The so-called “age of intelligence” is just another reminder of a simple fact: the business world today truly runs on data. Any and all discussions related to the Future of Work are often predicated on the ability for the contemporary business to build better business outcomes, a goal that is only attainable with the proper visibility and analytical acumen. As more and more organizations strive for real business agility and the ultimate optimization of how work is done, the realm of intelligence will be the relative bridge to future success.
As discussed in the annual State of Contingent Workforce Management research study, intelligence remains a critical enabler of Best-in-Class performance within the changing world of work. Visibility, then, drives superior decisions and is what supports those better business outcomes. The organizations that can rely on deep intelligence related to talent, spend, suppliers, and projects will be the ones that can achieve optimal business agility.
Ardent’s research has discovered that Best-in-Class businesses deploy a variety of analytical capabilities to ensure that the data they have can be transformed into real-time corporate intelligence:
- Top-performing businesses are 75% more likely than all others to leverage cognitive intelligence capabilities (such as machine learning) to drive knowledge into a variety of aspects within CWM. After several transactions, machine learning-led analytics build knowledge in a near-automated manner from being fed consistent data and information; this is especially crucial for identifying CWM aspects like skills gaps, talent shortages, differences in labor rates, etc.
- Best-in-Class enterprises are 53% more likely to utilize predictive analytics and scenario-building tools, which reinforces the agility of having the necessary (read: the best-aligned skillsets and expertise) talent at hand as demand expands or contracts. Leveraging variables such as region, cost, skillsets, etc., businesses can view what their future workforce may look like and make necessary, real-time decisions based on this intelligence. For the Future of Work, this type of foresight is critical.
- Best-in-Class organizations are nearly 50% more likely than All Others to integrate their FTE and contingent worker data – a crucial element within the scope of total workforce management. Integrating talent data entails the centralized management of all enterprise talent no matter its source; it is often the first step in understanding how both sides (FTE and non-employee) of an enterprise’s talent pool impact business growth and success.
- Top-performing businesses are nearly 30% more likely to have real-time visibility into SOW and services, which speaks directly to the Best-in-Class CWM program’s affinity for complex contingent labor and its place in the enterprise pantheon. The importance of managing SOW/services effectively can never be understated, as the average organization annually funnels millions of dollars into its professional services. The Best-in-Class path? Drive enhanced visibility into this contingent workforce sub-category and truly understand its impact across the greater organization.
To learn more about the role of intelligence in the Future of Work, download the State of Contingent Workforce Management research study. And, be sure to check out the Digital Staffing Technology Advisor, Ardent’s newest report on the emerging impact of digital staffing and on-demand talent solutions.
