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they're known as Contingent Workers and the expenses towards them goes under different category in the company's finance books: regular employees are some kind
by tsjq 5y ago
they're known as Contingent Workers and the expenses towards them goes under different category in the company's finance books: regular employees are some kind of liability, C-W aren't same. also hides the headcount. World does not know how many were hired, when, and how many laid off.
think of C-Workers as EC2 for Employees: Elastic, flexible, quick hire, quick fire. H1B C-Workers do not show under the company's Visa books. Other costs of FTE: leaves, health-insurance, provident fund, gratuity, group life insurance, car-lease-plan, ESPP/RSU/ESOP, bonus, promotions, payhike, etc.
- wil421 5y agoThis is correct. The company I used to work for hires a lot of contractors and would furlough them as needed. They also hired about 200 contractors to get a big cloud based project done and they were all let go at the beginning of the pandemic. Later in the pandemic they started layoffs and only then did the news outlets pick up on it.