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2 Companies are expanding their strategies and processes to better manage flexible talent, often turning to providers of managed services programs (MSP) and even broader integrated talent solutions that cover flexible workers and traditional employees alike. These solutions are supported by and oftentimes integrated with technologies such as applicant tracking systems (ATS) and vendor management systems (VMS), as well as related recruitment marketing, candidate relationship management and talent analytics tools. Even with all these resources and technologies in place, workforce decision-makers cannot afford to stop expanding their strategic view. This is because recent process and technology innovations are creating new areas of workforce engagement and management. Embrace those innovations early and you will enjoy the advantage of a larger supply of available talent. Ignore them and you run the risk of falling behind, as competitors secure talent from new sources or apply new tools to drive speed, quality of results and compliance. Today, one important area of innovation is the rapid emergence of human cloud platforms (HCP) — specialized contingent workforce management technologies that enable enterprises to directly source (or identify) independent workers and freelancers. According to McKinsey, online talent platforms could add as much as USD $2.7 trillion or 2% to global GDP by 2025. At the same time, they could add 72 million full-time equivalent positions.

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