What is an On-Demand Work Platform?
Valuing the flexibility it offers, many workers today are very attracted to the gig economy. Employers must think about how they can structure projects to appeal to these individuals. Here lies the need for an on-demand workforce: a flexible strategy allows businesses to scale based on need, and it provides workers with the project-based flexibility they desire.
Managing a typical workforce is complicated enough, but an on-demand workforce generates addition concerns. Fortunately, on-demand work platforms enable employers to easily realign their workforce strategies to reduce inefficiencies, save on overhead expenses, and create more productive teams.
When managed properly, an on-demand workforce can become an integral part of an optimal staffing strategy. A work platform that has been created specifically for an on-demand workforce has everything you need in one place including flexible scheduling, budgeting, time and attendance tools, and payroll and compliance.
A Flexible Workforce Requires Technology
It’s no surprise that many people shy away from hiring nontraditional workers. They do not know how to manage these workers effectively, especially in addition to existing, traditional employees. Fortunately, nearly all management-related concerns can be controlled and optimized through the right on-demand work platform.
At a time when many managers face major skill gaps and struggle to hire qualified workers, companies can utilize nontraditional talent to meet their needs. They can save money and boost productivity by scaling their workforces in accordance with new insights provided by streamlined talent management systems. Smart managers must learn how to adjust their people to their business, versus the other way around.
Overseeing Worker Performance
A centralized work platform can help managers communicate with and keep track of flexible workers. Furthermore, today’s tech often allows managers to automate tedious tasks like scheduling and payroll. This frees managers up to focus on more important strategic work.
Metrics are also key, and many talent management tech solutions allow managers to track each flexible worker’s productivity. This gives managers insight into which workers excel in which areas – critical information when it comes to maintaining beneficial relationships with flexible workers. Similarly, budget reports can help managers make smart decisions about where to hire flexible workers versus full-time staff.
Worker Compensation and Compliance
With payment management tools, neither employers nor workers need to worry about the compensation-related risks often associated with freelance work.
Payment software solutions allow timesheets and reimbursement requests to be submitted virtually and appropriate payment to be sent automatically. If the payment solution is integrated with a talent management solution, managers can run ROI analyses to determine whether a worker’s productivity is worth their pay. The results of such analyses can be invaluable in making decisions regarding the company’s future relationship with a worker.
Compliance with labor laws can become rather complicated, with companies having to juggle local, state, and federal policies to determine a worker’s status. Many talent management solutions available today can handle this by determining employment status and classifying compensation accordingly. As needed or desired, these solutions can also manage other compensation, like benefits and healthcare.