Since the economic downturn of 2008, employers have been increasingly relying on temporary and contract workers, and this is expected to continue, which can be attributed to today's talent supply and demand, says Ravin Jesuthasan, global head of talent management for Towers Watson.
According to the Towers research, a dramatic labor shortage is expected to hit the United States and the rest of the developed world in the next 10 years. As talent becomes scarcer and wages are more competitive, employers should anticipate seeing highly skilled talent turn to temporary positions.
"Initially, people thought this was just a phenomenon of the recession and uncertainty at that particular point," Jesuthasan says. "With the labor shortage, talent is hard to find, and then what happens is as employees become hot commodities, we're going to see a return to the movement in the '90s with the free agent employee."
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