Have you heard of the term “liquid workforce”?
It is from an Accenture report describing the growing trend of freelance workers in the marketplace. The workforce is liquid, fluid, and adaptable so you can bring in the right people at the just the right time to get the work done.
I am bringing this up now because most employers are doing their planning for 2025 and are deciding on their goals and initiatives.
The next step for employers is to make sure that these initiatives and day to day work are resourced with the right talent, money, and time. In many cases, this means finding freelancers, contractors, and/or consultants to supplement the employees you have on your team.
Why use an on-demand liquid workforce?
1. Specialized skill set – A skilled contractor/consultant can often start a project and get the deliverables completed fast. Much faster than it would take for you to train your own employees. Plus, with low unemployment rates, it is often easier to find a consultant for a project than it is to fill a full-time employee role.
2. Quality and agility – Contractors/consultants are focused on delivering high quality work and having repeat customers to stay in business. They want referrals to so are focused on delivering quality fast. Also, consultants embrace innovation and agility. They are typically flexible in their approach and can make the best of uncertainty and complexity. They know how to communicate new ideas and implement them in different workplaces.
3. Lower cost – Once a project is completed, the contractor or consultant can be released without severance pay. No additional health benefits are paid either. Of course, there is typically no office space provided to contractors. Yes, contractors are paid more per hour than employees, but they are typically used for projects, so you aren’t paying them for a full year of work. It is much easier to ramp up or pull back on your spending with contractors than it is with employees.
I’ve been developing budget estimates for compensation projects lately to help employers ask for the money they need and ensure that they are fully resourcing the work planned for next year. If you need this type of support, let me know.
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Source: Forbes