{"id":22409,"date":"2023-04-24T12:25:34","date_gmt":"2023-04-24T06:55:34","guid":{"rendered":"https:\/\/ascent-hr.com\/?p=22409"},"modified":"2024-09-26T11:49:06","modified_gmt":"2024-09-26T06:19:06","slug":"unlocking-the-potential-of-the-contingency-workforce","status":"publish","type":"post","link":"https:\/\/ascent-hr.com\/en-ae\/resources\/in-the-press\/unlocking-the-potential-of-the-contingency-workforce\/","title":{"rendered":"Unlocking the Potential of the Contingency Workforce"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"22409\" class=\"elementor elementor-22409\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-420fd6af elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"420fd6af\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container 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elementor-section-height-default elementor-section-height-default\" data-id=\"9d53dbb\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9d545f6\" data-id=\"9d545f6\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d056047 elementor-widget elementor-widget-vc_custom_heading\" data-id=\"d056047\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"vc_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\" vc_custom_heading no_stripe consulting_heading_font  text_align_left\" ><h1 style=\"text-align: left;line-height: 50px;font-weight:700\" class=\"consulting-custom-title\">Unlocking the Potential of the Contingency Workforce<\/h1><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d54bbc elementor-widget elementor-widget-stm_post_details\" data-id=\"9d54bbc\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"press\" data-widget_type=\"stm_post_details.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"post_details_wr  consulting_elementor_post_details\">\n    \n<div class=\"stm_post_info\">\n\t<div class=\"stm_post_details clearfix\">\n\t\t<ul class=\"clearfix\">\n\t\t\t<li class=\"post_date\">\n\t\t\t\t<i class=\"fa fa fa-clock-o\"><\/i>\n\t\t\t\tApril 24, 2023\t\t\t<\/li>\n\t\t\t<li class=\"post_by\">Posted by:\t\t\t\t<span>AscentHR<\/span>\n\t\t\t<\/li>\n\t\t\t<li class=\"post_cat\">Categories:\t\t\t\t<span>Authored Article, In the Press<\/span>\n\t\t\t<\/li>\n\t\t<\/ul>\n\t\t<div class=\"comments_num\">\n\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-ae\/resources\/in-the-press\/unlocking-the-potential-of-the-contingency-workforce\/#respond\"><i class=\"fa fa-comment-o\"><\/i>No Comments <\/a>\n\t\t<\/div>\n\t<\/div>\n\t\t\t<div class=\"post_thumbnail\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"988\" height=\"550\" src=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/CXO_Today_in_the_press-988x550.webp\" class=\"attachment-consulting-image-1110x550-croped size-consulting-image-1110x550-croped wp-post-image\" alt=\"Thumbnail of logo of CXO today publication\" srcset=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/CXO_Today_in_the_press-988x550.webp 988w, https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/CXO_Today_in_the_press-350x195.webp 350w\" sizes=\"auto, (max-width: 988px) 100vw, 988px\" \/>\t\t<\/div>\n\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cb6113e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cb6113e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-a363c59\" data-id=\"a363c59\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a2925f8 elementor-widget elementor-widget-heading\" data-id=\"a2925f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Published in<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-de43b20 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"de43b20\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0b78a4a\" data-id=\"0b78a4a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f5f335 elementor-widget elementor-widget-image\" data-id=\"8f5f335\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.cxotoday.com\/specials\/unlocking-the-potential-of-the-contingency-workforce\/\" target=\"_blank\" title=\"link to cxo today website article\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"220\" height=\"60\" src=\"https:\/\/ascent-hr.com\/wp-content\/uploads\/2023\/10\/CXO_Today_logo.webp\" class=\"attachment-medium size-medium wp-image-22353\" alt=\"CXO Today.com Logo\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f64ea27\" data-id=\"f64ea27\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-04f8ca9 elementor-widget elementor-widget-text-editor\" data-id=\"04f8ca9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In today\u2019s rapidly evolving economy, businesses are finding it increasingly challenging to keep pace with the shifting landscape of talent acquisition and management. Companies are looking for ways to stay competitive while minimizing costs and maximizing efficiency, and one solution that is gaining traction is the use of contingency workforce.<\/p>\n<p>The contingency workforce is made up of employees who are hired on\u00a0 temporary or project basis. This type of workforce is often used to fill in labour shortages or to help complete specific tasks. They are typically hired to help with tasks that require specialised knowledge or skills that the company may not have in-house. Contingency workers may also be used to provide additional support during peak times, or to complete tasks that would normally take too long for the company to complete.<\/p>\n<p>Flexibility is perhaps the most significant advantage of using\u00a0 contingent workforce. The use of temporary or freelance workers allows companies to quickly and easily adjust their staffing levels to meet changing business needs. This agility enables businesses to remain nimble and respond quickly to market changes, such as increased demand or sudden shifts in consumer preferences.<\/p>\n<p>Cost saving is another significant benefit of using\u00a0 contingency workforce. By utilizing temporary workers, companies can avoid\u00a0 expenses associated with hiring full-time employees, such as payroll taxes, benefits, and overhead costs. Additionally, companies can save money by only paying for the skills they need when they need them, rather than investing in long-term employees who may not be fully utilized.<\/p>\n<p>Hiring permanent employees comes with the risk of turnover and termination costs. With a contingent workforce, the risk is significantly reduced. Companies can easily end a contract with a contingent worker when the project is complete, without having to worry about termination costs. This can also reduce the risk of wrongful termination lawsuits.<\/p>\n<p>Although the use of a contingency workforce can provide many benefits, it can also create some challenges. One of the most significant challenges of using contingency workforce is managing a remote workforce. Many of these workers may be located in different time zones or even different countries, making communication and collaboration more challenging. Businesses need to have the infrastructure and tools in place to ensure that all workers are able to communicate and collaborate effectively, regardless of their location. Another challenge is that contingent workers may not be familiar with the company\u2019s culture and policies, which can make it difficult to ensure that they are adhering to company standards. Additionally, the use of a contingent workforce can lead to a lack of loyalty, as these workers may not be as invested in the company as permanent employees.