Posts

Finding Top Talent Through The Contingent Workforce

/ /by

When you hear the words contingent, contracted, temporary or seasonal, what do you think of? Traditionally, the contingent workforce has been associated with the bottom rungs of the corporate ladder. They’re the people who can’t find real jobs. Well, the contingent workforce is growing in numbers, and taking over every rung of that ladder from the bottom to the top.

The contingent workforce has a new face. They are now the sought-after candidates with experience and flexibility; instead of the plan B hires they were not so long ago. Let’s take a look at this new and rapidly expanding workforce segment…

Life Is Suite For Contractors

You might be as surprised as I was to find out what a Randstad study revealed. We’re no longer dealing with temp secretaries or paper pushers; the new contingent worker has his or her sights set much higher. Randstad’s research indicates that about 1/3 of temporary workers are currently holding supervisory or managerial positions. The research also revealed that 40% of companies reported finding their top talent through the contingent labor force.

Now that employers are starting to embrace flexibility and find smarter ways to hire and manage the contingent workforce, the sky is the limit for this segment. There is no longer a stigma attached to granting responsibility to contingent workers. Employers have traditionally been reluctant to hand over any measure of power to someone who may or may not be there in the future, but they are now finding that the contingent worker’s patchwork career of skills and experiences make them perfect candidates for even high-level, power-wielding positions.

Contingent workers are no longer the tactical, last-resort hires, but rather strategic additions to teams. That may be why 60% of enterprises plan to increase freelance hiring in 2014, as revealed by Tower Lane Consulting.

Employment Is For The Birds

The same survey revealed that 53 million Americans, or 34% of the population, qualify as freelancers. This swift rise in freelancers is the result of many factors:

“The rise of Uber, Lyft, Task Rabbit, Elance and other online labor marketplaces, combined with employers’ desire to lower payroll and insurance costs, has driven up the number of people cobbling together a living from freelancing.” – Susan Adams, Career Specialist

Beyond the environmental factors contributing to the rise of the contingent workforce, these workers have their own intrinsic motivators for changing the way we work. They love the balance, independence, diversity and flexibility of their career path. Here’s the breakdown from the Randstad Workforce 360 Study:

●      78% of contingent workers describe their experience as positive.

●      These workers also express higher career satisfaction in several areas compared to their full-time counterparts.

●      31% of contingent workers enjoy perks like flexibility of schedule.

●      28% of contingent workers cite better compensation as a contributing factor to their job satisfaction.

●      21% of contingent workers value their career ownership.

Since the recession, employers have struggled to find a way to attract great talent while maintaining a balance between agility and budget. The contingent workforce went from being the backup plan to the ideal solution to the problem every employer was and is facing.

Human capital will always present the largest cost to organizations, making the contingent workforce all the more attractive. Employers can find the talent they need, when they need it, for as long as they need it, with little to no training. The reality now is that temporary workers are no longer a temporary workforce strategy; ironically enough, the contingent workforce is here to stay.

The lean and agile workforce that every CEO needs and wants will largely be comprised of these contingent workers. Today the contingent workforce is growing by 8.3% yearly, and that growth rate is only expected to increase. The real issue now falls on those employers who don’t have the capacity to attract and manage this workforce segment. Without the right tools, talent management of the contingent workforce can be disjointed and ineffective; rendering the positive benefits of hiring contingent workers a draw in vital resources.

Are you ready for rise of the new contingent worker?

About the Author: Raj Sheth is the CEO and Co-Founder of Recruiterbox.com, web-based recruitment software that helps growing companies manage their incoming job applications.

photo credit: Rishad Daroo via photopin cc

What Do Interns Really Want? [Infographic]

/ /by

Developing an extraordinary internship program can be a long and winding journey. You’ll face plenty of bumps in the road, and perhaps lots of trial and error. And as we’ve seen in the news recently, you may even discover some controversy.

But overall, internships can be very beneficial for organizations — not just because enthusiastic young workers are contributing to your business goals. Internship programs can also open the door to a more diverse workforce, help add fresh perspectives to your brand, attract other young talent to your organization, and more.

Of course, employers aren’t the only ones who benefit. Although the state of the internship has shifted over time, its overarching goal remains the same — students and recent grads should gain something educational from their work experience. So, what do today’s interns really want to accomplish, and what else should employers know about them?

The following infographic, based on student employment data from InternMatch, offers insights to help employers map out a more effective internship program. Here are some highlights:

•  38% of interns want better pay
•  30% want opportunities to perform meaningful work
•  47% are interested in access to executives and mentorship
•  California, New York, and Florida are three of the top states for finding college talent

Do any of these statistics surprise you? Check out the full infographic below, and share your thoughts in the comments area.

What are your thoughts? Have you experienced these trends — as an intern or as an employer?

