Contingent Employee Growth Drives Workforce Solutions
As the Independent Contractor trend continues to grow and becomes a permanent configuration of an organization’s workforce, the need to effectively manage this non-employee segment becomes increasingly important.
Based on a study by Ardent Partners less than 50% of US companies contingent workforce is accounted for, while over 60% of US organizations consider non-employee resources as a key workforce component.
The Case for Contingent Workforce Solutions
Some of the key elements driving the need for contingent workforce solutions are visibility, risk management, tracking and payment.
US Labor laws have specific rules about what constitutes a full-time employee versus a contractor. To manage classification risk, companies can utilize a contingent workforce solution for needs including onboarding, 1099 compliance and the unique management requirements of continency workers as Independent Contractors.
Contingent workforce software solutions can also help automate project management, tracking of tasks, hourly billing, tax compliance and non-employee payments, so companies can efficiently manage all aspects of this workforce segment.
As the Independent Contractor workforce continues to grow CWS solutions will evolve, expand scope, and provide a vital resource for companies to manage this growing component of their workforce.
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