Contingent Workers and Why Your Business Needs Them
All signs point to the steady, ongoing rise of contingent workers. But who are they exactly?
They’re the independent contractors, freelancers, and consultants who work for your company but aren’t on your full-time staff. And, according to this study, contingent workers will make up the majority of the workforce within a decade, while nearly 50% of millennial workers already count themselves among their ranks.
There are plenty of reasons why so many people are choosing to become contingent workers. Being a freelancer offers freedom, flexibility, and the autonomy to choose who you work for and how many hours per week — and the businesses who hire contingent workers enjoy many of the same benefits.
But if you’re still unsure about how your company can benefit from contingent workers or how they’ll fit into your larger strategy, here’s a brief overview to bring you into the conversation.
Boost Your Team and Cut Costs
There are two ways to look at the benefits of contingent workers for your business. The first is all about talent: Hiring contingent workers allows you to bring in people who have the right skills when you need them most.
Contingent workers are typically hired to focus on one specific project or set of responsibilities. They may not be looking for a long term commitment to your company, but in the short- and medium-term, this can prove to be advantageous. It means your team has the green light to look for the right person with the exact set of skills to fill whatever needs the business is facing at that moment, without worrying about long-term consequences.
And that points to the second way companies benefit from contingent workers: They’re significantly less expensive to hire compared to full-time employees.
When a business hires contingent workers, there’s no expectation to pay towards their Social Security, unemployment, or payroll taxes. Contingent workers also don’t receive pricey perks like healthcare benefits or paid time off. The end result is a dramatic discount for businesses, without sacrificing on talent.
Between staffing flexibility and cost savings, there’s a lot to like about hiring contingent workers. So how do you get started?
Technology Makes It All Possible
At Band Of Hands, our mission is to build the most efficient and effective platform for connecting businesses with talented contingent workers.
In just a few short steps on our website or mobile app, you can post a job, hear from applicants, and hire the right worker for your company’s needs. Payments are processed securely, and you can instantly rehire the same worker if you want to continue your partnership. It’s as easy as that.
We’ve made huge strides to provide unique kinds of support for both businesses and workers. For example, every worker for in-person jobs on Band Of Hands is covered through our Occupational Accident Insurance policy. We also offer additional resources to workers, like access to discounted healthcare benefits and tools to process their own background checks and Motor Vehicle Reports.
As we look toward a future that’s increasingly dominated by innovative business models and flexible hiring arrangements, we’re proud to lead the way with technology that both streamlines growth for companies and empowers contingent workers to maximize their potential.
Post a Job Now to see how easy it is to Hire on Band Of Hands!
Learn more from Band Of Hands Founder and CEO, Aziz Badra.