Making 'Cents' of Temps: The Costs and Benefits of Contingent Workers

Abstract

[Excerpt] Increased adoption of contingent labor strategies serves as proof that the benefits of hiring contingent workers outweigh the costs, at least from an employer’s perspective. Three such benefits are explored in the paragraphs that follow: the reduction of fixed costs, increased flexibility, and increased productivity. Since accompanying each of these benefits are actual and potential costs that pose a real threat to human resource professionals if not carefully managed, a brief discussion of costs is also included. In response to the increasing popularity of contingent workers among businesses, tips for effective tracking of costs conclude this analysis.