The New World of Work
Contract, Gig, Consulting, Contingent, these are all forms of employment that are on the rise.
A growing slice of the labor force
- Temp and Contract hiring has grown by 57% since 2009
- Growth in contract employment is outpacing overall employment
- Today - 36 million contractors; 2020 - 50 to 75 million
- 30% of workers work in a contingent manner either full-time or to supplement income
- 67% of companies use contingent labor
Why this form of employment is growing
- Increase pace of technology
- Competent skill set
- Cannot afford to pay benefits
- Flexible workforce
- Quicker hiring process
- “Buy or bye-bye”