Labor costs make up the largest part of most companies’ operating expenses. Employers looking to cut costs, but keep talented workers, are hiring more contingent workers. And the contingent workforce is remaining steady. According to a 2019 report by the Bureau of Labor Statistics (BLS), contingent workers make up 3.8% of the working population. Contingency employment has its advantages, both for the employer and the employee, but there are some things to consider—like compliance issues. Understanding contingency workers and how they’ll fit in at your company is the first step.
Contingent Worker Definition
Contingent means to be dependent on or conditioned by something else. The definition of a contingent worker is the same; contingent workers are hired per project, so their employment is dependent on the project. Once the project is over, the employer-employee relationship