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Flexibility & Strategy: The Keys to a Successful Contingent Workforce. Your Presenters. Emily Elder serves as a subject matter expert within the Randstad Sourceright Contractor Compliance organization. Prior to joining Randstad Sourceright , Elder served as a
Mid-2013 research conducted by the Aberdeen Group indicates that 26% of the average company’s contingent workforce will be comprised of independent contractors this year.
The State of Contingent Workforce Management research study found that, over the
next three years, the average contingent workforce will grow by nearly 30%. And, with
the lines being blurred between so many different categories of contingent labor
(services, consultants, Statement of Work or SOW, traditional temporary labor,
independent contractors, etc.), the modern organization will have to take a multi-
faceted approach in 2014 in order to effectively maintain a sharp balance between
spend, talent and performance management within their contingent workforce(The
Research from Aberdeen, Gartner, Deloitte and others says that less than 1 in 5 HR
leaders today accept accountability for planning, sourcing, managing, and releasing “all
forms of labor” in use by the organization.
Of companies think that the flexibility of a contingent
workforce has allowed them to remain nimble during
economic ups and downs
Of employers believe that an integrated hiring
strategy for contingent & full-time workers results in
higher workforce quality
Of companies agree that the flexibility of a contingent
workforce has allowed them to protect their full-time
Of employers are considering, or currently have, an
appropriate mix between contingent & full-time
When risks are managed through tighter process control, policy development and awareness, the probability and severity of lawsuits is reduced (Staffing Industry Analysts).
How much would just one cost your organization?.
Benefit #1 – Cost Savings
Many companies realize a savings of $25 or more per invoice after
automating the invoicing and bill-pay processes (Staffing Industry Analysts).
Benefit #2 – Cost Avoidance
2014 & Beyond
General recruiting domain expertise
Quantity over quality of candidates
Specialized recruiting domain expertise
Quality over quantity with focus on active candidates
Electronic search and documentation
Point of need/business-based
Tailored sourcing & engagement capabilities
Predictive search and intelligence
On-demand, blended workforce
Community and networking of passive candidates
Does our brand appeal to all types of talent?
How do we assess our workforce compliance programs?
Are we optimizing recruiting across all categories of workers?
Are we able to track the cost of all types of talent?
Do our hiring managers understand how to leverage a blended workforce?
How are we building our talent communities?
How do we include free agents in strategic workforce planning?
Do we have a single view of our workforce?
increase as technology, society and cost come together to create a portable
dynamic work environment.
Embracing a strategy that promotes flexibility, efficiency and collaboration is
also great for business. Successful companies have learned a blended
workforce strategy is also cost-effective.
The only constant is change, continuing change, inevitable change…that is
the dominant factor in society today. No sensible decision can be made any
longer without taking into account not only the world as it is, but the world
as it will be.
— Isaac Asimov