32%

of organisations are replacing full-time employees with contingent workers as a cost-saving measure

Gartner research

>80%

of executives across 27 countries are increasing their use of contingent workers

SAP / Oxford Economics’ Workforce 2020 insights

50%

of the workforce will be employed on a freelance basis by 2027

Forbes Magazine

The global technology market is evolving and growing. As a $5 trillion global industry, it has significant power in both providing opportunity to the workforce as well as rapidly disrupting the international work landscape. The economic impact of COVID-19 has seen many companies place their hiring plans on hold, and demand for contract workers instead is steadily increasing, with Talent experiencing a 38% increase in contractor growth over the past three years.

There are pros and cons to this growing employment trend. The rise of the contractor workforce will have big implications for businesses, individuals and the wider society. Research reveals that contract employees could suffer from feelings of isolation, and both want and need a greater sense of connection and inclusion. Also, freelancers and contractors seemingly miss out on receiving recognition of the important role they play and lack access to benefits and opportunities. Businesses are increasingly learning better ways to look after their contractor workforce and make them feel valued.

Global Contractor Market Overview

32%

>80%

50%

intro

pt.2 belonging

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world of work