Skilled workers are hard to come by these days. 57% of employers say they lack qualified candidates, and 46% say they’re experiencing a lack of candidates altogether. 50% are also facing difficulty in recruiting a diverse talent pool. But that probably isn’t news for you or most human resources teams —it’s been the norm for much of this year.
To beat these challenges, many recruiters and talent acquisition pros are switching up their strategy and hiring contingent workers around the world. The benefits of global contingent hiring include an expanded talent pool, better cultural fit, cost savings, and more. Today’s workforce is more diverse and global than ever, and tapping into top talent worldwide can help businesses find the right fit for every role and maximize their productivity.
In this post, we'll look at why a contingent workforce is the answer for many businesses hoping to thrive in today's competitive environment.
57% of companies say they can’t find qualified candidates. 🌍 Embrace the power of global contingent hiring to find the top talent you’re looking for:What Are Contingent Workers?
Contingent workers are temporary workers who are not full-time employees of your business. They’re usually hired on a project-by-project basis or contracted for a fixed period of time. Some contingent roles are short-term, and others are years-long or frequently renewed contracts.
A few reasons businesses hire out contingent work include:
- Specialized skill sets or increased headcount are only needed for a specific project or time period.
- The hiring process is faster and cheaper.
- They’re working with smaller budgets for payroll and employee benefits.
Contingent workers may not be permanent employees, but you can establish long-term, mutually beneficial relationships with them. Hiring the same contingent workers reliably helps build trust and ensures you can quickly fill temporary positions when needed.
Did You Know?
Global contingent hiring can reduce payroll costs by 40-70%.
8 Advantages of Hiring Global Contingent Workers GloballyHiring
Leveraging global hiring and contingent workers helps businesses meet staffing needs quickly without going over budget. Let’s take a closer look at eight of the benefits of hiring contingent instead of permanent workers.
1. Expands and Diversifies Your Talent Pool
If you’re looking to fill a temporary remote position, opening up your candidate search globally will instantly grow your talent pool. With a larger global talent pool, you’ll be able to increase the diversity of your candidate pool and workforce. Be sure your job descriptions are inclusive and don’t include language that could discourage some job seekers from applying.
2. Enables Business Agility
Many businesses need more employees or an expert’s specialized skills for a few weeks or months each year or on some projects. Contingent hiring can meet that need without creating a permanent position with too much downtime. It allows for business agility, giving you the ability to scale your workforce up or down to quickly adapt to changing market conditions, meet seasonal demands, or staff unexpected projects.
The Growing Contingent Workforce
- Contingent workers will make up 35-40% of the global workforce by 2025.
- 65% of companies plan to hire more contingent workers.
- The market for global contingent workforce management is projected to reach $465.2 billion by 2031.
3. Saves Money
Hiring employees is no small expense, and neither is having them —employing people adds up:
- Recruiting costs, including job postings and ads, candidate screenings, interviews, background checks, etc.
- Cost of employee benefits
- Administrative costs like payroll taxes, Social Security, and unemployment
- Orientation and training costs
- Lost productivity during onboarding
You can reduce or eliminate these expenses with contingent hiring. Since contingent workers aren’t employees, they are not eligible for employee benefits such as health insurance and retirement contributions, and your business is off the hook for most employment costs. And because you’re hiring them for a specific skill, task, or project, they require little time onboarding or training.
4. Provides Access to Top Talent and Niche Skills
The skills shortage is expected to persist, but employing contingent workers can give you access to top talent with the skills you need. It’s also a means for your company to fill skill gaps for a project or a number of hours that aren’t in the budget year-round.
5. Reduces New Hire Work for HR
Finding, hiring, and onboarding employees involves lots of administrative work for HR and new employees. Companies use global remote recruiting tools to reduce the amount of work for HR, saving hours spent on the administrative side of adding new employees to the workforce.
6. Speeds Up Onboarding
Experts recommend that employee onboarding lasts around 90 days, but temporary positions can be fully ramped by the end of day one. Contingent remote workers only need minimal training on the work they’ll be doing and don’t require the in-depth onboarding full-time employees receive.
🌎Save time on recruiting and onboarding by hiring contingent workers with the skills you need:7. Improves Innovation
Hiring employees from around the world helps you increase diversity, which brings a wider range of perspectives and experiences to your business. A diverse workforce is proven to contribute to more creative problem-solving and increased innovation.
8. Reduces Risk for Your Business
Paying contingent workers is often more cost-effective for businesses —and comes with fewer risks. Businesses are not financially or legally liable for contingent workers in the same way they are for employees. The burden of complying with employment laws falls on the staffing agency or third party you’re using to hire contingent workers.*
*This does not constitute legal advice and is for informational purposes only.
4 Tips for Hiring Qualified Talent in a Global Market
The ability to hire the right contingent workers can be a game-changer for your organization. These skilled professionals can play a key role in meeting business goals. To find the best contingent workers for your needs, consider these four tips.
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Clearly Define the Project
A defined project and clear expectations are the foundation of a successful contingent hiring process. When you know exactly what is needed and what is expected of your contingent workforce, you’re better positioned to hire people with the right skills and expertise. It’s also helpful for potential candidates as they decide whether or not they should apply for the role and increases your chances of attracting best-fit applicants.
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Use Recruitment Tools Designed for Contingent Hiring
Recruitment tools designed to facilitate global contingent hiring are essential for finding the best talent. These tools give you access to an extensive network of job seekers looking for contingent roles and help you identify candidates with the skills, experience, and availability your project requires.
Specialty contingent recruiting tools can handle the administrative side of hiring, too, simplifying payroll and compliance with employment laws. Take hiring tasks off your HR team’s plate, reduce risks for your organization, and streamline onboarding with the right contingent recruiting platform.
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Offer Competitive Pay and Benefits
Though hiring contingent workers is often a more economical option than full-time employees, they still expect fair compensation for their work. Competitive pay attracts top talent and shows you recognize contingent workers’ skills and contributions. You can also offer benefits like flexible work hours, bonuses, or professional development opportunities.
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Provide Feedback and Support
Communicating with and supporting contingent workers is crucial — their performance can significantly impact the projects they work on. Make it easy for contingent workers to get in touch with their manager or supervisor and meet with them regularly to address concerns, offer advice, and keep them on track with their goals. Just as with any employee, offering support and feedback enables them to do their best work.
Global contingent hiring is the right choice for many businesses that need an expert’s niche skills or increased headcount during a busy time of year. It’s an excellent way to diversify your workforce and hire best-fit candidates from around the world.
Find best-fit candidates globally with the help of Growmotely. Put company culture first to attract people who will thrive at your organization. Find the top talent you’re looking for, and let Growmotely handle the rest.
Get in touch to learn more about Growmotely, ClearCompany’s partner in global contingent hiring.
