Question

Ignacio owns a small business that employs 12 full-time workers. He has recently been told by his financial advisor that he would benefit financially from adopting a contingent employment strategy. What would Ignacio have to do in order to take his financial advisor’s advice?

Answer 1

A contingent workforce is more on-demand than standard, full-time employees. Examples of contingent workers are freelancers, contractors, and consultants. These types of workers are hired when needed for shorter term projects and are only employed by the company for the time they are needed to complete their project.