Image Credit: Stock.xchng

25 Jobs in One Career? Brace Yourselves

/ /by

Recently, I participated in an unsettling Twitter chat, focused on career planning.

Usually that’s not a controversial topic, but this particular discussion disturbed many participants. Why? Because we projected the number of jobs a typical Millennial will accumulate over the span of a career in our so-called “New Economy.”

Do The Math

Consider these estimates from reputable sources:

• By 2020, 40-50% of all income-producing work will be performed by short-term contractors, freelance workers and “SuperTemps”
• The length of a career already averages 48 years — by 2020 it will be 50+ years
• Today, the average time-in-service for a Millennial at any company is 2.6 years

Admittedly, I am not really good at math. But this data is pretty conclusive…

At 2.6 years per job, over 50+ years in the workforce, plus several temp assignments and contracts means that Gen Y can expect to hold 20-25 jobs over the course of a career.

Here’s the problem… or, rather, several problems:

No One Told Gen Y

Those statistics genuinely scared #InternPro participants — most of whom are Millennials. No one had done the math. Plus, between parents, educators and old-school career experts, there seems to be a halo effect surrounding an old paradigm: lifetime employment. Many Millennials seem to believe that once they graduate and get that first job, their job search is effectively over. They are unprepared for the fact that it’s really just the beginning of a continuous process.

Traditional Higher Education Hasn’t Noticed

Many higher education stalwarts — not exactly known for quickly adapting to changing economies and markets — still feature old-school theory taught by tenured professors who’ve never held a position outside academia. Instead of teaching the skills that will be in demand in the “Freelance Economy,” we’re still shoving 1970’s courses and curriculum down the throats of unsuspecting students. Higher education must change fundamentally. To remain relevant, academics must start emphasizing transferable, marketable career skills.

We Aren’t Entrepreneurial Enough

Successful SuperTemps, solopreneurs and freelancers rely on one skill above all else: entrepreneurism. Why? Because, going forward, our livelihood depends on our ability to sell our skills, our value proposition and our niche — continuously.

In fact, with the average duration of a job search at about 40 weeks, there will almost never be a time when we’re not selling… us.

Old School Recruiters Haven’t Adapted

It doesn’t help that recruiters still haven’t caught-on. Old-school recruiters, unwilling to accept new workforce trends, discount job seekers whose resumes show they move every two to three years. They still consider this “job-hopping” — and many will not interview candidates with this tendency. They are labeled “disloyal” and a “long-term risk”.

Here’s the reality: between economic conditions, Gen Y’s penchant for moving on when they become restless or feel undervalued, and the inevitable entrepreneurial spirit that is becoming pervasive among job seekers, recruiters who stick to this now antiquated “rule” will lose out on high-quality talent. In the meantime, their competitors will thrive.

Fasten Your Career Path Seatbelts

Without a doubt, our new economy is already here. Members of Gen Y who cling to old standards — through fear and/or influence by parents, higher education and recruiters — will clearly continue to struggle. They will continue to do as trained — and will continue looking for jobs that no longer exist.

However, young professionals who recognize the new workplace for what it is, and learn the career skills required to win…

• Strategic planning
• Goal setting
• Sales and digital marketing
• Effective follow-up
• Customer service
• Integrity-based self-promotion

…will not only embrace the new economy, they will surround themselves with success.

What’s your reaction to the “average” career path of the future? How would you suggest that Millennials prepare to manage their careers more successfully? Share your thoughts in the comments area.

(Editor’s Note: This post has been adapted from YouTern, with permission.)

Image Credit: Stock.xchng

5 Reasons To Hire Flexible Talent

/ /by

Having a hard time finding the right employee for the job? You may be looking at the wrong group of candidates. According to recent reports, hiring within the flexible job market has steadily increased over the past 12 months. In addition, employers plan to hire more flexible workers this year than any other year before.

So, why is it in your best interest to consider flexible workers?

This infographic, compiled by Hourly (an employment network that quickly matches people who are interested in flexible positions with the right opportunities), illustrates why the flexible talent pool is the group to watch. Some noteworthy takeaways:

  • 40% of employers plan to hire temp workers this year, and more than 80% plan to increase their flexible workforce;
  • 25 million Americans work part-time, 20 million telecommute, and 10 million are independent contractors;
  • 39% of temporary workers will transition into full-time jobs.

If you’re an employer, what role do flexible workers play in your talent strategy? Or, if you’re on the other side of the table, as part of the flexible workforce, tell us how flexible options have helped or hindered you.

Check out the full infographic below, and share your thoughts in the comments section!

What do you think? What are some other reasons to hire flexible workers?

(Image Credit: Nicole LaPointe-McKay)
(Note: Gumby is a trademark of Premavision Inc/Clokey Productions)