Issue link: https://read.uberflip.com/i/1472062
The effects of the Covid-19 pandemic and major technological forces are reshaping business models and the nature of work across Asia Pacific. The speed of these changes, alongside economic uncertainty as supply and demand fluctuates, has encouraged companies of all sizes to rethink their traditional workforce strategies and embrace fresh hiring approaches to stay competitive. A Contingent Workforce is already a critical part of workforce strategies in Asia Pacific with over 50% of all companies across the region surveyed saying they turn to it when experiencing a headcount shortage. The trend for companies adopting a Contingent Workforce as part of their future workforce strategy is accelerating. About 25% of companies across Asia Pacific who are already using a Contingent Workforce will increase their usage over the next two years. Almost half of all companies surveyed are currently utilising a Contingent Workforce for up to 10% of their workforce, and are also planning to continue to expand their Contingent Workforce to 15% and above in the next two years. 48% of the respondents engage recruitment agencies for their headcount needs and strategies, especially within the IT/Hi-Tech, Healthcare, Banking/Insurance, Government Agencies, Manufacturing, and Professional Services sectors. There is also a trend for roles with high attrition rates, such as blue-collar workers and call centre staff, to be outsourced to agencies that know the industry and talent Executive Summary Key findings: Definition of Contingent Workforce A Contingent Workforce means workers within an organisation who are EITHER or ALL of the following types: • Short/Fixed Term Contractual Employment • Freelancer/ Independent Contractors • Outsourcing to Agencies Survey findings from 1,112 respondents made up of employers and HR decision-makers in 12 markets across Asia Pacific. 2022 APAC WORKFORCE INSIGHTS | 3