The fringe benefits of an on-demand workforce
As others say, diversity is the spice of life. And this is something employers are experiencing as they deal with an increasingly multigenerational workforce. With different age groups, cultures, and working styles, the perception of business success, where it happens, and who drives it forward is changing.
Traditional nine-to-fivers are opting to freelance, earn extra income, gain experience, and pick up new skills along the way. The question now, is what do employers get from hiring such a flex workforce?
1. Many, as it turns out
From trimming costs without skimping on work quality to bringing multiple perspectives to the workplace, more businesses are expanding their pool of resources with a normal distribution of full-timers, part-timers, freelance consultants, and contractors. In the endeavor to make the best possible use of time, tasks are allocated such that people communicate and work better with each other.
2. Here are some fringe benefits to employing an on-demand workforce:
a) Unbeatable efficiency
Performance has everything to do with how you tap into potential from within. The next step after hiring the best minds is to visualize your talent pool. Only then can you sort schedules, assess the bandwidth available, and prioritize projects. With resource management software, you’ll find it easier to ascertain the availability of critical competencies against the type of resourcing contract.
What’s more, you can bring each staff member’s full-time equivalent onto a single scale to make sure you’re not over or underutilizing any particular effort.
Today’s contingent workforce is skilled at picking up information. With shorter deadlines and even shorter attention spans, you need workers who can function in a connected world and know their way around distributed platforms and advanced technology. This inborn ability to learn faster and assimilate facts comes in handy when multiple processes are inflight.
It increases efficiency by letting you release a resource onto cross-departmental work. In other words, you needn’t wait for a project to finish to assign another task to the same support. Instead, you can optimize time with a tool that lets you manage human and technical resources, thereby speeding up the execution of strategic capabilities.
b) Bridges skill gaps
Hiring and restructuring the business depends on several factors; profits from individual business units, current attrition, rate of turnover, future needs, and budget. That being said, the insufficient lead time between filling vacancies with new hires and them mastering tasks can cost you in higher ways than you think. You’re forced to miss opportunities or take up ones that barely let you break even.
The ever-growing gap between new types of demand and the skills needed for it can be bridged with flex workers. It’s worth recognizing that the bulk of the unexpected economy is millennials and generation Z workers, who are born ready for change.
Considering the diversity of experience picked up from previous work, this workforce can multitask and give workers a new facelift. While all of them may not have the exact experience level and the industry knowledge you’re looking for, they more than makeup for it with their energy and creativity to do things a little differently. You benefit from self-starters who bring a fresh perspective to problem-solving while taking the initiative to present new ideas.
c) Uplifts productivity
Many businesses follow a standardized process for policymaking, governance, and leadership. But overlaps in work completed, in-progress and yet-to-start activities can impact productivity. Worse, being unable to track assignments and who is manning what can cause you to misjudge efforts. In other words, you won’t know for sure if everyone is doing full justice to their role.
What compounds this problem is that gig workers would not be on-site at all times. Hours are flexible, and so are where they opt to work. Much as this is advantageous to those who like the freedom to fix timelines and deliverables, as an employer, you still need to confirm that everyone is indeed productive on the clock.
The internet must make it achievable for us to communicate in real-time while saving up on office space rentals. Use this to your advantage by involving flex workers in-office meetings. They can then match their schedule to that of their full-time counterparts and ensure nothing is amiss. What’s more, you can keep track of their responsiveness and efficiency sans micromanaging work.
d) Positive business representation
Intuit’s CEO was quoted saying that the gig economy is expected to rise to 43% by 2020. Businesses that onboard an on-demand workforce is sending a clear message to prospective applicants dipping their toe into the talent pool; i.e., growth opportunities will be ever-present. Hiring and retaining talent irrespective of their contract type lets you assemble teams that can run your business as one cohesive unit.
When angling for increased profits, you would look to get tasks done without adding more to your overhead. Gig workers make it possible for you to offer uninterrupted quality services, that too, at a price you can afford. Even better, freelancers can recommend your business to others in their network, which is a bonus. A set word moves a great way of attracting top talent.
When your business is represented more widely, it cements your reputation in the market. For one, happy employees are in the position to use their interpersonal skills, creative thinking, and adaptability to assist better.
Secondly, they have exposure to different audiences, enabling them to come up with ways to convert casual browsers to buyers. After all, people rate their experience doing business with you based on product or service value and customer support!
e) Creates new opportunities
An on-demand economy is a right choice to staff a work influx. Rather than overload your full-time staff who are already busy with internal, administrative, and high-priority work, a more sensible move is to mobilize short-term projects with temporary workers. Look at it as a tap that releases talent during a time crunch.
One advantage an on-demand worker has over an employee working full-time for several years is that they would have picked up diverse skills from previous projects.
In other words, they have seen and done more, making them better equipped to spot and fix difficulties that would become unless gone ignored. They can even inform you of available opportunities you can file into your pipeline to be explored at a later date, enabling you to bid for them ahead of the competition.
The recruitment landscape is being reinvented, with hiring managers expanding their sourcing options. The idea of getting anything instantly has its appeal, which is why you shouldn’t let any skill gap cost you, customers.
Employing a gig workforce not only ensures that the business runs as usual but also gives you generate revenue and comply with quality standards. Given the plethora of trustworthy platforms online that lets you preview portfolios, shifting to a hybrid workforce are only a question of changing your attitude towards flex work!
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