The gig economy is booming, with millions of workers choosing to freelance or work on a contract basis. This shift in the labor market means that businesses must adapt their approach to hiring and managing their workforce to remain competitive.
Although hiring contingent workers offer businesses flexibility and scalability, it also presents unique challenges, such as low retention rates and high turnover. To overcome these challenges, businesses need to invest in strategies that empower their contingent workers to stay competitive, motivated, and engaged.
In this blog, we will explore five effective strategies businesses can use to retain top talent among their contingent workers. By investing in their contingent workforce, businesses can build strong, flexible, competitive teams that will help them succeed in today’s unpredictable, fast-paced business environment.
Set Clear Expectations
Feeling disconnected from the company and uncertainty about roles are commonly cited reasons why contingent workers may leave a job. To avoid this, businesses can prioritize clear communication and expectations from the very beginning of the hiring process. This means providing a clear job description, outlining expectations for performance and deliverables, and establishing regular check-ins and feedback sessions. By setting expectations at the start of an engagement, businesses can help their contingent workers feel more connected and supported within the company.
During the hiring process, businesses can use technology to facilitate clear communication and establish many of those expectations. For example, they can use video conferencing to conduct initial interviews and ensure that the business is clear about – and candidates understand – roles and expectations. They can also use candidate relationship management platforms to provide regular updates and feedback throughout the duration of the job.
Invest in Training and Development
Showing your commitment to contingent workers by investing in training and development is a great way to keep them engaged. Studies show that Millennials and GenZers tend to prioritize career and professional development in their work environment. Professional development opportunities are highly valued by these generations, and the absence of such opportunities can be a factor in their decision to stay or leave a company.
Training and development can take many forms, including on-the-job training, mentorship programs, and online courses. By providing these opportunities, businesses can help workers develop new skills, improve existing ones, and stay up-to-date with the latest industry trends. This not only benefits workers but helps businesses stay competitive in a rapidly changing market.
Provide Access to Benefits and Perks
Offering benefits and perks to contingent workers requires a financial investment, but it can be a strategic move that benefits both the company and its workforce. Flexible work arrangements and wellness programs are cost-effective ways to support the well-being of contingent workers, which can help attract and retain top talent, ultimately benefiting the company’s bottom line.
Providing access to benefits can also help businesses build a positive reputation and increase brand loyalty. It’s important to note that businesses can offer a range of benefits that don’t necessarily involve paying contingent workers more. By investing in the well-being of their contingent workforce, businesses can demonstrate their commitment to supporting their employees and benefit both the worker and the organization.
By leveraging technology to streamline the hiring process, businesses can attract top talent and demonstrate their commitment to creating a positive work environment for contingent workers.
A seamless and efficient hiring process facilitated by technology can create a positive onboarding experience for contingent workers, encouraging them to stay longer and feel valued and supported. This, in turn, can lead to increased job satisfaction and engagement.
Moreover, technology can also improve communication and collaboration between the contract workers and their colleagues, fostering a more inclusive work environment. Even when they are not physically present in the workplace, technology can help them feel more connected and integrated into the team.
Foster a Positive Workplace Culture
Creating a positive workplace culture is essential for motivating and engaging contingent workers. When workers feel valued and supported, they are more likely to collaborate effectively and produce high-quality work. To foster a positive workplace culture, businesses should treat contingent workers as valued members of the team. This includes providing opportunities for social interaction, recognizing their contributions, and offering feedback on their performance. It’s also important to create an inclusive culture where all workers feel welcomed and supported, regardless of their background or employment status.
Your Contingent Workers are Exponential Sources of Growth
At Prosperix, we believe that the success of any business depends on people and technology. That’s why we have created a comprehensive program, Prosperix Xponential, for companies that use non-employee labor in any form. Our patent-pending VMS network, MSP expertise, hiring marketplace technology, and payrolling services work together to improve your business outcomes, supplier partnerships, and candidate experiences.
We understand that when candidates feel empowered and respected, they become better workers. Your candidates can benefit from our personalized approach and can upload resumes, schedule interviews, and interact directly with the suppliers they choose to represent them for specific jobs.
By leveraging Prosperix Xponential, you can provide your contingent workforce with the tools and resources they need to thrive, which ultimately benefits your business as a whole.
Give our solution a try and experience exponential growth and success.