by: Michelle Fish | CEO
With fourth quarter upon us, many people are scrambling to accomplish goals and projects that may have fallen through the cracks this year. One effective way to tackle these projects is by engaging contract employees. Most people do not realize this, but contract or ‘temporary’ labor (as it is commonly referred to) is a 90 billion dollar a year industry in the United States alone!
So what are all these contractors doing and who is using them? Over 95% of the Fortune 2000 and mid-market level companies use contract labor to even out the workload throughout the year in some capacity. These well established companies have learned how to leverage contract employees to control their payroll costs and ensure their core business functions are running smoothly.
I think one of the most powerful tools a business owner or manager has is the ability to engage a sharp individual on a contract or ‘temporary’ basis. Savvy companies are using contractors to also help them develop new capabilities or handle more complex projects that existing staff would typically struggle with. Rather than hire a resource on a full time basis, they will use a contractor with very specific skill sets to complete projects at a lower cost, within a reasonably short period of time, and without the burden of additional payroll expenses and benefit administration.
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