In celebration of the start of spring (unless you live in the Northeast, which has been stuck in a snow-covered, polar-vortex-fueled winter since after Thanksgiving), today’s CPO Rising article will highlight a series of veritable “spring cleaning” tips for those enterprises to kickstart their contingent workforce management (CWM) programs into high-gear.
The current landscape of CWM is at its most exciting…and at its most complex. There has never been a time in the history of contingent workforce management like today, with even the smallest companies consistently finding ways to balance the pressure of engaging high-quality talent with the necessary processes to manage traditional spend and supplier aspects. And thus we present our “spring cleaning” tips for those enterprises seeking to reinvigorate dormant processes and lax capabilities for effective contingent workforce management:
- “Clean out” processes that are causing lags in the CWM program. The word “intricate” is thrown around this industry for a reason: modern-day contingent workforce management involves a myriad of complex processes, from requisition management to compliance measurement, project management to identity management. Processes that are ineffective and causing program gaps must be improved or replaced with more efficient ones in order to drive visibility into talent and spending.
- “Polish and shine” those capabilities that actively drive value (and visibility) now and into the future. There are plenty of competencies that drive true contingent workforce value, such as supplier optimization and onboarding / offboarding processes. However, the programmatic capabilities, such as analytics and other Big Data-led efforts, that prepare the enterprise for the future of CWM (talent forecasting, budgeting and planning, etc.) should be the focus of the average program.
- Perform some technology evaluations to ensure you’re getting the most out of your third-party software and solutions. The current landscape of contingent workforce technology is quite expansive; Vendor Management System (VMS) technology provides a gateway into spend, suppliers and talent, while Managed Service Providers (MSPs) handle day-to-day CWM operations. Other solutions, such as Independent Contractor Engagement Specialists (ICES), and human capital software (Recruitment Process Outsourcing and Talent Acquisition), round out how the modern enterprise manages its contract talent. Enterprises currently leveraging these platforms should perform simple evaluations to ensure that there’s strong utilization of functionalities that can aid the greater good of the CWM program.
- Ensure the totality of the CWM program is prepared for what’s to come. The future is an exciting venture, but a daunting one as well. There are fresh, new sources of talent available for companies to leverage, and as reliance on contingent labor increases in the years to come, enterprises will be focused on how to manage all of their talent under a single, banner program. It is crucial for companies to understand the impact of total talent management strategies and begin to develop the efficiencies that will drive the greater CWM program to that futuristic goal.