The realm of “contingent labor” includes three distinct categories: traditional temporary labor (via staffing suppliers and vendors), “self-sourced” / “directly-sourced” talent, such as independent contractors and freelancers, and “complex contingent labor,” which includes professional services and statement-of-work (SOW)-led projects. Nearly 70% of procurement teams are prioritizing SOW management and services procurement over the next 12 months as a way to improve the overall contingent workforce management (CWM) program. SOW and services represent perhaps the most intricate of contingent labor due to its propensity for detailed project management, milestone- and delivery-tracking, and the spend/supplier management components required to control the (typical) millions of dollars funneled annually into this CWM sub-area.
The State of Contingent Workforce Management research study discovered that only 48% of businesses today have centralized the management of the SOW/services category to fall under the overall contingent workforce program. This indicates that, as far as evolution takes the world of work into new and exciting territory, there are still core and traditional CWM attributes that many enterprises have not yet mastered. However, while less than half of companies today currently manage SOW and services within their contingent workforce program, nearly 40% of businesses expect to integrate it into CWM within the next few years.
Join us on Wednesday, June 19 at 1pm ET for a complimentary webinar focused on why SOW management and services procurement are two integral links to the Future of Work. Hosted and sponsored by Workforce Logiq, the upcoming event will feature discussions related to:
- Why SOW/services procurement has become so critical for today’s CWM programs.
- The serious issues that can arise from mismanagement of SOW and services.
- The value of MSP and VMS solutions in enhancing the management of SOW and services.
- How to build the business case for enhanced management of this critical contingent workforce category, and;
- Why the Future of Work depends on better management of SOW and services.
Although this contingent workforce category may seem like a daunting task to manage, the truth is that the vast majority of uncontrolled non-employee labor spending lies within SOW and services. From IT and legal services to maintenance and accounting, there are possibly dozens (even hundreds for larger organizations) of service types that are being engaged and leveraged across nearly every function across the greater organization. A failure to control this spending keeps many CWM programs from realizing their true value.
Join Workforce Logiq and Ardent Partners for an exciting webcast that will feature a deep look at the inherent link between the biggest piece of today’s contingent workforce and the relative future state of work optimization. Learn industry trends from the recent Ardent research report, Statement of Work (SOW)/Services Management and the Future of Work, and a practical approach, based on real-life case studies and end-user experiences, to increasing cost-savings and improving control over management of SOW and services-based spend.
RELATED ARTICLES
The Importance of SOW Management and Services Procurement in Today’s Evolving World of Work
The Great SOW Debate, and Why Companies Can’t Ignore This Critical Aspect of CWM
It’s Never Too Late to Master the Art of SOW Management (Upcoming Webinar)