<\/p>\n<p>In order to effectively manage a contingent workforce, employers must have a clear understanding of their workforce needs. This includes identifying the specific tasks and skills that need to be completed, as well as the number of workers required to complete the tasks. Employers should also develop a plan for training and providing the necessary support to their contingent workers.<\/p>\n<p>The future of the contingent workforce looks bright as businesses continue to recognize the benefits of employing this type of workforce. Businesses are beginning to understand the need for temporary staffing and outsourcing to fill in labour shortages and complete specific tasks. Additionally, businesses are starting to recognize the importance of having effective workforce management systems in place to ensure that their contingent workers are able to complete their tasks efficiently and effectively.<\/p>\n<p>Unlocking the potential of a contingency workforce is critical for companies looking to remain competitive in today\u2019s rapidly changing business environment. The use of temporary workers can provide businesses with the flexibility, cost savings, and specialized skills needed to succeed in a dynamic economy. However, realizing the full potential of a contingency workforce requires a strategic and thoughtful approach to talent management and a willingness to embrace the gig economy. By taking the time to understand their workforce needs and develop effective workforce management systems, employers can ensure that their contingent workers are able to complete their tasks successfully and help the business reach its goals. \u00a0<\/p>\n<p><em> (This article is written by <strong>Murali Santhanam<\/strong>, Head \u2013 CPHRO, AscentHR Consulting, and the views expressed in this article are his own.)<\/em><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d56954 elementor-widget elementor-widget-stm_post_bottom\" data-id=\"9d56954\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_post_bottom.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"post_bottom_wr  consulting_elementor_post_bottom_info\">\n    <div class=\"post_bottom media\">\n\t\t<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d56a47 elementor-widget elementor-widget-stm_post_about_author\" data-id=\"9d56a47\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_post_about_author.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"about_author_wr  consulting_elementor_post_about_author\">\n    <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-top-column elementor-element elementor-element-9d56c19 elementor-hidden-tablet elementor-hidden-phone\" data-id=\"9d56c19\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d5724f elementor-widget elementor-widget-stm_sidebar\" data-id=\"9d5724f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_sidebar.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<div class=\"stm_sidebar consulting_elementor_sidebar\">\n\n            \t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17483\" class=\"elementor elementor-17483\" data-elementor-post-type=\"stm_vc_sidebar\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-86c5a23 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"86c5a23\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-86c64eb\" data-id=\"86c64eb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9c694df elementor-widget elementor-widget-heading\" data-id=\"9c694df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Other Press Articles<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6853d8a elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6853d8a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecc6a9d elementor-widget elementor-widget-stm_news\" data-id=\"ecc6a9d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"stm_news.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"consulting_posts_box consulting_elementor_posts\n\t\t\t\tlist\t\t\t\t\">\n\t\t\t\t\t<ul class=\"consulting_posts posts_per_row_\">\n\t\t\t\t\t\t<li class=\"post_item\">\n\t<div class=\"post_inner\">\n\t\t\t\t<div class=\"news_item_info\">\n\t\t\t<h5 class=\"news_item_title line_none\">\n\t\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-ae\/resources\/in-the-press\/the-growing-gap-between-education-employability-in-young-india\/\">The Growing Gap Between Education &#038; 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What hiring managers really look for<\/a>\n\t\t\t<\/h5>\n\t\t\t\t\t\t<div class=\"news_info_bottom\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/li>\n\n<li class=\"post_item\">\n\t<div class=\"post_inner\">\n\t\t\t\t<div class=\"news_item_info\">\n\t\t\t<h5 class=\"news_item_title line_none\">\n\t\t\t\t<a href=\"https:\/\/ascent-hr.com\/en-ae\/resources\/in-the-press\/all-in-good-time\/\">All in Good Time<\/a>\n\t\t\t<\/h5>\n\t\t\t\t\t\t<div class=\"news_info_bottom\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/li>\n\n\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-254f96c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"254f96c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-35b4dfe\" data-id=\"35b4dfe\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3e7bd05 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3e7bd05\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5222e8b\" data-id=\"5222e8b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a3b6559 elementor-widget elementor-widget-vc_custom_heading\" data-id=\"a3b6559\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"vc_custom_heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\" vc_custom_heading  consulting_heading_font  text_align_left title_no_stripe\" ><div style=\"font-size: 16px;color: #ffffff;text-align: left;font-weight:700\" class=\"consulting-custom-title\">How can we help you?\n<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa74b16 elementor-widget__width-auto elementor-widget elementor-widget-button\" data-id=\"aa74b16\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper icon_align_  \">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"\/contact\/\" title=\"Link to contact form\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-phone-square-alt\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">contact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-03dafc5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"03dafc5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t    \n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Back Unlocking the Potential of the Contingency Workforce April 24, 2023 Posted by: AscentHR Categories: Authored Article, In the Press No Comments Published in In today\u2019s rapidly evolving economy, businesses are finding it increasingly challenging to keep pace with the shifting landscape of talent acquisition and management. Companies are looking for ways to stay competitive<\/p>\n","protected":false},"author":2,"featured_media":22349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[280,158],"tags":[],"categories_case_studies":[],"class_list":["post-22409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-authored-article","category-in-the-press"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Unlocking the Potential of the Contingency Workforce - AscentHR<\/title>\n<meta name=\"description\" content=\"Unlock the potential of the contingency workforce with insights from Ascent HR. 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