Contract workers set to make up 25% of the global workforce

Over recent years, recruitment statistics have showed that the number of contract roles have increased at a rate that is three to four times higher than more traditional, full-time, permanent positions.

It has in fact been predicted that eventually contract workers will make up 25% of the global workforce as a combination of candidates not being able to find full-time employment and individuals preferring to take on a more contingent work style starts to come into effect.

Once thought of as nothing but a stop-gap until a more desirable and permanent position came along, employers and employees have since gone on to realise the benefits of offering and securing these types of roles. From a candidate’s perspective, these advantages are plentiful and include:

• A better work/life balance – the flexibility of contract work enables individuals to focus on other aspects of their life as well as their career.
• Becoming a more desirable employee – after securing various different roles, workers will have acquired a unique set of skills and experience that makes them flexible, knowledgeable and very attractive to potential employers.
• Continuous enjoyment – the nature of contract roles exposes candidates to a broad variety of challenges and demands that they are constantly learning new information and skills. As well as looking great on a CV, this keeps work interesting and therefore boosts motivation and morale.
• Setting up a business – the number of people setting up their own company, becoming a sole trader or a freelancer has drastically increased over recent years. Many of these entrepreneurs opt to take on several different contract roles during this time as it offers the security of a regular income but remains flexible so they can carry out other projects at the same time.

As well as being advantageous to the employee, hiring contract staff can be extremely beneficial to employers as well.

• Save money – organisations can save money by adjusting their staff levels depending on when they need more or less people based on the business’s requirements.
•  Agility – as modern technology continues to progress, the speed at which a      company may need to change their tactics has increased rapidly. Traditionally,      this can be very difficult. However, adopting a contingent talent strategy      enables businesses to access people with the skills they need quickly, more cost effectively and with minimal disruption to the whole organisation.
• Boost skills – contract staff can add to a company’s intellectual capacity, provide the instant expertise they need, bring in much needed knowledge and fresh ideas.

It appears as though people’s perceptions of contract staff are rapidly changing and these types of roles are now becoming highly desirable, but what do you think? Let us know your thoughts below.