Businesses sit in an interesting position in 2019 (and on the cusp of the end of another decade): as competition and innovation continue to accelerate at breakneck speed, the very innerworkings of the organization are forced to shift and evolve in order to keep pace. As detailed in the annual State of Contingent Workforce Management research study, there are several key aspects currently changing the approach businesses use to address how work is done, with the biggest pressure a clear reinforcement of why the agile workforce will be a critical piece of the enterprise puzzle in 2019:
- Seventy-one percent (71%) of businesses state that the pressure to adapt to evolving market and economic conditions is the biggest catalyst to changing how they get work done. It is no secret that the general pace of business, combined with shifting market conditions, is an incredible challenge for the contemporary enterprise. Businesses must contend with many new and frequently fierce competitors. Economic conditions are increasingly volatile and significantly less predictable than a generation ago. The answer to this intricate series of global issues? A mobile, agile workforce that can be tapped in a dynamic manner and can better align with transformative market shifts.
- The rising utilization of contingent workers (64%) is also a major factor in the evolution of work optimization. As discussed earlier, more and more independent professionals are part of this flexible lifestyle, and, in conjunction, businesses have experienced a sharp growth in the quantity of non-employees they have leveraged over the past decade. As the need for business agility increases, enterprises will continue to migrate to where they can find the best skillsets and expertise. Does this necessarily mean that the age of FTEs is over? No. The new world of work revolves around the concept of “alignment” with better business outcomes: which type of worker is the best fit for the project at hand? Which of the deep organizational resources will drive the most value for the current task?
- Diversity has also come a long way in the world of work. In a talent-led business arena, culture or gender do not matter; the best talent pool is a diverse talent pool. Over half (53%) of businesses want to diversify their workforce to reinforce this consistent argument of alignment. Openness in the form of inclusive hiring and engagement not only ensures that the organization is open to new voices and new ideas but is also positioned to be more agile in the deeper skillsets or expertise that are available to address dynamic business challenges.
The world of work will never be the same. Increasingly consumerized and digitized, the modern enterprise must leverage the wealth of new tools and technologies in conjunction with the pursuit of agile talent to effectively optimize how work is done and drive superior business outcomes. The key elements of the Future of Work, such as innovation, the agile workforce, and transformational enterprise thinking, will push businesses into a new era that promotes agility, as well as enabling better alignment with the dynamic shifts in the business world. The link between contingent workforce management and the evolving world of work is tangible, forcing enterprises across the globe to reimagine the current and future state of work optimization through innovative strategies for talent engagement and acquisition, business intelligence and analytics, and day-to-day operations. As the world of work continues to progress in the months and years ahead, the influence of business agility and the agile workforce will become the gateway to consistently superior business outcomes.
Check out Ardent’s annual State of Contingent Workforce Management study to learn more about the major transformations happening in the world of work.
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