Four Facts About the Emerging Contingent Workforce

You’ve read about how many people in the US are working “part-time” – You’ve read about how Four Facts About the Emerging Contingent Workforce image world text 1 300x128Four Facts About the Emerging Contingent Workforcepeople are not being hired but are now being engaged as “contingent” workers. Now, ask yourself – what else do you need to know about the rise of contingent professionals in the workplace?

Four facts about the emergent contingent workplace/workforce!

ONE…

Like it or not, the shift to a contingent workforce is absolute and irrevocable for many at all levels of experience. Taken together, professionals and non-professionals,it is estimated that 1 in 3 people (42 million) now work as contingent workers. Other experts estimate that by 2020, up to 50% of the workforce will be contingent.

Lesson: The changes in the workplace are structural, not cyclical. Certain jobs are gone forever and others are on the chopping block of time. Your task is to stay ahead of future changes.

TWO…

60% of 567 members of the Economist Intelligence Unit reported that – by 2020 industry will “bear little resemblance” to today. Precisely because of global and technological change, organizations that do not need people full-time, will not hire them full-time.

The McKinsey Global Institute describes these changes in a slightly different way. This is what they say: “Technology makes it possible for companies to manage labor as a variable input.”

Lesson: Technological and global changes are in their infancy. Over the next years, months or minutes, expect more change to the contingency model – faster!

THREE…

The opportunity to contribute is driven by the alignment between current knowledge and market-driven demand. Opportunities are not limited by any particular career choice nor are they limited by degree.

However, if you are to do well in the contingent world, you need to remain on the cutting-edge just as organizations must. Lifetime learning, a once-upon-a-time buzz phrase, is now a reality for those who would enjoy the fruits of the tree of knowledge.

Lesson: To the learners go the rewards.

FOUR…

Lest you think your best plan for “job” security rests in the public sector, think again. While it is a fact that the public sector, in general, is the latecomer to full-fledged commitment to a flexible and variable workforce; underfunded pensions, massive city, county and state debt, and the cost of retiree benefits cannot be ignored.

By 2020 industry will “bear little resemblance” to today. Precisely because of global and technological change, organizations that do not need people full-time, will not hire them full-time.

As one result, in so far as the engagement of new public sector workers is concerned, they are making more provisions for the engagement of contingent professionals than at any time in the past.

Lesson The price of admission to the contingent world in any economic sector is your market-connected competency.

Art by: KingdomT

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