The contingent workforce has edged into popularity with freelancers, temporary or contract staff being hired more often to fill the immediate shortage of staff, according to a survey. This has lead flexible work hours to become a commonplace trend in the country
“In today’s challenging business environment, some leaders are already working towards ensuring that they have a nimble workforce. To adapt during times of uncertainty, they are becoming increasingly dependent on contingent workers,” Francis Padamadan, Country Director, KellyOCG said.
The talent management solutions provider has released the Workforce Agility Barometer Report which stated that assignments which are project-based are gaining popularity in developing countries. It also said that about 71 per cent of C-suite leaders across the world are hoping to increase their percentage of contingent workers in the next two years.
About 210 C-suite level executives from India, Singapore, Australia and Malaysia took part in the study. They were from varying backgrounds including life sciences, banking and financial services, manufacturing and healthcare and medical services.
According to 52 per cent of C-suite leaders in India, attracting talent in the country becomes difficult when there is a ‘lack of available talent’.
The report noted that Indian firms do plan to overcome this talent shortage by building short term contingency plans which will last for a period of one to three years.
“Many companies are now looking beyond filling immediate talent shortages and have started to recognise the contingent workforce as an integral part of a more holistic workforce structure,” said Padamadan.
According to about 68 per cent of top executives, contingency workforces allowed an ‘access to specialist skills and expertise that lie outside of the organisation’. The report states that businesses have expanded their use of contingency workforces over the past few years. This talent pool has, thereby, been leveraged more strategically.