As companies continue to struggle with growing talent scarcity, the use of contingent talent,
including temps, freelancers, contractors, independents and statement of work (SOW)
workers has risen considerably. Along with this growing reliance on flexible talent comes the
need to identify, engage, hire, manage and compensate those individuals, all while ensuring
compliance with internal and external requirements. Managing multiple classes of workers
effectively, however, requires greater resources, visibility and expertise.
According to a 2017 Staffing Industry Analysts (SIA) survey of mid- and large-market buyers,
67% of managers who have contingent workforce related responsibilities spend at least
half of their time on these activities, up from 16% in 2004. Since then, the numbers have
climbed steadily, confirming the growing complexity around this flourishing component of
human capital.
Companies are faced with discovering how they can optimize contingent resources to drive
business value. They must consider how to best incorporate independents, contractors and
other types of workers in a holistic approach to workforce management. Talent leaders must
understand the technological competencies needed to effectively source, deploy and track
workers in their organizations.
To address these complexities, many companies implement managed services programs
(MSP). The benefits are numerous, and adopters who initially sought to solve one particular
problem often discover that their MSP also enhances practices elsewhere in the business.
In the second installment in this series, we will take a closer look at the key benefits of an
externally managed approach to flexible talent. But, first, let's define the need and build a
business case.
2
driving business value
with flexible talent.
