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It's Getting Much Harder to Find Contingent Workers
Increasingly reliant on contract labor, companies are struggling to get contract workers as quickly as they are needed. Over the past 12 months, the average time required to find, vet, and start a contingent worker in the U.S. has increased by 41%. These lengthening timelines are having serious repercussions on businesses: operations cannot expand with demand, employees are being stretched without support, and key project deadlines are being missed. This edition of the Extended Workforce Intelligence Report looks at how and where these timelines are shifting the most [see How Was This Data Analysis Completed?]. In addition, the report examines how some companies are actively diagnosing and improving their speed to get contingent workers on the job. Interestingly, it is often not by increasing bill rates. Our analysis shows that in many situations there is no correlation between the bill rate paid and the speed to find a contingent worker.
- It now takes 41% longer to secure a contingent worker.
- The slowdown affects all job types, but is especially dire for IT roles.
- Counter to intuition, higher bill rates do not correspond to improved speed.