Key strategies to retain critical contingent worker skills

Here are three key contingent worker retention strategies to consider implementing.

1. Ensure engagement with the contingent worker throughout an assignment

Contingent worker retention may be lost significantly impacted over the course of a worker's assignment. To deliver a positive contingent worker experience requires attention to processes and worker data. 

A work environment which values and is inclusive of contingent workers is essential. That includes:

• Appreciating the worker's skills and experience and ensuring that they're being paid at market rates across a long-term assignment.
• Clarifying a worker's motivations (for example, securing full-time employment, development, enhancing a resume, or learning a new skill). 

In terms of process, this means:

• Offering an onboarding process that introduces the worker into a welcoming, contingent-friendly culture.

Particularly in the first 30 days of an assignment, conducting ongoing communications and temperature checking, including sentiment monitoring, to respond proactively to correct alignment issues and prevent early worker turnover at key project milestones.

2. Provide incentives tailored to contingent workers

Tailored incentives for contingent workers can be introduced to positively impact contingent worker retention.

Examples include:

• Perks typically offered to employees, such as subsidized dining, gym memberships, etc.

• Tailored services such as health or business liability insurance.

• Pay-for-Performance – a popular choice for projects with tight timelines, P-4-P can negate project lag typically associated with workers leaving a project at key milestones.

3. Offer redeployment to new roles

Organisations have typically not enabled the redeployment of contingent workers into new contingent or permanent worker roles. But contingent worker redeployment can:

• Have a positive impact on contingent worker experience and subsequently retention.

• Deliver avoidance of sourcing costs, shorter fill times and potential cost savings.

• Collaborate with peer group on Joint Ventures, promote their skills where needed

Recent data suggests that on average 4% of contingent workers at the tail end of their assignment will match a similar job opening. This pool of workers can include valuable, pre-vetted talent who understand your culture, not to mention the usually overlooked cost of empty chair time!

Using automation tools to monitor assignment end dates and other internal data (such as worker skills, pay/bill rates, locations and manager reviews), specific workers can be highlighted for other suitable contract or permanent roles in the organization either at the time or in the future. 

Making it happen

Implementing a contingent worker retention strategy provides organisations an opportunity to achieve cost and performance benefits, including:

• Faster sourcing of quality contingent workers through an optimised contingent candidate experience.

• (Re)deployment of “known resources” within the organisation that know the company’s culture, systems, etc.

• Increased job satisfaction, productivity and loyalty

To integrate this change will require developing new processes enabled by:

• Automation capabilities beyond traditional VMS (direct sourcing, worker relationship management, etc.)

• Integrated data analytics and AI-based intelligence tools.

TRS Workforce Solutions has invested in all these capabilities, we make implementation of these strategies fast and more cost-effective than self-delivery. 

Get in touch to hear more about our latest advancements in quick-to-deploy MSP services. Alternatively, find out more about how contingent staffing solutions can help businesses.