There is no doubt that, today, businesses are enabled with deep sources of talent and expertise. The rise of the so-called Gig Economy was just a precursor to the sharp growth in “alternative” talent acquisition strategies, many of which rely on digital and on-demand staffing solutions as their technological foundation. Simply put: there is a talent acquisition “revolution” happening in the market, and companies across the globe are actively benefiting from the expanded sources of top-tier skillsets available to them in near-real-time.
Too, there is another strategy at play that seems to be one of the “hotter” concepts in the greater talent and staffing markets: direct sourcing. Direct sourcing has become one of the hottest topics in the global worlds of talent and work. Also known as “self-sourcing,” the idea behind direct sourcing is simple: leverage the company’s overall brand and power to attract various types of candidates (silver medalists, alumni, freelancers, etc.) as part of its overall talent pool strategy. Direct sourcing offers, amongst others, two main benefits: 1) lower “hard” recruitment costs based on the sheer volume of hiring that is expedited via on-demand talent portals, and, 2) significant increases in time-to-fill rates, overall talent productivity, and faster onboarding. Direct sourcing will be a gamechanger in 2020 for those businesses that choose to invest the time and resources behind such a formidable talent strategy.
While all of this forward-thinking, next-generation talent engagement activity is certainly a boon for today’s contingent workforce programs (and talent acquisition leaders, hiring managers, etc.), there is also an element that cannot and must not be overlooked. Compliance and risk management has long been a thorn in the side of CWM programs globally, forcing organizations to consistently evaluate and re-evaluate their talent-employer relationships to ensure that all engagements fall in line with federal, state, and regulatory policies concerning the utilization of non-employee labor.
With both digital staffing and direct sourcing serving as such vital pieces of the modern-day contingent workforce program, it is crucial that businesses harness the pure talent acquisition power of these approaches whilst also executing rigorous compliance and risk mitigation capabilities. Join me next Thursday, March 5 (1pm ET) for a complimentary webinar hosted and sponsored by workforce management solution provider Shortlist.
I’ll be joined by renowned compliance expert Michael Matherly, Shortlist’s Direct of Compliance, to discuss:
- Why direct sourcing is such a powerful strategy for today’s talent-led economy.
- How Best-in-Class businesses are maintaining strong levels of contractor/labor compliance.
- The tools and strategies required to effectively “balance” the focus on next-generation talent acquisition with the proper compliance management channels, and;
- The impact of workforce management automation on compliance-led strategies in 2020.
Click here to register for next week’s webcast, and make sure to tune into the Contingent Workforce Weekly podcast to learn more about the evolution of talent acquisition, the contingent workforce’s place in the Future of Work, and much more.
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