The ultimate goal of work optimization is the culmination of next-generation strategies, solutions, and innovations that converge together to reimagine how a business engages and acquires its talent and addresses how work is done. The continued impact of consumerization on corporate processes and capabilities, combined with the cultural embrace of the Gig Economy and the pursuit of a new, “agile” workforce, is pushing the contemporary business into an exciting new era. The Future of Work is here, and it is predicated on the dynamic advantages of agility-led business models that prioritize contingent workforce management (CWM).
To effectively harness the inherent power within the Best-in-Class CWM program, businesses must enact a series of approaches that combine a relative balance of strategies, solutions, mindsets, and competencies. As organizations continue on the road to the Future of Work, the following recommendations will drive productivity and value across all facets of CWM:
- Establish a culture of enterprise flexibility. Although the new world of work runs on innovative approaches to both talent and technology, the minimalist method to prepare for the Future of Work is simply establishing a culture of “flexibility” across the organization: flexible thinking at the executive level when it comes to how work is done, flexible talent engagement that promotes depth and quality over costs/budgets, and flexible insights that support agile decision-making.
- Educate key internal stakeholders on the value of centralized SOW and services management. The world of work may be evolving at a breakneck pace, but the realm of SOW and services has not changed. While it is true that talent-led CWM programs rule the day, enterprises are doing themselves a great disservice by allowing internal stakeholder resistance and a general lack of administrative focus derail the significant cost and visibility benefits of proper SOW/services management. Those that resist putting SOW and services under the banner CWM program cannot properly monitor and track project-based spend or key delivery dates and milestones. But above all, they will find themselves in the most undesirable position of being at the mercy of consultants, lawyers, and other service providers.
- Embrace the business-shifting changes of the new world of work. It can be incredibly simple for the hardline, veteran business leader to ignore the major changes happening in the global arena. While it is true that not every new strategy or new platform pans out, the hard truth for these executives is that this new world of work is founded on transformational thinking and innovative technology. From the empowered independent professionals in the Gig Economy to the advancements in work optimization technology (like AIs and machine learning), the progressive view of work is that the ability to manage the convergence of agility, talent, and technology can drive better business outcomes.
- Promote agility as a major dividend from an enhanced CWM operation. “Agility” has become just as popular as other hot-button business lexicon like the Gig Economy and Big Data. However, the drive for agility is real: 81% of today’s businesses hold the desire to be a more agile enterprise. Contingent workforce management today has the potential to drive true strategic value, as enhancements made to talent engagement strategies (whether through the introduction of digital staffing or total talent acquisition approaches), analytics and reporting, and its utilization of repeatable and scalable processes and capabilities, will all allow for greater planning, control, and visibility. The end result: the ability to make dynamic business decisions.
- Understand that any CWM transformation project requires a multi-phased approach. It can be thrilling for businesses to study the Future of Work and envision the impact of new technology and new solutions. However, a big piece of the work optimization initiative is to first master the more traditional elements of CWM, such as staffing supplier management and SOW/services management. After enterprise-wide education of how potential changes could impact day-to-day contingent workforce operations, CWM leaders can then begin to slowly develop a plan to integrate next-generation technologies like AI, Blockchain, and machine learning.
Check out Ardent’s annual State of Contingent Workforce Management study to learn more about Best-in-Class contingent workforce management.
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