As digitization, coupled with the global pandemic, propels contingent hiring online and with more individuals relying on employer reviewer sites to evaluate businesses, delivering a positive[...]
Due to the accelerating effects of COVID-19, Hiring Marketplaces are uniquely positioned to support new models of employment as businesses revise hiring strategies from local to global.
The post-pandemic talent landscape is becoming more distributed, with monumental shifts in attitudes towards remote work. Businesses are increasingly adopting remote working policies and many individuals who previously worked in-person are now experiencing the benefits of remote work --- enjoying the flexibility and integration between their personal and professional life. Real-estate is also witnessing the burgeoning effects of the remote work boom, as individuals migrate out of state to save taxes, or shift from expensive metropolitan areas to lower-priced suburbs for cheaper housing. Along with boosting the remote working trend, COVID-19 has reaffirmed the importance of the gig economy, allowing businesses to identify and utilize the global talent pool to their maximum benefit.
2020 catapulted the world into an environment of economic instability, leading to a surge of freelance workers. Between 2019-2020, nearly 2 million workers participated in the gig economy seeking better salaries, flexible work, and location independence and by 2027, it is projected that the gig economy will comprise nearly 87 million workers, making up 50.9% of the total U.S workforce. So, what exactly does the ‘gig economy’ mean? Staffing Industry Analysts define the gig economy as synonymous with all forms of contingent work typically supported by an online/digital platform.
As more and more individuals venture into the gig economy and the pandemic pushes for more remote-based work, what are the benefits for businesses looking to hire?
With contingent talent becoming more popular and remote talent growing more accessible, businesses are no longer confined to hiring from a particular geography. Tapping into both local and international talent pools is simple now --- thanks to the human cloud.
The human cloud, as it relates to contingent staffing, is a digital hiring arrangement that allows businesses to access candidates across geographies, cultures, skills, and languages by supporting the enactment and management of work (most of the time). A survey conducted by Staffing Industry Analysts found that the primary reason businesses invest in human cloud platforms is to gain greater access to talent having different skill-sets.
By utilizing the human cloud, businesses can amp up their hiring efforts to support their seasonal needs, projects, temporary assignments, part-time work, sudden ramp-ups, or supplement their existing workforce with contingent talent from the rest of the country/world.
Contingent labor enables businesses to expand or contract the workforce according to current needs. The use of a contingent workforce minimizes businesses’ recruitment overhead since the online recruitment platforms that supply contingent workers absorb the associated recruitment costs. Overall, this makes utilizing contingent labor a cost-effective recruiting strategy.
To reap the maximum benefit, businesses can back their contingent labor with a remote working policy where possible, keeping in mind that pay rates can vary between states and locales. Because of this, the evaluation of core positions to segregate the roles perfectly catered towards being remote is key.
Remote working models vary according to a business’ degree of remote flexibility.
These varying categories of remote work can extend opportunities for both businesses and potential employees. For example, the remote local category opens up your job to individuals with children and other responsibilities, while the remote domestic/global categories allow you to access a wider breadth and depth of talent.
Conventional Managed Service Provider/Vendor Management System (MSP/VMS) programs often lack the ability to specify and fulfill remote talent needs. The majority of staffing agencies lack experience in hiring remote/offshore talent, with their primary focus being --- hiring onsite (limited to a particular geography).
To overcome this, traditionally businesses choose to partner with a large supplier group, having the ability to source both national and international talent. But is this hiring approach sustainable?
Relying on a single (large) supplier or a small group of suppliers not only constricts your talent pools but also exposes your business to numerous risks stemming from the dynamic nature of staffing organizations. Bear in mind that the staffing industry is extremely volatile and a supplier’s recruiting capabilities can change in an instant with top recruiters constantly being courted by corporate giants like Amazon, Microsoft, Walmart, and Google. Losing a top recruiter means you relinquish access over their talent pools and no longer benefit from their expertise, leaving you in a constant pursuit for capable suppliers and a never-ending onboarding/offboarding cycle.
By switching to a hiring marketplace, you overcome the limitations of traditional staffing. Forget onboarding separate suppliers to govern different geographies or combing through disparate talent pools to select your preferred candidates. Instead, you reap the benefits of an ever-growing network of talent suppliers, enabling you to access quality talent faster at the best market rates. Ultimately, the hiring marketplace is a holistic hiring solution, which takes the onus off you with selecting and managing your staffing suppliers.
With Crowdstaffing’s hiring marketplace, you can access both local and offshore talent, spanning across multiple geographies and covering various skill-sets in a unified hiring ecosystem.
Our hiring marketplace comprises a diverse range of talent suppliers --- large staffing firms, independent recruiters, boutique or niche suppliers, national and international suppliers, that can effectively support your local and remote hiring efforts.
All the suppliers in our marketplace are constantly monitored by real-time performance algorithms, assuring you that only the best talent fulfill your job requisitions. We also ensure 100% compliance by serving as the employer of record (EOR) for your contingent talent.
In short, we unify and automate end-to-end management of your talent suppliers and talent pools.
Whether you desire to hire local or remote talent, consider reshaping your hiring strategy using Crowdstaffing’s hiring marketplace.
Schedule a demo with us today!
