Editor’s Note: We are excited to announce that the third annual edition of our landmark State of Contingent Workforce Management is now available. This year’s report discusses the impact of non-employee talent, such as independent contractors, temporary workers, SOW-based projects and services, and freelancers, on the global business world and how it is actively shaping the “future of work.” Click here to download the new research study, and stay tuned for additional “sneak peeks” here at CPO Rising.
Last week, we announced the availability of Ardent Partners’ new State of Contingent Workforce Management research study, a report (in its third annual edition) that highlights the “future of work” and its impact on how procurement, finance, HR, and other key stakeholders address their growing non-employee workforce. Today, we delve just a bit deeper into the landmark findings from this critical new research study and focus on an area that is crucial for modern contingent workforce management (CWM) programs: visibility.
Visibility, as discussed in the new report, was and is a historic challenge for businesses as they continue to rely on non-employee labor. It is simple logic: as any area of an enterprise grows and expands, visibility will be more and more difficult to attain without the proper systems and processes in place. Over the past few years, the concept of total talent management (“TTM”) or total workforce management (“TWM”), an ideal that constitutes the centralized management of all enterprise talent under a banner of standardized processes and integrated systems/solutions, has taken hold as a future objective. As organizations find their talent becoming more blended in FTEs and traditional workers, the concept of TTM/TWM will become more appealing, considering that benefits such as enhanced decision-making (which type of worker is best fit for a project?) and better quality of talent-related data (performance, quality, etc.).
However, the optimization of a total workforce cannot occur without the proper visibility. In today’s market, only 18% of organizations cite “strong” visibility into their worker footprint, which is defined as visibility into all talent across the entire enterprise, including both traditional full-time employees and non-employee workers, freelancers, and independent talent. Worse yet, nearly 50% of companies today possess either poor or partial visibility into their worker footprint, a factor that inhibits alignment of talent-based resources with the projects that require specific skillsets and expertise. This lack of visibility also destroys the ability to accurately forecast, budget, and plan for the future talent-based needs of the greater organization.
To download the new State of Contingent Workforce Management research report, click here, and stay tuned to CPO Rising for more exclusive insights.
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