{"id":3193,"date":"2023-02-27T09:14:48","date_gmt":"2023-02-27T14:14:48","guid":{"rendered":"https:\/\/futureofworkexchange.com\/?p=3193"},"modified":"2023-02-27T09:14:48","modified_gmt":"2023-02-27T14:14:48","slug":"the-continued-rise-of-the-extended-workforce","status":"publish","type":"post","link":"https:\/\/futureofworkexchange.com\/2023\/02\/27\/the-continued-rise-of-the-extended-workforce\/","title":{"rendered":"The Continued Rise of the Extended Workforce"},"content":{"rendered":"

During The Great Recession of 2008-2009*, businesses faced a harsh reality: do more with less\u2026or else face a reckoning. Tens of thousands of enterprises were forced to lay off swaths of their staff in the wake of rough financial times, with so many others undertaking additional cost-cutting measures beyond slashing their total headcount.<\/p>\n

Many incredibly talented professionals found themselves out of a job, and many once-thriving organizations found themselves without the same level of expertise they once maintained. However, unlike recessions of past, an interesting event occurred: a bounce-happened quick enough that those very businesses required talent to meet a rising demand for their products and services. And, those professionals who were cut from their positions became open to flexible work and new working arrangements.<\/p>\n

Enter the \u201cperfect storm\u201d that signaled a revolution.<\/p>\n

In the months preceding The Great Recession, the average penetration rate of contingent labor hovered around 10%-to-12%. In the wake of those awful economic times, that penetration rate soared to nearly 17%. This meant that 17% of the average company\u2019s total workforce was comprised of temporary workers, independent contractors, freelancers, and professional services-based labor.<\/p>\n

In 2010, that number hit 20%. In 2011, it was nearly 23%. And so on, as demonstrated below:<\/p>\n

\"\"<\/p>\n

The meteoric rise of the contingent workforce, what we now refer to as the \u201cextended workforce\u201d to encompass the agility, flexibility, and extended talent sources inherent in non-employee talent, has reached an apex of sorts. Today, in 2023, Ardent Partners and Future of Work Exchange<\/em> research finds that 49% of the average company\u2019s total workforce is comprised of external, extended talent.<\/p>\n

Years ago, many of us (this author included) believed that there would be a day when half of the total workforce would be considered contingent or extended. And now, in February 2023, that day is here. The extended workforce has traversed beyond its origins as a mere augmentative staffing attribute and has become a powerful entity that has transformed the way businesses think about how they get work done. Back in 2008 and 2009, businesses flipped the notions of the contingent workforce on its head; what emerged from that period of time was the continued rise of this malleable workforce that has driven so much value to organizations across the world.<\/p>\n

Today, the extended workforce is a foundational element of the business arena. And the reasons are plentiful, including:<\/p>\n