This whitepaper highlights how organizations are increasingly relying on contingent workers—contractors, freelancers, gig workers—to meet evolving business needs. With 30-40% of the global workforce now contingent and projected to rise to 50%, managing this segment strategically is crucial. Contingent labor helps fill skill gaps, support flexibility, and scale operations efficiently. However, most organizations still lack centralized oversight, with only 31% involving HR directly. The paper urges HR and Procurement to collaborate and invest in Vendor Management Systems (VMS) integrated with HCM tools to gain total workforce visibility, ensure compliance, and optimize workforce planning.

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