What are the Significant Growth Opportunities in the Alternative Workforce Space?

Scaled-up on-demand staffing platforms to drive labor transformation

Overview

The labor landscape is constantly evolving, giving rise to newer forms of employment such as the retired workforce, platform workers, crowd workers, and temporary workers. The changing scenarios have shifted companies’ focus from hiring and training to borrowing talent as it offers optimal flexibility and reduced fixed costs.

Adopting the latest technologies improves alternative workers' authenticity and communication, lowers the overall hiring costs, and provides a competitive edge to the company to effectively manage and retain the workers.

New technologies play a crucial role in enabling the future alternative workforce culture, and companies are changing their value chain to offer better communication between existing and alternative workers. The significant risk to companies while working with an alternative workforce is the lack of visibility and control of their extended workforce and related expenses.

While exploring the transition of the labor space over the years and the evolution of the alternative workforce the following questions come to mind: 

  • What are the major opportunity levers for leveraging the alternative workforce? 
  • What are the key technologies supporting the alternative workforce and their economic growth?
  • What are the new work models arising from the growth of the alternative workforce in the labor space?
  • How is the labor landscape transforming to accommodate alternative workers’ rights?
  • Which critical success factors and growth opportunities should companies consider before strategizing long-term business plans?

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