Most companies (67 percent) rely on contingent workers, according to a new study released by Randstad.
Of the respondents using contingent workers, 71 percent say they do so because the flexibility of these workers keeps organizations nimble during economic ups and downs. Another 21 percent of respondents say they expect to add more temporary or contract workers in the next year while 39 percent of respondents anticipate hiring more full-time workers. To find the right combination of full-time and contingent workers, 76 percent of respondents report that they would find access to specific information and resources.
"The recession produced such significant operational and financial duress for U.S. companies that the business model of the future will rely heavily upon the ability to be insulated from economic downturns," says Jim Link, managing director of human resources for Randstad US.
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"We live in a world now that rewards financial flexibility rather than fixed-cost business models, and agility, cost containment reign supreme," he says. "What used to be viewed as a temporary stop-gap measure, the utilization of a contingent work force alongside full-time talent is no longer a contingency plan. We believe this integrated staffing model will be fundamental to operational and fiscal success for the foreseeable future."
Seventy-eight percent of respondents who are temporary and contract workers say their experience in this type of work has been positive, and 63 percent of those consider their growth potential as good or excellent.
While 86 percent of respondents who are temporary and contract workers say their job satisfaction is good to excellent, 73 percent of respondents who are permanent workers say the same. When it comes to compensation, 54 percent of respondents who are temporary and contract workers strongly agree that they are paid what they are worth as opposed to 42 percent of respondents who are permanent workers.
Among the top reasons respondents choose temporary or contract work are schedule flexibility at 31 percent, better money at 28 percent and leading their own careers at 21 percent. Forty percent of employer respondents say top talent is often made up of those who started as temporary workers, and 32 percent of respondents who are temporary or contract workers report holding managerial or supervisory positions.
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