Technology is reshaping the contingent workforce arena, eliminating the complexities and streamlining processes. Contingent workforce services turbocharged by innovations have become a source of an organization’s agility and competitive advantage.
According to a report by Allied Market Research, the global contingent workforce management market, valued at $171.5 trillion in 2021, is projected to reach $465.2 trillion by 2031, growing at a CAGR of 10.5 percent from 2022 to 2031.
What powers this stellar growth is a gamut of tech trends impacting contingent workforce services from the ground up.
Online platforms and marketplaces help organizations connect with a global pool of contingent workers, simplifying the process of hiring the right workers for specific tasks and projects.
Virtual and augmented reality technologies facilitate remote collaboration between companies and contingent workers, eliminating the need to work from the same physical location. Blockchain helps create tamper-proof records of work, making it easier to monitor and verify the completed jobs, while automated payroll systems ensure that contingent workers get their due payment on time. Machine learning algorithms help predict workforce needs and match the right job with the right worker based on expertise and experience.
This edition of Manage HR Canada delivers a bird’s-eye view of the recent developments in the contingent workforce arena and how organizations are adopting lucrative ways to boost revenue.
We have curated thought leadership articles from industry experts, including the Senior Vice President, People Services at Colliers, and the Director of Employee Experience (People and Culture) at Venterra Realty.
We also took a deep dive into the market trends to narrow down the list of companies delivering innovative contingent workforce services. Equipped with innovative technological capabilities, companies like WorkForce Capital and Employers Overload help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Manage HR Canada on contingent workforce helps you build the partnership you and your organization need to foster an environment driven by efficient technology.
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