Millions of people have taken a non-traditional approach to employment, opting to work for a variety of companies on a temporary basis, instead of being employed by one firm full-time. These professionals enjoy the flexibility of making their own schedules and having the ability to gain a wide-variety of skills.
Software firm Mavenlink created an infographic highlighting a variety of important statistics on the contingent workforce ─ a group composed of direct-hire temps, independent contractors, on-call workers, self-employed workers, and more. Results of the study include:
- From 1995 to 2012 the contingent workforce grew by 4.3 million people. This number is expected to rise by 40 percent through 2020, to 64.9 million workers.
- Despite the recession, this workforce has been rapidly expanding, as 27 percent of companies surveyed in the 2010 Freelancers Union Annual Worker Survey had hired workers.
- Positions held by this group include ─ in order from most to least common ─ writers, other professions, copywriters, designers, translators, web developers, editors, business, marketing, software developers, and assistants.
- An overwhelming 90.2 percent work from a home office, 4.9 percent from a private office, 3.1 from a shared space, and 1.8 from a coffee shop.
- As of January 2012, the unemployment rate for self-employed professionals was 5.8 percent, which is much lower than the national average of 8.8 percent.
- Ninety percent of companies have used freelance or contracted workers.
- Sixty-one percent of senior executives expect a growing number of functions to be outsourced to this workforce in the coming years.
As the contingent workforce continues to grow in the future, staffing firms will be faced with a much higher volume of work. It’s important to streamline back office processes and procedures to maximize time spent with clients.
At ECS, we have over twenty years’ experience in the contingent staffing industry. We help companies optimize and simplify the process of providing and utilizing contract workforce personnel in an efficient, compliant environment. We provide seamless support services, so our clients can keep their focus on growing their staffing agencies.
ECS provides our support services to recruiters nationwide, so if you’re looking for a reliable team to handle your payroll and back office needs, contact us today, to get started.