Finding and holding on to the right people is a growing challenge for most organizations. The trend towards more flexible working arrangements is, at least in part, both a driver and a solution for this challenge.

Close to half (44%) of the active workforce in the United States is now comprised of ‘free agents’, compared with just 26% in 2008. This means they are not employed by one organization on a permanent basis, but instead engage in freelance, consulting, temporary or contract work, or have their own business.

The growth in free agents is partly due to the economic climate and the need to drive efficiency and productivity. But even without this, the data shows that there is a significant increase in the percentage of workers across all generations who are now classifying themselves as free agents.

Compared to traditional employees, free agents:

- Are better educated: more than one-third possess a Master’s degree or higher; and

- are more likely to possess a technical or professional skill set.

Being able to access this pool of highly qualified and experienced talent is becoming paramount when we consider that:

- Maintaining a competitive advantage is becoming more difficult. Sourcing just-in-time talent provides a cost-effective employment model

- The most talented and experienced workers can also be the most expensive. Adding them to a permanent payroll is costly, particularly as their skills may only be needed for specific projects or timeframes

- Workers across all generations are seeking greater flexibility. Retention strategies now need to include telecommuting and flexi-work arrangements to hold onto talented individuals

- Productivity gains and the injection of new ideas are what many organizations recognize they need more of.

Accessing this new pool of talented workers is now easier than ever—as long as you know how.

This post is an excerpt of The Need to Find a New Workforce, a whitepaper on the challenges of attracting and retaining the right talent