The state of the workforce has never been more dynamic. More individuals are seeking to forgo the traditional work model – sitting at an office desk from 9 to 5 – instead taking more control of when, where and how much they work. This has resulted in a significant and growing number of independent contractors essentially working for themselves. And, as this model continues to gain momentum, employers today are met with the challenge of adapting their talent acquisition strategies accordingly.
In a clear sign that this “gig economy” is the new normal, a recent study revealed that one in three workers, or 53 million Americans, are now working as freelancers. The gig model can meet needs on both the employee and employer side, enabling companies to drive cost savings and efficiencies through temporary labor, and empowering workers to maintain an optimal work/life balance. Still, this ongoing shift is not without its challenges; as the status quo continues to be disrupted, employers must rethink their existing talent acquisition strategies to account for this new reality and ensure they connect with the freelance talent who can drive their business forward.
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:
- 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.
- 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.
- 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.
- 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.
- 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.
As the face of the workforce continues to change, organizations must be able to adjust their talent strategies accordingly. In today’s gig economy, this means ensuring the company can identify needs across the enterprise and access the talent, whether full-time or contingent, best suited to fill those gaps. Assessing current talent processes and determining what can be done in-house or with the help of an external partner will help ensure the right strategy to compete for talent in today’s dynamic landscape.
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