- LinkedIn has released a new report that provides deep insight into recruiting independent contractors. According to the McKinsey Global Institute, nearly 42% of U.S. executives have a plan to hire more contractors in 2017, and it's expected that half of the workforce will consist of contractors and freelancers by 2027.
- Right now, LinkedIn estimates between 20% and 30% of the workforce in Europe and America are contractors. Independent contractors look at the world and work differently than traditional full-time employees, therefore LinkedIn is sharing current stats and tips for attracting and bringing this sector of the talent market onboard.
- Among the most notable facts: One-quarter of all contractors have 16 or more years of work experience. They are highly flexible; 70% of contractors who switched jobs in 2016 moved to an entirely different industry. They are willing to move to another region, such as technology hubs like Seattle and Portland. And they want fair compensation; 64% said that they look for excellent compensation and benefits in a job offer.
The data that LinkedIn provided in their report is compelling because it supports claims that the evolving gig economy will be critically important for recruiting. More seasoned professionals are seeking independent contractor relationships because it allows for greater flexibility and work/life balance. It's also helpful for recruiters to understand what contractors are looking for in work opportunities and where to find the highest concentration of them.
Recruiters need to be mindful of the unique characteristics of the independent contracting community when developing job orders and displaying compensation in order to attract such candidates. This is a valuable section of the workforce that has often been overlooked.
For employers more broadly, any insight into this growing segment of the workforce gives them a better sense of what their current and future recruiting focus should be. Businesses that have not traditionally relied heavily on independent contractors could find the access to more experienced candidates a welcome way to balance incoming young talent.
Recruiting strategies must look beyond traditional workforce solutions and employee relationships to meet the needs of modern companies, and independent contractors offer one more tool that could be helpful. Understanding what motivates this growing segment of the workforce could provide critical insight for recruiters and the companies they work for.