Exploration and Company Reliance. Explore contingent workers and flexible work arrangements. Discuss reasons companies rely on...

Exploration and Company Reliance. Explore contingent workers and flexible work arrangements. Discuss reasons companies rely on contingent workers and flexible work arrangements.

Expert Solution

contingent workers and flexible workers are those people who work for a firm on contract basis or on time basis. they are not considered as employees to the firm, when ever there is work (additional or specific) the firms appoint these people to perform the work, once the work or the time tenure is over they are free. It is like a consultancy process. the reasons for chosing flexible workers or contingent workers by firms are:

to minimize the fixed cost to the firm
the work is not regular and specific in nature
contingent & flexible workers are more productive than normal employees
flexibility encourages diversity in the firm

there are many benefits to the firm, but the above mentioned are the major.

By the Year 2025, 75 % of the Total Workforce will be Millennials, yet, large percentage of Millennials prefer Non-Profits, Small Business or Entrepreneurship. (www.oracle.com). An Intuit Global Study predicts that by 2020, the 40% of the Gig Economy will be the Contingent Workers. The Golden Age of Human Capital Management shifts from Employee Engagement to Employee Experience enroute Employee Turnover.

keosha answered 3 years ago

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