CPO Rising has been a central source of contingent workforce management (CWM) knowledge and thought leadership for well over a year, and, in that time, we’ve written about a vast array of topics that pertain to the contemporary perception of this truly complex category. We’re excited to present the second and final part of a two-part series that will deep-dive into how the modern small or medium-sized business (SMB) perceives and manages contract talent.
The first article in our brief “SMB’s Guide to CWM” series detailed the “groundwork” for the small- and mid-sized companies in regards to how they are currently managing contract talent and the various gaps, issues, and challenges they face in the pursuit of running an effective contingent workforce management program.
Today’s book-end article was written as the true “guide” for companies in this sector to:
- Understand the major technological advancements in the space and figure out the best alignment for those solutions with their existing operations.
- Align the best functional processes and capabilities under a standardized, centralized program to drive ultimate value from contingent workforce management, and;
- Provide a veritable framework that can be utilized now and in the future to meet the growing demand of contract talent.
The analyst team here at Ardent Partners and CPO Rising has utilized recent data and research, as well as our expertise in the space, to build the official guidebook for SMBs looking to improve their overall management of contingent labor:
- Take a 20,000-foot look at your CWM program and compare it to Ardent’s Contingent Workforce Management Framework to identify key gaps and areas of need. The CWM Framework was designed to help organizations of all industries and sizes; companies in the SMB sector should utilize this Framework to better understand the competencies that can drive effective management of contract talent. With complex contingent labor growing at a rapid clip in the SMB arena, it is critical for these companies to leverage the spend and workforce management capabilities detailed in the Framework to drive ultimate value from this category of contingent labor.
- The underlying support valve is built with technology and outside expertise. SMBs may not have the resources or the drive to look to outside expertise and automation, however, in today’s intricate CWM market, a little help goes a long way. Whether it’s VMS, MSP, ICES, or spend management technology, these solutions provide a “support valve” for the greater CWM program and link key processes.
- The CWM program’s goals should equally address quality, visibility, cost, and compliance. We discussed this aspect in our “Metrics That Matter” article, and this concept rings true even in the SMB world. Cost savings are typically in the “premier” role of performance measurement, however, the contemporary scope of contingent workforce management dictates that enterprises find a means of measuring quality of talent. Also of significance is compliance; identity management and independent contractor compliance are not be ignored.
- The “perfect storm” is here…prepare accordingly for the future. The notion of the “blended workforce” is becoming a reality for SMB organizations in such a way that companies in this sector are more concerned with this impact instead of the pressure to drive cost savings or better visibility. This perfect storm is here, and SMB companies must ensure that they are aware of new and exciting sources of contract talent, and have the appropriate measures in place to manage and control them.
RELATED ARTICLES
The Perfect Storm of Non-Traditional Talent
The 360-Degree CWM Program: A Primer
The Convergence of Supplier Management and Contingent Workforce Management
