What are the advantages of contingent employment?

Many companies use contingent employment, independent contractors, leased employees, consultants, and temporary employees. While using alternative workforce has benefits, it can create legal and practical risks as well. If you are using contingent workers, here are some benefits and risks to weigh.

Benefits of contingent workers -

There are many potential benefits for contingent employment professionals  . Although the specific benefits vary from:

Cost savings - Perhaps the most significant motivation for using such as independent contractors and temps is cost savings. You often have to pay employees for non-productive time, but you do not usually pay employees for downtime (eg, you cut back on periods of low production). In addition, you generally do not have employees, such as vacation time, holiday pay, sick leave, and health insurance.

Increased efficiency - You can increase efficiency by using workers to staff peak hours, days, or periods of demand for one-time projects. During periods of lower demand, you can stop using them.

Better job security - Contingent workers often serve as a buffer that allows stable employment for the core workforce. Because workers like independent workers and laborers can apply for labor and employment strategies, and have regular employees with an increased sense of job security.

 

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What are the advantages of contingent employment?

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Curated by:
kreddy50
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Created:
December 10, 2018
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