Editor’s Note: Today’s article is a quick look at a new Ardent Partners report, “The Age of Self-Sourcing in Contingent Workforce Management and the Role of Online Talent Platforms and VMS Technology,” which is available for download here. The report, which is sponsored by Beeline, discusses how “self-sourcing” talent is another evolutionary step for contingent workforce management (CWM) programs. The new report also highlights the role of online talent platforms, Freelancer Management Systems (FMS), and the overall impact of Vendor Management System (VMS) technology (as well as the integration of these platforms). Click here to download this new research study.
Ardent Partners research estimates that nearly 35% of today’s total workforce is comprised of non-employee talent, including independent contractors, temporary workers, freelancers, SOW-based labor, and professional services. With the vast majority of executives across the world considering non-employee talent to be a vital component of their overall operations, enterprises are actively searching the globe for top-tier talent. The emergence of “on-demand” talent, sourced via a variety of means (technology, suppliers, social networks, etc.), has revolutionized the non-employee workforce world, causing businesses to reevaluate how talent is engaged, sourced, and managed.
The age of “self-sourcing” talent (without a traditional intermediary, such as a staffing supplier or recruiter) is not only a present-day attribute, it has become the foundation of talent management’s future. As such, businesses will require a revamped and more strategic approach to engage independent workers (including contractors and freelancers) to maintain cost control, compliance, visibility, and quality.
Sponsored by VMS provider Beeline, a new report by Ardent Partners unveils the reasons why this corner of the workforce is growing, including the accessibility of these skillsets, the flexibility of on-demand engagement, and the natural evolution that has encapsulated this arena for the past few years. The report also highlights:
- The role of integration between VMS and online talent platforms. Self-sourcing talent gives businesses access to an entirely new world of skillsets and expertise. However, what is sometimes lost is the visibility and control over that talent. Integration of online talent platforms with VMS technology produces a level of intelligence that ensures the ultimate value of self-sourced talent is not lost via compliance and visibility gaps.
- The rise of self-sourced talent. Any business today, regardless of its size, industry, or location, can find its ideal talent in real-time. Social networks, freelancer marketplaces, talent pools, silver medalists, alumni, etc.; there are a variety of sources from which today’s enterprises can engage the talent they need. This is the prime factor in the overall rise of both non-employee labor and self-sourced talent.
- The evolution of engagement models. The new Ardent report outlines a few critical statistics, including the fact that 95% of organizations today cite the non-employee workforce as critical to their business objectives, as well as the 10%+ growth in the utilization of independent talent from 2014 to 2015. The new study also highlights an interesting factor: how engagement models have evolved and where they might go in the future.
Click here to download the new research report, and stay tuned to CPO Rising for additional insights on contingent workforce management and the evolution of the non-employee workforce.
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