How to future-proof your company for the contingent workforce

The gig economy is here to stay. More than a third of the American labor force is composed of contingent workers, and that number is growing. Freelancers are expected to make up the majority of the workforce within the next 10 years, according to an Upwork and Freelancers Union study. That proportion will only grow; the same study found that nearly 50% of millennial workers are already a part of the gig economy. Workers have more ability to create their careers the way they want than ever before. Increasingly, workers are choosing values such as flexibility and autonomy over the stability of full-time, permanent jobs. And many businesses are meeting them halfway. Many of the companies that have found efficiency within the contingent-focused economy have shifted to an organizational structure that is less hierarchical and more horizontal. Business objectives are tied to specific strategies and projects that can be accomplished with small teams or groups of workers, making it easier to hire freelancers and for employees to work autonomously. Thanks to technology in the workplace, these shifts are easier than ever to navigate. As this trend toward gig-based workers only grows more ingrained in the modern workplace, HR professionals will be vital to helping companies embrace contingent workers. Here are some key ways to adapt as you mine the freelance field to find folks who can provide the best value for your company