The digital era has ushered in the skills economy
Australia’s rapid move towards a contract workforce signals one of the most significant social and industrial shifts in over a hundred years.
The modern workforce is about skills certainty, no long-term job security. It demands agility and flexibility, not jobs for life. Finding and hiring skilled professionals is now done through digital platforms, not manual processes.
Today, profitable growth hinges on having instant access to the right talent, at the right time to specialist built teams for high-value initiatives and projects.
Every company is essentially now a technology company and it’s creating a skills shortage. Five of the ten most chronically unfilled jobs in Australia are technology related. These roles are the very jobs that should be driving revenue and innovation for Australian companies meaning that, as a country, we are struggling to remain competitive.
The rise of the skilled contractor
The best professionals are becoming guns for hire, and the competition for talent is fierce. No longer a temporary plan, people are designing their lives more consciously, with many drawn to the freedom, autonomy and lifestyle of operating independently.
We are now in the era of the on-demand skills economy, where teams are built for short-term, high-value initiatives.
The rise of the temporary contract worker signals the demise of the current Monday to Friday, 9-5 recruitment regime. Traditional processes are ill-equipped to deal with this rate and pace of change, and adapting existing models will take too long to win the race for contract talent.
Traditional models are struggling
Australian businesses are fast running out of time to adapt to this new world of work.
A report by management advisory company CEB found that the average time it took to fill a position increased more than 50 per cent to 68 days in the last five years. The average vacancy cost to a business is upwards of $500 a day, which means more than $34,000 in lost productivity and revenue for every open position.
New times call for new approaches
Skilled professionals are not looking for work in traditional working hours – all the good ones are busy working. Most time spent actively looking for roles is late at night, early in the morning, and on weekends. Similarly, hiring managers often find themselves with a need for skilled workers at the end of their working day or working week. They need access to available candidates whenever they can fit this into their busy days. This is often outside of traditional working hours, so there is no room for 9 to 5 Monday to Friday in today’s recruitment processes.
Nvoi is Australia’s only open market, workforce-as-a-service platform that directly connects employers and skilled professionals, eliminating the friction points in contract workforce management.
Our platform ensures low predictable costs, is performance based, easy to use, available 24/7 and provides freedom from administration.
Unlike the traditional contract workforce management systems, Nvoi is the employer of record, providing instant engagement between hiring managers and rated skilled professionals, and automated back office processing at an affordable price.
The Nvoi platform focuses on skilled professionals and roles in the areas of IT, Design & Creative, Marketing & Communications, Finance & Accounting and People Ops.
Whether it’s a consulting contract for a day, a design project for a week, or a development team for 6 months, Nvoi connects businesses with the skills they need at a price point far lower than traditional recruitment costs.
This article was sponsored by Nvoi
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