• Complex Work Projects:
    • Contingent workforces provide companies with better solutions for executing complex projects. These projects often arise unexpectedly and may have tight time frames for execution. A recent survey by PwC revealed that finding employees with the right skills remains a top concern for global CEOs. As technology evolves rapidly, organizations can’t always find the necessary talent within their own ranks. Therefore, procuring and managing highly skilled workers becomes a crucial value-add strategy. Research by McKinsey & Co. shows that high-performing workers are approximately 400% more productive than average ones1.
  • Technology:
    • Freelance Management Systems (FMS) now offer intelligent matching capabilities, efficient data management practices, automated compliance processes, and user-friendly interfaces for direct sourcing at scale. These systems interact with Vendor Management Systems (VMS) and Human Capital Management Systems (HCM), allowing hiring managers to engage the best talent across the continuum. Advancements in FMS technology enable companies to access the right talent at the right time, empowering skilled professionals to thrive as independent workers.
  • Innovation and Collaboration:
    • As demand for highly skilled freelance workers grows, traditional hiring practices evolve. Freelance management systems provide a platform for diverse viewpoints, fostering problem-solving and collaboration. Procuring hyper-specialists in specific fields can positively impact company culture and drive innovation. The cross-flow of ideas from skilled professionals enhances creativity and drives better outcomes.
  • Flexibility and Agility:
    • Leveraging contingent workers allows organizations to adapt swiftly to changing business needs. Companies can scale up or down as required, avoiding the fixed costs associated with permanent employees. This flexibility ensures agility in responding to market shifts, project demands, and industry trends. Additionally, skilled professionals bring fresh perspectives, enriching the workforce and enhancing overall organizational resilience.

In summary, tapping into the expertise of highly skilled professionals through contracting work not only addresses immediate project needs but also contributes to long-term innovation, efficiency, and adaptability for businesses1.