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SmartSmith is helping businesses efficiently fill the talent gap. It has access to a talent pool that includes experienced, qualified, and knowledgeable workers willing to take up challenges.

What is an Extended Workforce?

The extended workforce has redefined how businesses operate. They have impressively widened the business scope by bringing multiple remote talents ready to take up challenges and collaborate for common goals within a cost-effective ecosystem. Yet, the extended workforce is left unnoticed. They get no reward or recognition for their extended services. Why?

For many years, the contribution of the extended workforce to the success of businesses has been ignored. This is because the world has tagged and perceived them as unprofessional, under-skilled, and under-qualified workforce. But this is not a fact; it is a misbelief that needs to be changed.

According to a survey, about 38.9% of independent contractors have a bachelor’s degree. Many businesses are functional today because of remote work setup that includes an extended workforce in the form of SOW-based contractors, specialists, consultants, and temporary employees.

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What does an “extended workforce” consist of?

An extended workforce consists of a pool of talent outside the organization, including contractual engineers, website developers, programmers, coders, UI/UX designers and more. Having access to an expanded workforce saves time and resources to focus on other important aspects of the business, such as expansion, growth, and more. Hiring Specialists and Consultants, in particular, can help organizations complete time-sensitive tasks.

The Specialists and Consultants can offer insight and analyses on certain projects that a traditional employee may not be able to provide. An extended workforce can also include seasonal workers for certain tasks, and they may be extended full-time job opportunities.

Organizations worried about the qualification and expertise of the contractual can go for SOW-based contract hiring. SOW, or a statement of work, is an agreement term that explains the deliverables and project goals. The agreement is created to keep everyone in the team on the same page about the scope of work, project expectations, and deadlines.

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Problem Solving

The Scope of Extended Workforce

The extended workforce is one of the inseparable parts of educational institutes. They often use the extended workforce to fill in the gap and to hire qualified teachers. Soon after the pandemic, businesses realized the importance of an extended workforce as it unremarkably widened the talent marketplaces. Microsoft Corporation, in one of its reports, argues that the extended workforce or hybrid workforce model is here to say. Microsoft said in the report that ‘talent is everywhere in a hybrid work world.’ Embracing an extended workforce can help companies in small cities find talent that they never had. Similarly, companies in big cities can hire a workforce from underrepresented groups. According to a Gartner report, 32% of organizations are replacing full-time employees with contingent workers as a cost-effective measure. A report by the US Government Accountability Office highlighted that by 2050; about 50% of the US workforce will be made up of freelance or contingent workers. SmartSmith is helping businesses efficiently fill the talent gap. It has access to a talent pool that includes experienced, qualified, and knowledgeable workers willing to take up challenges. It also makes it easy to utilize the extended workforce.
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The Future of Work with SmartSmith

SmartSmith believes that having an extended workforce is crucial when it comes to the future of work. Look no further; our Vendor Management System (VMS) is an intelligent answer to the growing need for workforce agility so businesses can grab new opportunities.

To find out more about how SmartSmith can integrate the right VMS for your business; request more information today.


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