Contingent Workforce - HRTechCube

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What is a Contingent Workforce?

A contingent workforce is a labor pool whose members are hired by an organization on an on-demand basis. A contingent workforce consists of freelancers, independent contractors and consultants who are not on the company’s payroll because they are not employees of the organization. Organizations can hire a contingent worker directly or from a staffing agency.

What is contingent workforce management (CWM)?

When it comes to talent acquisition and management, there’s no doubt that the word ‘contingent’ has become a synonymous workforce term. Never before have we experienced the level of flexibility in work that we’re facing now. The gig economy and the use of contingent workers have grown exponentially in recent years — a trend which has certainly been accelerated by the global pandemic. In line with this evolution, the need for an efficient contingent workforce management (CWM) program has become more critical than ever before for all organisations.

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