What is the “new world of work”? Simply put, it is driven by not only the mindset behind how talent is engaged, sourced, and managed, but also (ultimately) how work is done. Key business projects and initiatives are now addressed in an on-demand manner, and coordinate in conjunction with a literal “talent revolution” in which more and more top-tier, highly-skilled workers are adopting a flexible workstyle. The very core of work today is not only instituted on the transformation of enterprise thinking, but also the underlying components of work optimization.
To thrive in this new world of work, there are a fundamental set of strategic actions (as detailed in the 2017-2018 edition of Ardent’s annual The State of Contingent Workforce Management research study) that must be leveraged to not only follow the Best-in-Class path to success, but to also reach a desired state of work optimization and enterprise agility. The following recommendations will help organizations build and develop contingent workforce management (CWM) programs and concepts that are designed to transform how work is done:
- From the top down, embrace a culture of change, transformation, and discovery. It truly is a brave new world of work; from online talent platforms to artificial intelligence (AI) and next-generation CWM technology, business executives must not only be prepared for an era of change, but also one of transformation (of traditional lines of thinking) and discovery (of new ideas and solutions) in relation to work optimization. HR and procurement leaders must embrace the new world of work, shift how talent engagement strategies address core organizational needs, and develop the building blocks to an agile future state.
- Prioritize the near-term development of Future of Work-era technologies, tools, and drivers. No one expects radical change overnight. As such, it should be expected that within a two-year window, the greater organization will start tapping into Future of Work-era technologies and innovations and integrate these into a high-level corporate strategy. For starters, the application of consumerized thinking to talent engagement can be a first step, followed by embracing more and more complex attributes (such as support for remote work or the utilization of design thinking in talent engagement strategies).
- Embrace Vendor Management System (VMS) technology as an outlet of enterprise software and not just a pointed tool for contingent workforce management. Today’s VMS systems are even a far reach from where they were just a few short years ago. Although they are the “nexus” of CWM, progressive VMS platforms can also facilitate self-sourcing of external talent (such as freelancers or independent contractors), integrate with HCM software to build deeper viewpoints of enterprise talent, and help enterprises tap into new outlets of AI to drive learning and development. Businesses should strive to capture all sources and types of non-employee labor, from staffing suppliers to SOW-based labor and freelancers, in a VMS-enabled CWM program.
- Standardize the initial steps (enterprise-wide) for when the need for talent or expertise arises. Whenever a new project, job, or initiative that requires talent arises, there should be a standardized means for addressing it. Today’s total talent pool consists of a variety of skill sets: independent contractors, freelancers, professional services, “gig” workers, robotics, and, of course, traditional/permanent workers. A perfect alignment between an open job/project and the internal or external skills within the enterprise talent pool is the ideal way to address work.
- Ensure that traditional CWM aspects, such as SOW management, are not lost in the shuffle. While this report leans on the excitement of work optimization tools and the impact of Future of Work concepts, the truth is that organizations cannot lose sight of the original goals of contingent workforce management: engage the right talent, at the right price, and manage it effectively. SOW management is a key aspect that falls within this frame of thinking; for many organizations, it is their largest “category” of contingent workforce spending. As such, it needs to be addressed with the same rigor as any future (read: more exciting) endeavor to optimize how work is addressed.
Want to learn more? Download Ardent’s The State of Contingent Workforce Management 2018 report here (Click to register and download).
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