essential to communicate the employee value proposition effectively to all potential talent and how the company can help them meet their professional goals and attain personal balance, whether they are a traditional employee or contract worker.
  5. Ensure compliant practices: A flexible talent strategy may introduce more room for non-compliant practices if not managed carefully. Keeping an eye on regulations and ensuring contractors don’t work in ways that could blur the line between contractor and regular employee should be a priority.

Read the full story at How the Gig Economy Is Changing Labor Strategies

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