Market intelligence and SOW services procurement support transform contingent workforce management for the business services leader.
A global business services leader initially implemented a managed services program (MSP) to holistically administer the various work arrangements deployed through its contingent workforce. Following implementation, the company sought to further improve process efficiency, access to talent and cost savings to support its rapidly evolving business. With the help of Randstad Sourceright talent advisors, the company has implemented the newest elements of contingent workforce management, including SOW bidding mechanisms and market-data powered analytics, and is in the process of implementing a talent pooling platform.
the goals and challenges
Despite significant digital transformation, the business services leader sought to pursue potentially disruptive process enhancements to its contingent workforce management practices to become a more talent-centric organization. It sought out external expertise to implement best practices and understand which technologies would be most effective in advancing its talent strategies and delivering competitive business advantage.
The employer embraced a series of initiatives to enhance its MSP. Innovations include accelerating statement of work (SOW) services procurement, building a sustainable pipeline of qualified contingent professionals through a private talent pool, and achieving greater workforce insights using market data and talent analytics.
The company can now manage SOW services procurement through a bidding mechanism that facilitates the process. It is also in the process of creating a talent pool that can be used to more quickly leverage contingent candidates for permanent hires. And by using current market data, the company has insights into availability of skilled workers and how quickly they can fill requisitions based on this information.