LOS ALTOS, Calif., – May 23, 2007 – As a human resource or procurement executive, do you know what really constitutes “contingent work?” Or, what’s the difference between “APF” and “EPF?”
The answers to those questions and more are now easy to find thanks to the first comprehensive compendium of contingent workforce terms developed by Staffing Industry Analysts, the nation’s premier provider of market intelligence about the contingent workforce.
To help the Fortune 1000 manage the rapidly growing contingent workforce, Staffing Industry Analysts complied more than 160 definitions to help industry professionals make better staffing decisions.
“Staffing Industry Analysts’ lexicon is intended to create a common language for contingent workforce professionals to benefit the entire industry,” said Barry Asin, Chief Analyst of Staffing Industry Analysts. “This dictionary of terms should help all of us get on the same page.”
Among the definitions in the 29-page document:
- Contingent Work/Worker –Contingent workers most often include temporary employees provided by an outside staffing agency and independent contractors/ consultants. Contingent workers may also include temporary workers from an internal pool, and others (such as summer interns) employed directly by an organization for an intentionally limited time period. They do not include work done by consulting firms or by part-time regular employees.
- Applicant Paid Fee (APF) – The applicant pays the fee to the employment agency upon placement in a permanent job. APF business was common in the early years of permanent placement, but now accounts for a very small portion of total placement revenue.
- Employer Paid Fee (EPF) – The hiring organization pays the fee to the employment agency for a permanent placement. The fee may be based on the salary of the position or a flat
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